PROSPECTS AND OPPORTUNITIES
Growing pressure from lower-cost alternatives
As competition from cheaper brands intensifies, analgesics in Latvia is expected to witness further price-competition. Companies like Nycomed Latvia and Grindeks JSC will need to adapt by either lowering prices or adding value through innovative product features to maintain retail value share.
Topical analgesics poised for solid growth
While the demand for topical analgesics is already looking good in 2024, there is significant potential for further growth in this segment. Companies could capitalise on this trend by introducing new formulations, such as fast-acting gels or creams designed specifically for sports injuries or chronic pain conditions.
Innovation needed as analgesics faces saturation
With saturation limiting overall volume and value growth in analgesics, innovation will be key for companies looking to stand out in the upcoming period. This could involve developing new delivery mechanisms, such as patches or sprays, or creating combination products that offer added benefits, like anti-inflammatory properties or muscle relaxants that go beyond basic pain relief.
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Overview:
Understand the latest market trends and future growth opportunities for the Analgesics industry in Latvia 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 Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Analgesics in Latvia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Analgesics in Latvia?
- Which are the leading brands in Analgesics in Latvia?
- How are products distributed in Analgesics in Latvia?
- How has the regulatory and operating environment for Analgesics changed in Latvia?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Analgesics
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Analgesics in Latvia - Category analysis
KEY DATA FINDINGS
Retail volume sales fall after pandemic highs
Rising popularity of generic brands drives price competition in analgesics
Topical analgesics remain a popular choice
Growing pressure from lower-cost alternatives
Topical analgesics poised for solid growth
Innovation needed as analgesics faces saturation
Consumer Health in Latvia - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Analgesics
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- Adult Acetaminophen
- Adult Aspirin
- Adult Combination Products - Analgesics
- Adult Diclofenac
- Adult Dipyrone
- Adult Ibuprofen
- Adult Ketoprofen
- Adult Naproxen
- Adult OTC Triptans
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- Paediatric Acetaminophen
- Paediatric Aspirin
- Paediatric Combination Products - Analgesics
- Paediatric Dipyrone
- Paediatric Ibuprofen
- Paediatric Naproxen
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- Acetaminophen
- Aspirin
- Combination Products - Analgesics
- Diclofenac
- Dipyrone
- Ibuprofen
- Ketoprofen
- Naproxen
- OTC Triptans
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- Topical Analgesics/Anaesthetic
Analgesics
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 definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Analgesics research and analysis database.
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