OTC Pharmaceuticals - Belgium | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$1.05bn in 2024. The market is expected to grow annually by 2.94% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$281.30m 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$89.86 are generated in 2024.
In the OTC Pharmaceuticals market, 20.7% 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 Belgium has been experiencing steady growth in recent years. Customer preferences have shifted towards self-medication and convenience, driving the demand for over-the-counter (OTC) products.

Furthermore, several trends in the market have contributed to this growth, including the increasing availability of OTC products, the rising prevalence of chronic diseases, and the growing aging population. Additionally, local special circumstances and underlying macroeconomic factors have also played a role in shaping the OTC Pharmaceuticals market in Belgium. Customer preferences in Belgium have shifted towards self-medication and convenience.

Consumers are increasingly seeking OTC products to treat minor ailments and manage their health without the need for a doctor's prescription. This preference for self-care is driven by factors such as cost-effectiveness, ease of access, and the desire for immediate relief. Furthermore, consumers appreciate the convenience of being able to purchase OTC products at their local pharmacies or supermarkets without the need for a doctor's appointment.

Several trends in the OTC Pharmaceuticals market have contributed to its growth in Belgium. Firstly, there has been an increasing availability of OTC products in the market. Pharmaceutical companies are expanding their product portfolios to include a wide range of OTC medications, catering to the diverse needs of consumers.

This has resulted in a greater variety of OTC products being available on the shelves of pharmacies and supermarkets, providing consumers with more options to choose from. Secondly, the rising prevalence of chronic diseases has also fueled the demand for OTC medications. Chronic conditions such as cardiovascular diseases, diabetes, and respiratory disorders require long-term management, and OTC products play a crucial role in providing relief and support to patients.

As the number of individuals diagnosed with chronic diseases continues to rise in Belgium, the demand for OTC medications to manage these conditions is expected to increase. Another factor driving the growth of the OTC Pharmaceuticals market in Belgium is the growing aging population. As the population ages, there is an increased need for OTC products to address age-related health issues such as joint pain, digestive problems, and sleep disorders.

The elderly population often prefers self-medication for minor ailments and relies on OTC products for their healthcare needs. Local special circumstances in Belgium also contribute to the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system, with a strong network of pharmacies and healthcare professionals.

This infrastructure supports the distribution and accessibility of OTC products, making them readily available to consumers. Additionally, Belgium has a high level of health literacy among its population, with individuals actively seeking information and taking responsibility for their health. This awareness and engagement with healthcare contribute to the demand for OTC products.

Underlying macroeconomic factors also play a role in the growth of the OTC Pharmaceuticals market in Belgium. The country has a stable economy and a high standard of living, allowing consumers to afford OTC medications. Furthermore, the government's commitment to healthcare and the provision of universal healthcare coverage ensure that individuals have access to affordable healthcare services, including OTC products.

This favorable economic environment supports the growth of the OTC Pharmaceuticals market in Belgium. In conclusion, the OTC Pharmaceuticals market in Belgium is experiencing steady growth due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing availability of OTC products, the rising prevalence of chronic diseases, and the growing aging population are driving the demand for OTC medications.

Additionally, Belgium's well-established healthcare system, high health literacy, and favorable economic environment contribute to the development of the OTC Pharmaceuticals market in the country.

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.