OTC Pharmaceuticals - Argentina

Argentina

Revenue in the OTC Pharmaceuticals market amounts to US$843.10m in 2024. The market is expected to grow annually by 4.63% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$251.00m 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$18.31 are generated in 2024.
In the OTC Pharmaceuticals market, 7.1% 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.
For more information on the data displayed, use the info button next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in Argentina is experiencing significant growth and development.

Customer preferences: In Argentina, customers have shown a strong preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience and accessibility of these products. Customers appreciate the ability to purchase medications without a prescription, allowing them to address minor health issues quickly and easily. Additionally, OTC pharmaceuticals often offer a more affordable option compared to prescription medications, making them a popular choice among cost-conscious consumers.

Trends in the market: One major trend in the OTC Pharmaceuticals market in Argentina is the increasing demand for natural and herbal remedies. Customers are becoming more health-conscious and seeking alternative treatments that are perceived as being more natural and less harmful to the body. This trend is driving the growth of herbal and natural OTC products in the market. Manufacturers are responding to this demand by introducing a wide range of natural remedies, including herbal supplements and homeopathic treatments. Another trend in the market is the growing popularity of online sales channels for OTC pharmaceuticals. With the increasing penetration of internet and smartphones in Argentina, customers are increasingly turning to online platforms to purchase their medications. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wider range of products compared to traditional brick-and-mortar stores. Online pharmacies and e-commerce platforms are capitalizing on this trend by offering a diverse selection of OTC pharmaceuticals and providing doorstep delivery services.

Local special circumstances: Argentina has a well-established healthcare system that provides universal access to healthcare services. However, the public healthcare system is often burdened and may face challenges in meeting the healthcare needs of the population. As a result, many individuals turn to OTC pharmaceuticals as a first line of defense for minor ailments and health issues. This reliance on OTC medications has contributed to the growth of the market in Argentina.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Argentina is also influenced by underlying macroeconomic factors. The country has experienced periods of economic instability in recent years, including high inflation rates and currency devaluation. These economic challenges have impacted the purchasing power of consumers and their ability to afford prescription medications. As a result, many individuals have turned to OTC pharmaceuticals as a more affordable alternative. The economic conditions in Argentina have created a favorable environment for the growth of the OTC Pharmaceuticals market. In conclusion, the OTC Pharmaceuticals market in Argentina is witnessing significant growth and development. Customer preferences for convenience, accessibility, and affordability are driving the demand for OTC products. The market is also influenced by trends such as the increasing popularity of natural remedies and the rise of online sales channels. Additionally, local special circumstances, such as reliance on OTC medications due to challenges in the public healthcare system, contribute to the market's growth. The underlying macroeconomic factors, including economic instability and currency devaluation, further support the expansion of the OTC Pharmaceuticals market in Argentina.

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.