OTC Pharmaceuticals - Greece

  • Greece
  • Revenue in the OTC Pharmaceuticals market amounts to US$833.40m in 2024. The market is expected to grow annually by 2.62% (CAGR 2024-2029).
  • The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$351.80m 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$80.89 are generated in 2024.
  • In the OTC Pharmaceuticals market, 16.4% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The OTC Pharmaceuticals market in Greece has been experiencing steady growth in recent years. Customer preferences in the Greek OTC Pharmaceuticals market have been influenced by several factors.

Firstly, there is a growing trend towards self-medication among consumers, driven by increased awareness and access to information. Consumers are becoming more proactive in managing their own health and are seeking products that can help them treat common ailments without the need for a prescription. This has led to an increased demand for OTC pharmaceuticals in Greece.

Another customer preference in the Greek market is the preference for natural and herbal remedies. Greek consumers have a long history of using traditional herbal medicines, and this preference has continued into the modern era. Many consumers are seeking out OTC pharmaceuticals that contain natural ingredients and are perceived to be more holistic and gentle on the body.

Trends in the Greek OTC Pharmaceuticals market include the increasing availability of OTC products in pharmacies and supermarkets. This has made it easier for consumers to access these products and has contributed to the growth of the market. In addition, there has been a shift towards online purchasing of OTC pharmaceuticals, with many consumers opting to buy these products through e-commerce platforms.

This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. Local special circumstances in Greece have also influenced the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system, which includes a strong network of pharmacies.

This has made it easier for OTC pharmaceuticals to be distributed and has contributed to the growth of the market. Furthermore, Greece has a high prevalence of chronic diseases, such as diabetes and cardiovascular disease, which has increased the demand for OTC pharmaceuticals that can help manage these conditions. Underlying macroeconomic factors have also played a role in the development of the OTC Pharmaceuticals market in Greece.

The country has faced economic challenges in recent years, including a debt crisis and austerity measures. This has led to a decrease in public spending on healthcare and an increased reliance on OTC pharmaceuticals as a more affordable alternative to prescription medications. In conclusion, the OTC Pharmaceuticals market in Greece is experiencing growth due to customer preferences for self-medication, natural remedies, and increased availability of products.

Local special circumstances, such as the well-established healthcare system and high prevalence of chronic diseases, have also contributed to market development. The underlying macroeconomic factors, including economic challenges and decreased public spending on healthcare, have further shaped the market.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)