OTC Pharmaceuticals - Gambia

Gambia

Revenue in the OTC Pharmaceuticals market amounts to US$5.69m in 2024. The market is expected to grow annually by 8.69% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$1.75m 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$2.00 are generated in 2024.
In the OTC Pharmaceuticals market, 5.3% 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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Market

Region

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Currency

Analyst Opinion

The OTC Pharmaceuticals market in Gambia is experiencing steady growth due to increasing customer preferences for self-medication, a growing trend in the market. With a rise in health consciousness and awareness, more consumers are turning to over-the-counter (OTC) medications to treat minor ailments and manage their own health.

Customer preferences: Customers in Gambia are increasingly opting for OTC medications as they offer convenience and accessibility. Self-medication allows individuals to address common health issues without the need for a doctor's prescription or a visit to the clinic. This trend is driven by a desire for immediate relief and cost-effectiveness. Additionally, the availability of a wide range of OTC products in local pharmacies and supermarkets makes it easier for consumers to find suitable remedies for their ailments.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Gambia is the growing demand for vitamins and dietary supplements. As people become more health-conscious, there is a greater emphasis on preventive healthcare and maintaining overall well-being. This has led to an increased demand for products that support immune health, boost energy levels, and promote general wellness. Furthermore, the aging population in Gambia is driving the demand for OTC medications that cater to age-related health concerns such as joint health and cognitive function. Another trend in the market is the growing popularity of herbal and traditional remedies. Traditional medicine has a long-standing history in Gambia, and many consumers prefer natural alternatives to synthetic drugs. This trend is supported by the availability of herbal OTC products that claim to offer various health benefits. The use of traditional remedies is often passed down through generations and is deeply rooted in the culture and beliefs of the local population.

Local special circumstances: Gambia's healthcare system faces challenges such as limited access to healthcare facilities, especially in rural areas. This has contributed to the reliance on self-medication and the OTC Pharmaceuticals market. The affordability and accessibility of OTC medications make them a viable option for individuals who may not have easy access to healthcare services. Additionally, the high cost of prescription medications and the need for a doctor's appointment act as barriers to seeking professional medical advice for minor ailments.

Underlying macroeconomic factors: Gambia's growing economy and increasing disposable income levels have played a role in the development of the OTC Pharmaceuticals market. As people's purchasing power increases, they are more likely to spend on healthcare products, including OTC medications. The government's efforts to improve healthcare infrastructure and services have also contributed to the growth of the market. In conclusion, the OTC Pharmaceuticals market in Gambia is driven by customer preferences for self-medication, with a focus on convenience, accessibility, and cost-effectiveness. The market is witnessing trends such as the demand for vitamins and dietary supplements, as well as the popularity of herbal and traditional remedies. The local special circumstances, including limited access to healthcare facilities, further support the reliance on OTC medications. The underlying macroeconomic factors, such as the growing economy and increasing disposable income, contribute to the market's development.

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.