On a global scale, pain continues to be one of the most common symptoms encouraging individuals to seek medical care or over-the-counter alternatives to relieve their symptoms. This coupled with the ever-growing global healthcare industry, accelerated technological developments, the increasing prevalence of various pain disorders, and the rising global ageing population, are some of the key factors driving growth of the Analgesics market globally, as well as in South Africa.
Insight Survey’s latest SA Analgesics Industry Landscape Report 2018 carefully unfolds the local Analgesics market. With the latest information and research, it discusses the global and local industry trends and challenges, while also providing detailed insights into the major players and brands in the local market.
The global Analgesics market was valued at US$24.9 billion in 2017 and is expected to grow at a robust compound annual growth rate (CAGR) of 7.2% between 2018 and 2023. Paracetamol (otherwise known as Acetaminophen) is currently the most commonly used OTC Analgesic globally, followed closely by Aspirin (also known as acetylsalicylic acid). The graph below illustrates the Global Analgesic retail sales by region for 2017. North America represented the largest Analgesics market, recording a revenue of US$5.9 billion in 2017.
As with any other market sector in South Africa, it is anticipated that a multiplicity of factors will have an impact on the Analgesics market in 2018. Probably the most prominent factor currently impacting on the market is the tough economic environment which negatively impacted the local Analgesics market as the retail environment has become increasingly challenging.
Furthermore, higher import costs due to the challenging economic climate and the lack of a local active pharmaceutical ingredient plant, is set to increase end-product prices, making it increasingly difficult for local manufacturers to compete with larger, inexpensive markets, such as China and India.
Despite this, the South African Analgesics market has continued to demonstrate its strength and growth potential, with sales increasing at a compound annual growth rate of more than 8% between 2012 and 2017.
Following global trends, one factor which is driving the demand for analgesics is the growing ageing population, which is expected to double by 2050. Due to physical fragility and other age-related conditions, elderly individuals will be more likely to self-medicate to regulate their pain-related symptoms, and by extension drive the growth of OTC Analgesics. This factor coupled with the growing self-medication trend and the growth of generic medications in South Africa is set to positively impact the local Analgesics market in 2018.
The SA Analgesics Industry Landscape Report (105 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 retailing, market size trends, industry trends, industry drivers and challenges, competitor and pricing analysis.
Some key questions the report will help you to answer:
- What are the current market dynamics of the local and global Analgesics industry?
- What is the current Analgesics market size, market value, market volumes: 2012-2017 Actual, 2018-2022 Forecasts?
- What are the SA Analgesics industry trends, drivers and restraints?
- Who are the key manufacturers and retail players in the SA Analgesics industry?
- What are the prices of popular OTC Analgesic brands at pharmacies and supermarkets in SA?
Please note that the 105-page PowerPoint report is available for purchase for R25,000 (excluding VAT). Alternatively, individual sections can be purchased for R9,000 (excluding VAT). For additional information simply contact us at firstname.lastname@example.org or directly on (021) 045-0202.
For a full brochure please go to: South African Analgesics Landscape Report 2017
About Insight Survey:
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