Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: Worldwide, India, Philippines, United States, Europe
The OTC Pharmaceuticals market in EMEA is experiencing significant growth and development.
Customer preferences: Customers in the EMEA region are increasingly turning to over-the-counter (OTC) pharmaceuticals for their healthcare needs. This shift can be attributed to several factors. Firstly, there is a growing trend towards self-care and self-medication, as individuals seek to take control of their own health and well-being. OTC pharmaceuticals provide a convenient and accessible option for treating common ailments and minor health issues without the need for a prescription. Additionally, the rising cost of healthcare and the increasing burden on healthcare systems have led many consumers to seek more affordable alternatives, making OTC pharmaceuticals an attractive option.
Trends in the market: One of the key trends in the OTC Pharmaceuticals market in EMEA is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are seeking out natural alternatives to traditional pharmaceuticals. This trend is driven by a desire for more holistic approaches to healthcare and a growing awareness of the potential side effects of certain medications. As a result, companies in the OTC pharmaceutical industry are diversifying their product offerings to include more natural and herbal remedies, catering to this growing demand.
Local special circumstances: Each country in the EMEA region has its own unique set of circumstances that influence the OTC Pharmaceuticals market. For example, in Western European countries, where healthcare systems are well-established and access to healthcare is generally good, consumers may be more inclined to seek OTC pharmaceuticals for minor health issues. On the other hand, in Eastern European countries, where healthcare infrastructure may be less developed and access to healthcare may be more limited, OTC pharmaceuticals may play a larger role in meeting the healthcare needs of the population.
Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the OTC Pharmaceuticals market in EMEA. Firstly, the region has a large and growing population, which provides a significant customer base for OTC pharmaceutical products. Additionally, rising disposable incomes in many countries in the region have increased the affordability of OTC pharmaceuticals, making them more accessible to a wider range of consumers. Furthermore, the aging population in many EMEA countries is driving demand for OTC pharmaceuticals, as older individuals seek to manage their health and well-being. In conclusion, the OTC Pharmaceuticals market in EMEA is experiencing growth and development due to changing customer preferences, including a shift towards self-care and the demand for natural remedies. Local special circumstances and underlying macroeconomic factors also contribute to the growth of the market. As the region continues to evolve, the OTC Pharmaceuticals market is expected to expand further and provide consumers with a wide range of options for managing their healthcare needs.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)