The global and local Analgesics market is being bolstered by the growing trend towards self-medication amongst consumers, who are increasingly self-medicating based on internet research, rather than seeking professional medical advice. This transition is being made painless by the increased availability of, and access to, digital health and wellness information which is empowering consumers to purchase OTC products, including Analgesics.
Insight Survey’s latest SA Analgesics Industry Landscape Report 2020, carefully uncovers the global and local Analgesics market, based on the latest information and research. It describes the relevant global and local market trends, innovation and technology, drivers, and challenges, to present an objective insight into the South African Analgesics industry environment and its future.
In 2019, the global Analgesics market reached a total value of approximately US$27.3 billion in terms of retail sales, as illustrated in the graph below. Regionally, North America represented the largest market in the global Analgesics market, reaching a value of approximately US$6.7 billion in 2019. This was followed by Asia-Pacific and Western Europe, which was valued at approximately US$6.37 billion and US$6.35 billion, respectively.
The internet is significantly shaping and influencing consumer behaviour, both globally and locally, with approximately 60% of South Africans now having access to the internet. As a result, consumers are increasingly making their own medication choices based on their self-diagnosis and information retrieved via digital channels, such as the internet and mobile applications, making these channels crucial in influencing OTC Analgesics product choices amongst consumers. Consumers will now typically only obtain professional help to confirm more serious diagnoses, with many OTC Analgesics purchases being based on their digital research.
In addition to the increasing use of digital platforms by consumers, the medical profession is also responding to this shift in consumer behaviour. As such, medical professionals, with the help of technological advancements, can now have virtual consultations with patients, typically taking the form of texting, calling, or video-calling, with a medical doctor who will assess the patient’s symptoms, provide health education, and prescribe treatment.
These virtual consultations are being made possible by various platforms, including telemedicine applications such as Hello Doctor and Medici, which are currently being used in South Africa. These virtual platforms allow for consultations with patients in remote regions, whilst also offering significant savings in terms of time and money for patients.
Pharmacies in South Africa have also responded to the increased demand for digital options amongst consumers and professionals. Pharmacies are now offering consumers the option to purchase unscheduled OTC remedies, including Analgesics, through their online stores.
In addition to the online ordering of OTC medication, some of these pharmacies also offer delivery, thereby offering consumers a quick, easy and convenient way of purchasing OTC Analgesics, which will help drive the sales of these products.
The choice and purchasing of products, including OTC Analgesics, is increasingly being made online, with delivery services becoming crucial to cater to consumer demands for convenience. As such, it will be crucial for market players to make the online process as painless as possible for consumers and contribute to their growth, and the growth of the South African Analgesics market.
The South African Analgesics Industry Landscape Report 2020 (102 pages) provides a dynamic synthesis of industry research, examining the local and global Analgesics industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing to competitor analysis, retailing, to pricing and purchasing trends.
Some key questions the report will help you to answer:
- What are the current market dynamics of the Global Analgesics industry?
- What are the key global and South African Analgesics industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the SA Analgesics market (2015-2020) and forecasts (2021-2025)?
- Who are the key manufacturers, distributors and retail players in the SA Analgesics industry?
- What are the prices of popular Analgesic brands and products at pharmacies?
Please note that the 102-page report is available for purchase for R27,500.00 (excl. VAT). Alternatively, individual sections can be purchased for R12,500.00 (excl. VAT). For additional information simply contact us at email@example.com or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: South African Analgesics Industry Landscape Report 2020
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