OTC Pharmaceuticals - Croatia | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$228.40m in 2024. The market is expected to grow annually by 4.59% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$54.93m 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$57.29 are generated in 2024.
In the OTC Pharmaceuticals market, 4.0% 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 Croatia is experiencing steady growth due to several factors.

Customer preferences: Customers in Croatia prefer OTC pharmaceuticals for various reasons. Firstly, OTC medications provide convenience as they can be purchased without a prescription, allowing customers to quickly and easily access the medications they need. Additionally, OTC medications are often more affordable than prescription drugs, making them a popular choice for customers who are looking to save money on healthcare expenses. Furthermore, customers appreciate the wide range of OTC options available, allowing them to choose the most suitable medication for their specific needs.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Croatia is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of their health and are seeking alternative treatments that are perceived as being more natural and less invasive. As a result, there has been a rise in the availability and sales of OTC products that are based on natural ingredients or traditional remedies. This trend is driven by the growing interest in holistic health and wellness, as well as the desire to reduce reliance on synthetic drugs. Another trend in the market is the increasing popularity of online sales channels. Customers in Croatia are increasingly turning to online platforms to purchase OTC pharmaceuticals due to the convenience and accessibility they offer. Online retailers provide a wide selection of products, competitive pricing, and the convenience of doorstep delivery. This trend has been accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across various industries.

Local special circumstances: Croatia has a well-established healthcare system that provides universal access to healthcare services. However, the system is facing challenges such as an aging population and increasing healthcare costs. These factors have contributed to the growing demand for OTC pharmaceuticals as customers seek self-care options and cost-effective solutions for minor health issues. Additionally, the country's tourism industry plays a significant role in the OTC Pharmaceuticals market, as tourists often purchase OTC medications for common ailments during their visits.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Croatia is influenced by several macroeconomic factors. The country has experienced stable economic growth in recent years, which has contributed to increased consumer spending power. This has allowed customers to allocate more of their budget towards healthcare expenses, including OTC pharmaceuticals. Additionally, the government's efforts to improve healthcare infrastructure and promote self-care have also contributed to the growth of the OTC Pharmaceuticals market. In conclusion, the OTC Pharmaceuticals market in Croatia is growing steadily due to customer preferences for convenience, affordability, and a wide range of options. The market is also influenced by trends such as the demand for natural remedies and the increasing popularity of online sales channels. Special circumstances, such as the country's healthcare system and tourism industry, further contribute to the market's development. These trends and circumstances are supported by underlying macroeconomic factors, including economic growth and government initiatives.

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 pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.