OTC Pharmaceuticals - Angola | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$166.50m in 2024. The market is expected to grow annually by 4.89% (CAGR 2024-2029).
The market's largest segment is the segment Analgesics with a market volume of US$49.00m in 2024.
In global comparison, most revenue is generated United States (US$41bn in 2024).
In relation to total population figures, per person revenues of US$4.41 are generated in 2024.
In the OTC Pharmaceuticals market, 0.2% of total revenue will be generated through online sales by 2024.

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.
For more information on the data displayed, use the info button next to the boxes.

Natural and synthetic agents
Analgesics (e.g. Asprin, Paracetamol)
Cough & Cold remedies (e.g. Vicks VapoRub)
Vitamins and Minerals
Skin treatment products

Prescription medicines
Homeopathic remedies

The OTC Pharmaceuticals market in Angola is experiencing significant growth due to several factors. Customer preferences in Angola are shifting towards self-medication and over-the-counter (OTC) products.

This is driven by several factors, including the increasing availability and affordability of OTC medicines, as well as the convenience they offer. Consumers in Angola are becoming more health-conscious and are seeking solutions for minor ailments that do not require a doctor's prescription. OTC pharmaceuticals provide them with a convenient and accessible option for managing their health.

Trends in the OTC Pharmaceuticals market in Angola include the increasing demand for common OTC products such as pain relievers, cough and cold remedies, and digestive health products. These products are widely available in pharmacies and supermarkets, making them easily accessible to consumers. Additionally, there is a growing trend towards natural and herbal remedies, as consumers seek alternatives to traditional pharmaceuticals.

Local special circumstances in Angola also contribute to the development of the OTC Pharmaceuticals market. The country has a high burden of communicable diseases, such as malaria and HIV/AIDS, which has led to an increased focus on public health and healthcare access. This has created opportunities for the OTC Pharmaceuticals market to expand, as consumers seek preventive and self-care solutions.

Underlying macroeconomic factors also play a role in the growth of the OTC Pharmaceuticals market in Angola. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed consumers to allocate more of their budget towards healthcare and self-medication.

In conclusion, the OTC Pharmaceuticals market in Angola is developing due to changing customer preferences towards self-medication, increasing availability of OTC products, and favorable macroeconomic factors. This presents opportunities for both local and international pharmaceutical companies to expand their presence in the market.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.