OTC Pharmaceuticals - Algeria

Algeria

Revenue in the OTC Pharmaceuticals market amounts to US$704.50m in 2024. The market is expected to grow annually by 2.88% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$268.10m in 2024.
In global comparison, most revenue is generated in the United States (US$41,240m in 2024).
In relation to total population figures, per person revenues of US$15.22 are generated in 2024.
In the OTC Pharmaceuticals market, 2.9% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Analyst Opinion

The OTC Pharmaceuticals market in Algeria is experiencing steady growth due to several key factors. Customer preferences for self-medication and convenience, along with an increasing awareness of health and wellness, are driving the demand for over-the-counter (OTC) products.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the market. Customer preferences in Algeria are shifting towards self-medication and convenience. Consumers are increasingly seeking OTC pharmaceuticals for common ailments and minor health issues, as they provide a quick and accessible solution.

The convenience of purchasing OTC products without a prescription is also appealing to customers who may not have easy access to healthcare professionals. This preference for self-medication is driving the demand for a wide range of OTC pharmaceuticals in Algeria. Trends in the OTC Pharmaceuticals market in Algeria also reflect a growing awareness of health and wellness.

Consumers are becoming more proactive in managing their health and are seeking preventive measures to avoid illness. This trend is driving the demand for OTC products that promote overall well-being, such as vitamins, dietary supplements, and herbal remedies. The market is also witnessing an increase in the demand for OTC products that address specific health concerns, such as digestive health, sleep disorders, and pain relief.

Local special circumstances in Algeria are contributing to the development of the OTC Pharmaceuticals market. The country has a large population with limited access to healthcare facilities, particularly in rural areas. This lack of access to healthcare professionals and prescription medications further drives the demand for OTC products as a convenient and accessible alternative.

Additionally, the high cost of prescription medications in Algeria makes OTC pharmaceuticals an affordable option for many consumers. Underlying macroeconomic factors are also playing a role in the growth of the OTC Pharmaceuticals market in Algeria. The country has been experiencing economic growth, leading to an increase in disposable income among the population.

This rise in disposable income allows consumers to allocate a portion of their budget towards healthcare and wellness products, including OTC pharmaceuticals. Furthermore, the government's efforts to improve healthcare infrastructure and expand access to healthcare services are contributing to the development of the OTC market. In conclusion, the OTC Pharmaceuticals market in Algeria is developing due to customer preferences for self-medication and convenience, an increasing awareness of health and wellness, local special circumstances, and underlying macroeconomic factors.

The demand for OTC products is driven by consumers' desire for quick and accessible solutions to common health issues, as well as their proactive approach to managing their well-being. The market is expected to continue growing as the population becomes more health-conscious and the government invests in healthcare infrastructure.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.