OTC Pharmaceuticals - Cameroon | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$151.70m in 2024. The market is expected to grow annually by 7.27% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$64.51m 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$5.16 are generated in 2024.
In the OTC Pharmaceuticals market, 0.7% 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.
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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 Cameroon has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences in Cameroon have played a significant role in the growth of the OTC Pharmaceuticals market. Consumers in Cameroon have shown a preference for self-medication and over-the-counter products due to factors such as convenience, affordability, and a lack of access to healthcare professionals. This preference has driven the demand for OTC Pharmaceuticals, leading to an expansion of the market.

Trends in the market have also contributed to the growth of the OTC Pharmaceuticals market in Cameroon. One notable trend is the increasing awareness and adoption of preventive healthcare measures. Consumers are becoming more proactive in managing their health and are seeking OTC pharmaceutical products that can help them prevent or alleviate common health conditions.

This trend has led to an increase in the demand for OTC medications, vitamins, and dietary supplements. Another trend in the market is the rising popularity of natural and herbal remedies. Consumers in Cameroon are increasingly turning to traditional medicine and natural remedies for their healthcare needs.

This shift in consumer preferences has created opportunities for companies to introduce OTC pharmaceutical products that are derived from natural ingredients or are based on traditional remedies. Local special circumstances in Cameroon have also influenced the growth of the OTC Pharmaceuticals market. The country has a large and growing population, with a significant portion living in rural areas with limited access to healthcare facilities.

This lack of access to healthcare services has driven the demand for OTC pharmaceutical products as consumers rely on self-medication to address their healthcare needs. Underlying macroeconomic factors have also played a role in the growth of the OTC Pharmaceuticals market in Cameroon. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending power.

This has allowed consumers to allocate a larger portion of their budget towards healthcare, including the purchase of OTC pharmaceutical products. In conclusion, the OTC Pharmaceuticals market in Cameroon has been growing steadily due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The preference for self-medication, increasing awareness of preventive healthcare measures, the popularity of natural and herbal remedies, limited access to healthcare services, and economic growth have all contributed to the expansion of the market.

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.