OTC Pharmaceuticals - Ethiopia | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$369.50m in 2024. The market is expected to grow annually by 11.26% (CAGR 2024-2029).
The market's largest segment is the segment Analgesics with a market volume of US$105.70m 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$2.85 are generated in 2024.
In the OTC Pharmaceuticals market, 2.3% 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.
For more information on the data displayed, use the info button next to the boxes.

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 Ethiopia is experiencing significant growth and development.

Customer preferences: Customers in Ethiopia are increasingly turning to over-the-counter (OTC) pharmaceutical products for their healthcare needs. This shift in consumer behavior can be attributed to several factors. Firstly, there is a growing awareness and understanding of the benefits and convenience of OTC medications. Consumers are realizing that they can effectively treat common ailments and minor health issues without the need for a prescription or a visit to a healthcare professional. Additionally, the affordability of OTC medications compared to prescription drugs is a major factor driving customer preferences. Many individuals in Ethiopia do not have access to comprehensive healthcare coverage and therefore rely on OTC products as a more cost-effective option.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Ethiopia is the increasing availability and accessibility of these products. Pharmacies and drugstores are expanding their product offerings to cater to the growing demand. This trend is also supported by the government's efforts to improve healthcare infrastructure and increase access to essential medicines. As a result, consumers now have a wider range of OTC options to choose from, including pain relievers, cough and cold remedies, and digestive health products. Another trend in the market is the rising popularity of herbal and traditional remedies. Ethiopia has a rich tradition of herbal medicine, and many consumers are turning to these natural remedies for their healthcare needs. This trend is driven by a desire for more holistic and natural approaches to health and wellness. As a result, there has been a surge in the availability of herbal OTC products in the market.

Local special circumstances: Ethiopia is a country with a large rural population and limited access to healthcare facilities. This has led to a reliance on self-medication and OTC products. In many remote areas, there are few healthcare professionals available, and individuals often have to travel long distances to access medical care. In such circumstances, OTC medications provide a convenient and accessible solution for managing common health issues.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Ethiopia is also influenced by several macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and improved living standards for many Ethiopians. This has resulted in a greater ability to afford healthcare products, including OTC medications. Furthermore, the government's commitment to improving healthcare access and infrastructure has created a favorable environment for the growth of the OTC Pharmaceuticals market. The government has implemented policies to reduce the cost of healthcare and increase the availability of essential medicines, including OTC products. These initiatives have contributed to the overall development and expansion of the market. In conclusion, the OTC Pharmaceuticals market in Ethiopia is experiencing growth and development due to changing customer preferences, increasing availability of OTC products, the popularity of herbal remedies, local special circumstances, and underlying macroeconomic factors. As the country continues to invest in healthcare infrastructure and improve access to essential medicines, the market is expected to further expand in the coming years.

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.