OTC Pharmaceuticals - Iraq | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$602.10m in 2024. The market is expected to grow annually by 2.53% (CAGR 2024-2029).
The market's largest segment is the segment Analgesics with a market volume of US$128.60m 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$12.94 are generated in 2024.
In the OTC Pharmaceuticals market, 0.4% 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 Iraq is experiencing significant growth and development in recent years.

Customer preferences: Customers in Iraq are increasingly turning to over-the-counter (OTC) pharmaceutical products for their healthcare needs. This shift in preference can be attributed to several factors. Firstly, there is a growing awareness and acceptance of self-medication among the population. Consumers are becoming more knowledgeable about common health issues and are seeking convenient and accessible solutions. OTC medicines provide a quick and affordable option for treating minor ailments without the need for a prescription. Furthermore, the younger generation in Iraq is more inclined towards self-care and taking responsibility for their own health. They are more likely to seek out OTC products for preventive measures and minor health concerns. This trend is driven by the desire for convenience and the availability of a wide range of OTC products in pharmacies and retail outlets.

Trends in the market: The OTC Pharmaceuticals market in Iraq is witnessing a surge in demand for products related to pain relief, cold and flu, digestive health, and vitamins and supplements. These categories are experiencing robust growth due to the increasing prevalence of lifestyle-related health issues and the desire for preventive healthcare. Consumers are seeking products that can alleviate common symptoms and improve overall well-being.

Local special circumstances: Iraq is a country with a high burden of communicable diseases and a significant number of internally displaced people due to conflicts and instability. This has led to an increased demand for OTC pharmaceutical products, particularly for treatments related to respiratory infections, gastrointestinal disorders, and skin conditions. The availability of OTC medicines plays a crucial role in providing accessible healthcare solutions to the population, especially in areas where access to healthcare facilities is limited.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Iraq is also influenced by macroeconomic factors such as population growth, urbanization, and rising disposable incomes. The country has a young and growing population, which translates to a larger consumer base for OTC products. Urbanization is leading to increased access to modern retail outlets and pharmacies, further driving the demand for OTC medicines. Additionally, rising disposable incomes are enabling consumers to spend more on healthcare products, including OTC pharmaceuticals. In conclusion, the OTC Pharmaceuticals market in Iraq is experiencing significant growth and development. Customer preferences for self-medication, preventive healthcare, and convenience are driving the demand for OTC products. The market is witnessing a surge in demand for pain relief, cold and flu, digestive health, and vitamins and supplements. Local special circumstances, such as the high burden of communicable diseases and population displacement, further contribute to the demand for OTC medicines. Underlying macroeconomic factors, including population growth, urbanization, and rising disposable incomes, are also fueling the market growth.

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 global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.