OTC Pharmaceuticals - Ireland | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$360.20m in 2024. The market is expected to grow annually by 3.59% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$86.63m 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$70.77 are generated in 2024.
In the OTC Pharmaceuticals market, 19.1% 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 Ireland has experienced significant growth in recent years, driven by changing customer preferences and trends in the market. Customer preferences in Ireland have shifted towards self-care and self-medication, with consumers increasingly seeking out OTC products for minor ailments and healthcare needs.

This trend is driven by several factors, including convenience, cost-effectiveness, and a desire for greater control over one's own health. As a result, there has been a growing demand for OTC pharmaceuticals in Ireland, with consumers actively seeking out these products in pharmacies and retail stores. In addition to changing customer preferences, there are several trends in the OTC Pharmaceuticals market in Ireland that are contributing to its development.

One such trend is the increasing availability and accessibility of OTC products. Pharmacies and retail stores have expanded their product offerings, making a wider range of OTC pharmaceuticals readily available to consumers. This trend is also supported by advancements in technology, with online platforms and e-commerce making it easier for consumers to access and purchase OTC products.

Another trend in the market is the growing emphasis on preventive healthcare. Consumers in Ireland are becoming more proactive in managing their health and are seeking out OTC products that can help prevent illness and maintain overall well-being. This trend is reflected in the increasing demand for vitamins, dietary supplements, and other preventive healthcare products in the OTC Pharmaceuticals market.

Local special circumstances in Ireland also play a role in the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system, with a high level of healthcare infrastructure and access to healthcare professionals. This enables consumers to make informed decisions about their healthcare needs and choose appropriate OTC products.

Additionally, Ireland has a strong pharmaceutical industry, with several multinational companies operating in the country. This local expertise and presence contribute to the availability and quality of OTC pharmaceuticals in the market. Underlying macroeconomic factors also influence the development of the OTC Pharmaceuticals market in Ireland.

The country has a stable economy and a high standard of living, which allows consumers to allocate a portion of their disposable income towards healthcare and wellness products. Additionally, the aging population in Ireland is driving demand for OTC pharmaceuticals, as older individuals often have a greater need for self-care and preventive healthcare. Overall, the OTC Pharmaceuticals market in Ireland is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As consumers in Ireland increasingly prioritize self-care and preventive healthcare, the demand for OTC pharmaceuticals is expected to continue to grow 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.