Market Insights Health OTC Pharmaceuticals

Analgesics - United Kingdom

United Kingdom

In the United Kingdom, the revenue in the Analgesics market is projected to reach €0.88bn in 2024.
It is anticipated that the market will experience an annual growth rate of 3.99% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with €6,716.00m in 2024.
Considering the total population, the per capita revenue in the United Kingdom is estimated to be €13.01 in 2024.
The United Kingdom is experiencing a growing trend in the analgesics market, with a rise in demand for natural and herbal remedies.

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

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Analyst Opinion

The Analgesics market in United Kingdom has been experiencing steady growth in recent years.

Customer preferences: Consumers in the United Kingdom have shown a strong preference for over-the-counter analgesics, such as paracetamol and ibuprofen, due to their convenience and accessibility. These products are widely available in pharmacies, supermarkets, and online, making them easily accessible to a large number of consumers. Additionally, there is a growing trend towards natural and herbal remedies, with consumers seeking alternative options for pain relief.

Trends in the market: One of the key trends in the Analgesics market in United Kingdom is the increasing demand for topical analgesics. These products, such as creams, gels, and patches, provide localized pain relief and are often preferred by consumers for their ease of use and targeted application. This trend is driven by the growing aging population in the country, as well as the rising incidence of musculoskeletal conditions such as arthritis.Another trend in the market is the growing popularity of combination analgesics. These products combine different active ingredients, such as paracetamol and codeine, to provide more effective pain relief. Combination analgesics are particularly favored by consumers for the treatment of more severe pain, such as migraines or dental pain.

Local special circumstances: The National Health Service (NHS) in the United Kingdom plays a significant role in the Analgesics market. The NHS provides free healthcare to all residents, including prescription medications. This has led to a higher demand for prescription-strength analgesics, as patients can obtain them at no cost. However, there are also strict regulations in place to prevent misuse and overuse of these medications.

Underlying macroeconomic factors: The growing aging population in the United Kingdom is a key driver of the Analgesics market. As people age, they are more likely to experience chronic pain conditions, such as arthritis, which require long-term pain management. This has led to an increased demand for analgesics in the country.Additionally, the United Kingdom has a strong pharmaceutical industry, with several major companies manufacturing and distributing analgesic products. This has contributed to the availability and accessibility of analgesics in the market.In conclusion, the Analgesics market in United Kingdom is driven by customer preferences for over-the-counter products, such as paracetamol and ibuprofen, as well as a growing demand for topical and combination analgesics. The market is also influenced by the presence of the NHS, which provides free healthcare and prescription medications to residents. The growing aging population and the strong pharmaceutical industry in the country are underlying macroeconomic factors that contribute to the development of the market.

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.