OTC Pharmaceuticals - Brunei Darussalam

Brunei Darussalam

Revenue in the OTC Pharmaceuticals market amounts to US$21.99m in 2024. The market is expected to grow annually by 4.34% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$7.60m 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$48.25 are generated in 2024.
In the OTC Pharmaceuticals market, 7.0% 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 Brunei Darussalam is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Brunei Darussalam are shifting towards self-medication and convenience.

With increasing awareness about health and wellness, consumers are becoming more proactive in managing their own health. They are opting for over-the-counter (OTC) medications that are easily accessible and do not require a prescription. This trend is driven by the desire for convenience and cost-effectiveness.

Additionally, the younger population in Brunei Darussalam, who are more tech-savvy and independent, are inclined towards self-care and prefer OTC medications for common ailments. Trends in the OTC Pharmaceuticals market in Brunei Darussalam are aligned with global and regional trends. There is a growing demand for natural and herbal remedies, driven by the perception that they are safer and have fewer side effects compared to conventional medications.

This trend is fueled by the increasing popularity of alternative medicine and the preference for holistic approaches to health. Manufacturers are responding to this demand by introducing a wide range of natural and herbal OTC products in the market. Another emerging trend in the OTC Pharmaceuticals market in Brunei Darussalam is the focus on preventive healthcare.

Consumers are becoming more proactive in maintaining their health and preventing diseases. This has led to an increased demand for OTC products such as vitamins, supplements, and preventive medications. Manufacturers are capitalizing on this trend by offering a variety of preventive healthcare products that cater to different age groups and health concerns.

Local special circumstances in Brunei Darussalam are also influencing the OTC Pharmaceuticals market. The country has a small population and a high per capita income, which creates a favorable environment for the growth of the OTC market. The government of Brunei Darussalam has implemented policies to promote self-care and encourage the use of OTC medications.

This includes initiatives to educate the public about the benefits of self-medication and the responsible use of OTC products. Underlying macroeconomic factors such as economic stability and a growing middle class are also contributing to the development of the OTC Pharmaceuticals market in Brunei Darussalam. As the economy grows, consumers have more disposable income to spend on healthcare products, including OTC medications.

The increasing urbanization and modernization in the country have also led to lifestyle changes and a higher prevalence of lifestyle-related diseases, driving the demand for OTC products. In conclusion, the OTC Pharmaceuticals market in Brunei Darussalam is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication, the demand for natural and herbal remedies, the focus on preventive healthcare, and the government's support for self-care are driving the growth of the market.

With a stable economy and a growing middle class, the OTC Pharmaceuticals market in Brunei Darussalam is expected to continue expanding in the coming years.

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.