Current retail value sales growth of analgesics in Lithuania is set to decline during 2021, with COVID-19 playing a significant role in this. The economic impact of COVID-19 is weighing on current retail value sales growth as many consumers are becoming more price sensitive.
There was a surge in demand for analgesics during the early stage of the pandemic in 2020 as some consumers panicked and stocked up on these products. Moreover, many consumers continued stockpiling analgesics to have these products available not only for the year ahead, but also for some years to come.
Value sales in analgesics are concentrated, with the top four players – GSK Consumer Healthcare, US Pharmacia SP zoo, A Menarini Industrie Farmaceutiche Riunite Srl and Nycomed SEFA AS – accounting for more than half of value sales during 2021. A Menarini Industrie Farmaceutiche Riunite Srl takes the third place from Nycomed SEFA AS in 2021 as Nycomed sees a decline in retail value sales growth during the year.
Analgesics is expected to see constant retail value sales growth during the forecast period thanks to Lithuanian consumers increasingly self-medicating. During the pandemic consumers learnt to use analgesics to assist in alleviating symptoms of COVID-19 as well as the seasonal flu thanks to treatment facilities being closed for much of 2020.
As the successful Lithuanian vaccination drive leads to the gradual control of the COVID-19 pandemic, people will panic less and start to calm down. Consequently, constant retail value sales of sleep aids is expected to decelerate over the course of the forecast period.
The emergence of modern grocery retailers as a distribution channel of analgesics during the review period undermined the dominance of chemists/pharmacies, and the share of value sales of analgesics accounted for by modern grocery retailers is anticipated to continue rising over the course of the forecast period, as consumers become more accustomed to buying these products through this channel. More generally, the wider availability of these products will make them more accessible to consumers, boosting value sales growth in analgesics.
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This report originates from Passport, our Analgesics research and analysis database.
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