Market Insights Health Pharmacies OTC Products

Analgesics (Pharmacies) - Netherlands

Netherlands

Revenue in the Analgesics market is projected to reach €147.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.57%, resulting in a market volume of €175.20m by 2029.
In global comparison, most revenue will be generated in China (€4,614.00m in 2024).
In relation to total population figures, per person revenues of €8.32 are generated in 2024.

Key regions: China, South Korea, Canada, India, France

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Analyst Opinion

The Analgesics (Pharmacies) market in Netherlands is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Netherlands have a strong preference for analgesics purchased from pharmacies. This is primarily due to the trust and reliability associated with pharmacies, which are seen as reputable sources for medications. Customers value the professional advice and guidance provided by pharmacists, who can recommend suitable analgesics based on individual needs. Additionally, customers appreciate the convenience of purchasing analgesics alongside other healthcare products and services offered by pharmacies.

Trends in the market: One notable trend in the Analgesics (Pharmacies) market in Netherlands is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients and potential side effects of analgesics, leading them to seek alternative options. As a result, pharmacies are expanding their product offerings to include a wider range of natural and herbal analgesics. This trend is driven by a growing interest in holistic health and wellness, as well as a desire for more personalized healthcare solutions. Another trend in the market is the rise of online pharmacies. With the increasing popularity of e-commerce, customers are turning to online platforms to purchase analgesics. Online pharmacies offer the convenience of doorstep delivery and a wider selection of products. This trend is further accelerated by the COVID-19 pandemic, which has led to an increased reliance on online shopping. However, traditional brick-and-mortar pharmacies still maintain a strong presence in the market, as customers value the in-person experience and professional advice provided by pharmacists.

Local special circumstances: The Netherlands has a well-developed healthcare system that emphasizes accessibility and affordability. The government plays a significant role in regulating the pharmaceutical industry, ensuring that analgesics are safe and effective for consumers. The presence of a strong pharmacy network across the country ensures that customers have easy access to analgesics and other healthcare products. Additionally, the high level of healthcare literacy among the population contributes to the demand for analgesics from pharmacies.

Underlying macroeconomic factors: The growing aging population in Netherlands is a key macroeconomic factor driving the demand for analgesics. As individuals age, they are more likely to experience chronic pain and require regular use of analgesics. This demographic trend is expected to continue in the coming years, further fueling the growth of the Analgesics (Pharmacies) market. Furthermore, the overall economic stability and high disposable income in Netherlands contribute to the affordability of analgesics. Customers are willing to spend on healthcare products, including analgesics, to maintain their well-being. The strong purchasing power of consumers supports the growth of the market. In conclusion, the Analgesics (Pharmacies) market in Netherlands is developing due to customer preferences for pharmacy purchases, trends such as the demand for natural remedies and the rise of online pharmacies, local special circumstances including a well-developed healthcare system, and underlying macroeconomic factors such as the aging population and economic stability.

Methodology

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.