OTC Pharmaceuticals - Burundi

Burundi

Revenue in the OTC Pharmaceuticals market amounts to US$10.56m in 2024. The market is expected to grow annually by 10.48% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$2.67m 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$0.78 are generated in 2024.
In the OTC Pharmaceuticals market, 1.0% 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 Burundi is experiencing steady growth due to increasing customer preferences for self-medication, rising healthcare awareness, and the presence of local special circumstances.

Customer preferences: Customers in Burundi are increasingly opting for over-the-counter (OTC) pharmaceutical products for self-medication. This trend is driven by the convenience and accessibility of OTC products, as they do not require a prescription and can be purchased directly from pharmacies or retail outlets. Additionally, the growing healthcare awareness among the population has led to an increased demand for OTC pharmaceuticals, as people are becoming more proactive in managing their health and seeking quick remedies for common ailments.

Trends in the market: The OTC Pharmaceuticals market in Burundi is witnessing several key trends. Firstly, there is a growing demand for OTC products related to pain relief, cough and cold, and gastrointestinal disorders. These products are widely available and affordable, making them popular choices for self-medication. Secondly, there is an increasing trend of OTC products being marketed as natural or herbal remedies, as consumers are becoming more conscious of the ingredients in the products they use. This trend is driven by the perception that natural remedies are safer and have fewer side effects. Lastly, the market is also witnessing a rise in the availability of OTC products online, with e-commerce platforms offering a wide range of pharmaceutical products for easy purchase and delivery.

Local special circumstances: Burundi has a relatively low healthcare expenditure and limited access to healthcare facilities, especially in rural areas. This has contributed to the popularity of self-medication and the demand for OTC pharmaceutical products. The affordability and accessibility of OTC products make them a viable option for many individuals who may not have access to healthcare services or cannot afford prescription medications. Additionally, the presence of traditional medicine practices in Burundi has also influenced the preference for OTC products, as they are often seen as a bridge between traditional and modern medicine.

Underlying macroeconomic factors: The growth of the OTC Pharmaceuticals market in Burundi is also influenced by underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and improved living standards for the population. This has resulted in a higher demand for healthcare products and services, including OTC pharmaceuticals. Additionally, government initiatives to improve healthcare infrastructure and increase access to healthcare services have also contributed to the growth of the OTC Pharmaceuticals market in Burundi.

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.