The positive sales growth that was recorded in analgesics during 2021 can be attributed mainly to two major factors. The first of these is the widespread usage of many of the most popular types of OTC analgesics as a way of managing and minimising the symptoms of the COVID-19 virus.
One factor which supported demand for OTC medicines in general and OTC analgesics in particular during 2021 was the significant shift seen towards self-medication among the Philippine population over the course of the year. One of the main motivations towards self-medication for Philippine consumers since the onset of the COVID-19 pandemic has been the desire that has spread among the population to avoid visiting doctors’ surgeries, healthcare clinics and hospitals.
Brand loyalty remains an important aspect of demand patterns in analgesics in the Philippines. Indeed, very many Filipinos continue to base their analgesics purchasing decisions primarily on past experiences, with brands that are known to be effective and/or representative of good value for money invariably favoured over unknown brands or those with which the consumer has had unfavourable experiences in the past.
The dramatic changes that have been seen in the lifestyles of many Filipinos since the onset of the COVID-19 pandemic have not been entirely positive for sales of analgesics. With consumers no longer facing daily pressures associated with their hectic lifestyles such as commuting to and from work on public transport every day and attempting to find some semblance of balance in their busy professional and social lives, many consumers have had less need for analgesics as they no longer experience headaches and other physical side-effects of excessive daily stress.
One major factor that is expected to support sales growth in analgesics during the forecast period is the ageing of the Philippine population. Dramatic improvements in healthcare for local people in recent decades have had a positive impact on life expectancy, while the slowing birth rate and the sheer size of the country’s baby boomer population are all major factors contributing to the ageing of the Philippine population.
One trend which is expected to be particularly influential on sales of analgesics during the forecast period is the increasing willingness of consumers to purchase generic analgesics. This is partially linked to the adverse economic situation which has emerged in the Philippines since the onset of the COVID-19 pandemic.
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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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