OTC Pharmaceuticals - Central & Western Europe

Central & Western Europe

Revenue in the OTC Pharmaceuticals market amounts to US$30.94bn in 2024. The market is expected to grow annually by 4.00% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$9.04bn 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$92.21 are generated in 2024.
In the OTC Pharmaceuticals market, 19.1% 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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Market

Region

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in Central & Western Europe is experiencing significant growth and development.

Customer preferences: Consumers in Central & Western Europe are increasingly turning to over-the-counter (OTC) pharmaceuticals for their healthcare needs. This shift in preference can be attributed to several factors. Firstly, consumers are becoming more health-conscious and proactive in managing their own health. They are seeking convenient and accessible solutions for common ailments and minor health issues. OTC pharmaceuticals offer a wide range of products that cater to these needs, providing consumers with the ability to self-medicate and alleviate symptoms without the need for a prescription. Additionally, the increasing cost of healthcare and the desire for cost-effective solutions have also contributed to the growing popularity of OTC pharmaceuticals.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Central & Western Europe is the growing demand for natural and herbal remedies. Consumers are increasingly seeking products that are perceived as more natural, safe, and with fewer side effects. This trend is driven by a desire for more holistic and sustainable approaches to healthcare. As a result, there has been an increase in the availability and variety of natural and herbal OTC pharmaceutical products in the market. Another trend in the market is the rise of online sales channels. With the increasing prevalence of e-commerce, consumers are now able to purchase OTC pharmaceutical products conveniently from the comfort of their own homes. Online platforms offer a wide range of products, competitive prices, and the convenience of doorstep delivery. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping across various industries, including OTC pharmaceuticals.

Local special circumstances: Each country in Central & Western Europe has its own unique set of circumstances that influence the OTC Pharmaceuticals market. For example, in countries with a strong tradition of self-medication, such as Germany and the Netherlands, the market for OTC pharmaceuticals is well-established and highly developed. These countries have a long history of consumer trust in OTC products and a well-regulated healthcare system that supports the availability and accessibility of these products. On the other hand, in countries with a more conservative approach to self-medication, such as France and Italy, the OTC Pharmaceuticals market is still growing and evolving. These countries have stricter regulations and a cultural preference for prescription-based healthcare. However, there is a gradual shift in consumer attitudes towards self-medication, driven by factors such as increasing healthcare costs and the desire for convenience.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Central & Western Europe is also influenced by underlying macroeconomic factors. Factors such as population demographics, income levels, and government healthcare policies play a significant role in shaping the market dynamics. For example, an aging population and increasing life expectancy contribute to the growing demand for OTC pharmaceuticals, as older individuals often require medications for chronic conditions and age-related ailments. Additionally, government policies that promote self-care and self-medication, such as the availability of OTC drugs in pharmacies without a prescription, also drive market growth. In conclusion, the OTC Pharmaceuticals market in Central & Western Europe is experiencing growth and development due to changing customer preferences, including a preference for natural and herbal remedies, and the rise of online sales channels. Local special circumstances, such as cultural attitudes towards self-medication, also influence the market dynamics. Underlying macroeconomic factors, including population demographics and government healthcare policies, further contribute to the market's growth.

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.