OTC Pharmaceuticals - Gabon

Gabon

Revenue in the OTC Pharmaceuticals market amounts to US$38.60m in 2024. The market is expected to grow annually by 4.82% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$14.66m 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$15.54 are generated in 2024.
In the OTC Pharmaceuticals market, 2.3% 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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Analyst Opinion

The OTC Pharmaceuticals market in Gabon is experiencing significant growth due to various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Gabon are driving the growth of the OTC Pharmaceuticals market.

Consumers in Gabon are increasingly seeking self-medication options for common ailments and minor health issues. This preference for self-care is fueled by the convenience and accessibility of over-the-counter medications, which do not require a prescription and can be easily purchased from pharmacies or even supermarkets. Additionally, the rising healthcare costs and limited access to healthcare facilities in some areas of Gabon are also contributing to the growing demand for OTC Pharmaceuticals.

Trends in the market are also playing a significant role in the development of the OTC Pharmaceuticals market in Gabon. One of the key trends is the increasing availability and awareness of OTC medications. Pharmaceutical companies are expanding their product portfolios to include a wider range of OTC medications, targeting specific health conditions such as pain relief, cough and cold, digestive health, and skincare.

This expansion is driven by the growing demand for OTC medications and the potential for higher profit margins compared to prescription drugs. Local special circumstances in Gabon are also influencing the growth of the OTC Pharmaceuticals market. The country has a relatively young population with a high prevalence of lifestyle-related health issues such as obesity, diabetes, and hypertension.

This has led to an increased demand for OTC medications that can help manage and treat these conditions. Additionally, the government in Gabon has implemented various healthcare initiatives to improve access to healthcare services, which has further contributed to the growth of the OTC Pharmaceuticals market. Underlying macroeconomic factors are also playing a role in the development of the OTC Pharmaceuticals market in Gabon.

The country has experienced steady economic growth in recent years, leading to an increase in disposable income and a rise in the middle-class population. This has resulted in higher healthcare spending and increased affordability of OTC medications. Furthermore, the government in Gabon has implemented favorable policies to attract foreign investment in the pharmaceutical sector, which has led to the entry of multinational pharmaceutical companies and the expansion of the OTC Pharmaceuticals market.

In conclusion, the OTC Pharmaceuticals market in Gabon is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for self-medication options, the availability of a wider range of OTC medications, the prevalence of lifestyle-related health issues, and the favorable macroeconomic environment are all contributing to the development of the OTC Pharmaceuticals market in Gabon.

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.