Market Insights Health OTC Pharmaceuticals

Analgesics - Japan

Japan

In Japan, the revenue generated in the Analgesics market in 2024 amounts to €0.49k.
It is projected that the market will experience an annual growth rate of 5.49% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with €6,647.00 in 2024.
In terms of per person revenues, in 2024, each individual in Japan contributes €3.99 to the overall revenue.
Japan's strong cultural emphasis on self-care and the prevalence of traditional medicine contribute to the high demand for analgesics in the OTC Pharmaceuticals market.

Key regions: Brazil, Europe, Germany, Canada, United States

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Analyst Opinion

The Analgesics market in Japan has experienced significant growth in recent years, driven by several factors.

Customer preferences: Japanese consumers have shown a growing preference for analgesic products that provide quick and effective relief from pain. This has led to an increased demand for over-the-counter (OTC) analgesics, such as ibuprofen and acetaminophen, which are easily accessible and do not require a prescription. Additionally, there is a growing awareness among consumers about the importance of self-care and managing minor ailments at home, which has further fueled the demand for analgesics.

Trends in the market: One of the key trends in the Japanese analgesics market is the increasing popularity of natural and herbal remedies. Consumers are seeking alternative options to traditional analgesics, and are turning to products that are perceived to be more natural and have fewer side effects. This has led to the emergence of a range of herbal analgesics in the market, including products containing ingredients such as ginger, turmeric, and willow bark.Another trend in the market is the growing demand for analgesic patches and creams. These products offer targeted relief for specific areas of the body and are preferred by consumers who do not want to ingest oral medication. The convenience and ease of use of these patches and creams have made them popular among consumers, particularly those suffering from chronic pain.

Local special circumstances: The aging population in Japan has also played a significant role in driving the growth of the analgesics market. As the population ages, the prevalence of chronic pain conditions, such as arthritis and back pain, increases. This has created a higher demand for analgesics among the elderly population, who are seeking relief from pain and discomfort.Furthermore, the Japanese healthcare system places a strong emphasis on self-medication and encourages individuals to take responsibility for their own health. This has led to a culture of self-care and self-medication, where individuals are more likely to seek out and purchase analgesics on their own, rather than relying on healthcare professionals for prescriptions.

Underlying macroeconomic factors: Japan has a strong and stable economy, which has contributed to the growth of the analgesics market. The country has a high standard of living and disposable income levels, allowing consumers to afford and purchase analgesic products. Additionally, the Japanese government has implemented policies to promote the use of generic drugs, which has made analgesics more affordable and accessible to a wider population.In conclusion, the Analgesics market in Japan has experienced significant growth due to customer preferences for quick and effective pain relief, the popularity of natural and herbal remedies, and the demand for targeted relief through patches and creams. The aging population and the emphasis on self-medication in the Japanese healthcare system have also contributed to the market's growth. The strong and stable economy, along with government policies promoting the use of generic drugs, have made analgesics more affordable and accessible to consumers.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.