MEA Analgesics Market Posted 3% CAGR during 2012-2017, States Euromonitor in Its New Research Report Available at MarketPublishers.com
28 Nov 2017 • by Natalie Aster
LONDON – During 2012-2017, the Middle East & Africa (MEA) was the 2nd-fastest evolving market for analgesics, registering a 3% CAGR, and overtopped only in speed by APAC. The regional market growth is driven mainly by a growing middle class with a larger portion of disposable income spent on OTC products, and governments’ focus on preventive public health measures, that has resulted in an absolute retail sales value growth of USD 398 million worldwide over the review period.
Saudi Arabia is the largest market for analgesics in the MEA region, with total sales of USD 429 million as of 2017, far outpacing Algeria with USD 239 million and South Africa with USD 234 million. Through to 2022, the Saudi Arabian market is projected to see a 6% CAGR in the offing, driving the overall growth in the region.
Companies such as GlaxoSmithKline, Sanofi, and Reckitt Benckiser are the top players grabbing the largest market shares of 18%, 7%, and 3%, respectively, as of 2017. These western-owned firms benefited from a strong customer preference for branded products that are typically seen as more efficacious and safer as against local alternatives.
New research report “Analgesics in the Middle East & Africa” created by Euromonitor International offers a detailed analysis of the consumer health market scenario and top trends in the MEA region.
The report evaluates the size, growth trends and prospective opportunities in the market. The study offers an all-round analysis of the impacts of varying regulations, R&D breakthroughs and public health concerns on the marketplace and top players. It also explores consumers’ attitudes towards the products and their personal healthcare demands. The research study sheds light on the competitive scenario, gives an analysis of the prominent players and major brands. Detailed five-year forecasts of the market’s prospective development are also available.
Get access to a full collection of the publisher’s research reports at Euromonitor International page.