New Report Available: Analgesics in Latvia

Improving consumer purchasing power accompanied by higher disposable incomes resulted in strong growth within analgesics in 2014. People showed greater interest in more sophisticated products with higher dosages and flavours. Pharmacists became concerned about people using analgesics on a daily basis, which could have potentially negative effects in the long term. However, this usage was another factor that ensured the rapid growth of analgesics in 2014 in Latvia. Furthermore, research began into whether exceeding recommended dosages over longer a period has any negative impact on health.

Competitive Landscape

Bayer AG continued to be the leader within analgesics with a value share of 14% in 2014 in Latvia. Its successful performance is explained by the brands it owns such as Aspirin, Alka-Seltzer and Saridon. During 2014, Bayer AG also increased advertising budget by 50%, targeting television advertisements in order to increase brand awareness and expand loyal customer base.

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Industry Prospects

Analgesics is expected to post stable growth over the forecast period as people will be able to afford and use the products more often due to effects of positive economic development in Latvia. More expensive analgesics such as combinations with different flavours or dosage levels will stimulate further growth. However, it will be negatively influenced by higher competition amongst brands, which could potentially lead to lower unit prices.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Analgesics industry in Latvia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Analgesics industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Analgesics in Latvia market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Analgesics in Latvia?
* What are the major brands in Latvia?
* Are combination products with acetaminophen still popular?

Reasons to Get this Report

* Gain competitive intelligence about market leaders
* Track key industry trends, opportunities and threats

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