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$24.9bn 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$5.9bn in 2017.
![Source: Euromonitor, [http://www.insightsurvey.co.za/ Insight Survey]]: Graphics by Insight Survey](https://biz-file.com/c/1807/449072.png)
Source: Euromonitor, [http://www.insightsurvey.co.za/ Insight Survey]]: Graphics by Insight Survey
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 az.oc.yevrusthgisni@ofni or directly on (021) 045-0202.
For a full brochure please go to: South African Analgesics Landscape Report 2017.
About Insight Survey:
Insight Survey is a South African B2B market research company with more than 10 years of heritage, focusing on business-to business (B2B) market research to ensure smarter, more-profitable business decisions are made with reduced investment risk.
We offer B2B market research solutions to help you to successfully improve or expand your business, enter new markets, launch new products or better understand your internal or external environment.
Our bespoke Competitive Business Intelligence Research can help give you the edge in a global marketplace, empowering your business to overcome industry challenges quickly and effectively, and enabling you to realise your potential and achieve your vision.
From strategic overviews of your business’s competitive environment through to specific competitor profiles, our customised Competitive Intelligence Research is designed to meet your unique needs.
For more information, go to www.insightsurvey.co.za.
