OTC Pharmaceuticals - Belarus

Belarus

Revenue in the OTC Pharmaceuticals market amounts to US$516.20m in 2024. The market is expected to grow annually by -1.60% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$280.90m 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$54.59 are generated in 2024.
In the OTC Pharmaceuticals market, 2.6% 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 Belarus is experiencing steady growth due to increasing customer preferences for self-medication, a rising trend in the market for natural and herbal remedies, and the local special circumstances that are driving the demand for over-the-counter drugs.

Customer preferences: Belarusian consumers are increasingly opting for self-medication as a convenient and cost-effective way to treat minor ailments. This trend is driven by the growing awareness and availability of over-the-counter pharmaceuticals in the country. Consumers are more inclined to purchase OTC drugs for common health issues such as headaches, colds, and allergies, as they can easily access these products without the need for a prescription. The convenience and accessibility of OTC drugs align with the busy lifestyles of Belarusians, who prefer to address minor health concerns independently.

Trends in the market: The OTC Pharmaceuticals market in Belarus is witnessing a growing demand for natural and herbal remedies. Consumers are becoming more health-conscious and are seeking alternative treatments that are perceived to be safer and have fewer side effects compared to traditional pharmaceuticals. This trend is in line with the global shift towards natural and organic products. Market players are responding to this demand by introducing a wide range of natural and herbal OTC products, such as dietary supplements, herbal teas, and homeopathic remedies. The availability of these products is driving the growth of the OTC Pharmaceuticals market in Belarus.

Local special circumstances: Belarus has a well-developed healthcare system, with a high level of accessibility to healthcare services. However, the country also faces challenges such as long waiting times and limited availability of certain medications. In such circumstances, over-the-counter pharmaceuticals provide a convenient solution for consumers to address their immediate health needs without having to rely solely on the healthcare system. This has contributed to the growing demand for OTC drugs in the country.

Underlying macroeconomic factors: Belarus has experienced stable economic growth in recent years, which has contributed to the increasing purchasing power of consumers. As disposable incomes rise, consumers are more willing to spend on healthcare products, including over-the-counter pharmaceuticals. The government's focus on improving healthcare infrastructure and increasing access to affordable healthcare services has also played a role in driving the growth of the OTC Pharmaceuticals market in Belarus. In conclusion, the OTC Pharmaceuticals market in Belarus is growing due to customer preferences for self-medication, the rising trend in natural and herbal remedies, local special circumstances that drive the demand for over-the-counter drugs, and underlying macroeconomic factors such as stable economic growth and government initiatives to improve healthcare access.

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.