Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Portugal has been experiencing steady growth in recent years.
Customer preferences: Portuguese customers have shown a preference for over-the-counter analgesics that provide quick and effective relief from pain. They value convenience and affordability, making pharmacies their go-to destination for purchasing analgesics. Customers also tend to trust the advice and recommendations of pharmacists, which further drives their preference for purchasing analgesics from pharmacies.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Portugal is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients and potential side effects of analgesics, leading them to seek out alternatives that are perceived as safer and more natural. This trend is in line with the global shift towards natural and organic products, and it presents an opportunity for manufacturers to introduce new products that cater to this growing demand. Another trend in the market is the rising popularity of online pharmacies. With the increasing penetration of internet and smartphones in Portugal, customers are increasingly turning to online platforms to purchase analgesics. Online pharmacies offer the convenience of home delivery and often provide discounts and promotions, making them an attractive option for customers. This trend is expected to continue in the coming years as more customers embrace e-commerce.
Local special circumstances: One of the special circumstances in the Portuguese market is the high prevalence of chronic pain conditions. Portugal has a significant aging population, which is more prone to chronic pain conditions such as arthritis and back pain. This demographic factor contributes to the steady demand for analgesics in the country. Additionally, Portugal has a high incidence of musculoskeletal disorders, which further drives the demand for analgesics.
Underlying macroeconomic factors: The growing economy and increasing disposable income in Portugal have also contributed to the growth of the Analgesics (Pharmacies) market. As people have more purchasing power, they are more likely to spend on healthcare products, including analgesics. The stable economic conditions have also led to an increase in the number of pharmacies in the country, providing customers with greater accessibility to analgesics. In conclusion, the Analgesics (Pharmacies) market in Portugal is experiencing growth due to customer preferences for convenience and affordability, as well as the increasing demand for natural and herbal remedies. The rise of online pharmacies and the high prevalence of chronic pain conditions in the country also contribute to the market's development. The growing economy and increasing disposable income further support the growth of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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