Analgesics is expected to grow at a limited pace in 2021. Tourist spending, especially from Mainland China, was once a significant source of revenue for analgesics prior to the emergence of the pandemic.
Although demand for ibuprofen was gaining momentum earlier in the review period due to the popularity of Japanese analgesic EVE among local travellers, acetaminophen remains the leading ingredient for systemic analgesics. The onset of the pandemic led to greater health awareness amongst local consumers regarding the composition of various products, and therefore they are developing a greater understanding of potential side effects of different common ingredients used in systemic analgesics.
GSK Consumer Healthcare is set to retain is convincing leadership of analgesics in 2021, given the established presence of its popular brand Panadol which dominates systematic analgesics in value share terms. On the one hand, the segmentation of analgesics is led by Panadol as it targets pain symptoms of different areas of the body, ranging from joint discomfort to menstrual cramps.
Over the forecast period, analgesics is expected to register favourable growth when travel restrictions are fully lifted, as tourist spending will remain an important factor in driving growth of analgesics in Hong Kong. Topical analgesics/anaesthetic is expected to record the most impressive growth rates, given that it was once an essential purchase for tourists, driving demand for brands such as Wong To Yick and Tiger Balm.
The rising penetration of e-commerce since the emergence of the pandemic has also benefited the digital sales growth of analgesics. Online availability of analgesics has increased sharply since 2020.
Topical analgesics/anaesthetic is expected to see dynamic growth rates over the forecast period, supported by local consumption and resumption of tourist spending. The category remains relative to many consumers who suffer from neck and shoulder pain, headaches, or joint pain due to long working hours in Hong Kong.
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Understand the latest market trends and future growth opportunities for the Analgesics industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Analgesics industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Analgesics cover systemic and topical pain relievers. Products which include a pain-relief ingredient in addition to another core function are excluded (e.g. a sore throat remedy which includes paracetamol is excluded from the analgesics and instead is included in pharyngeal remedies).See All of Our Definitions
This report originates from Passport, our Analgesics research and analysis database.
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