OTC Pharmaceuticals - Kuwait

Kuwait

Revenue in the OTC Pharmaceuticals market amounts to US$424.00m in 2024. The market is expected to grow annually by 3.31% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$98.76m 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$97.48 are generated in 2024.
In the OTC Pharmaceuticals market, 0.1% 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 Kuwait has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences in Kuwait have shifted towards self-medication and convenience. Consumers are increasingly opting for over-the-counter (OTC) medications for common ailments and minor health issues. This preference can be attributed to the ease of access and affordability of OTC products compared to prescription medications.

Additionally, consumers value the convenience of being able to purchase these medications without a doctor's prescription, saving time and effort. Trends in the OTC Pharmaceuticals market in Kuwait reflect the global shift towards a more holistic approach to healthcare. There is a growing demand for natural and herbal remedies, as well as vitamins and dietary supplements.

This trend can be attributed to the increasing awareness and interest in preventive healthcare and wellness. Consumers are seeking products that promote overall health and well-being, rather than just treating specific symptoms. Local special circumstances in Kuwait have also influenced the development of the OTC Pharmaceuticals market.

The country has a high prevalence of lifestyle-related diseases such as diabetes and obesity. As a result, there is a strong demand for OTC medications and supplements that help manage these conditions. Furthermore, Kuwait has a young population, with a significant proportion of the population under the age of 30.

This demographic is more inclined towards self-care and proactive health management, further driving the demand for OTC products. Underlying macroeconomic factors have also played a role in the growth of the OTC Pharmaceuticals market in Kuwait. The country has a high per capita income and a strong healthcare infrastructure, which enables consumers to afford and access OTC medications easily.

Additionally, the government has implemented regulations to ensure the safety and quality of OTC products, instilling confidence in consumers and further driving market growth. In conclusion, the OTC Pharmaceuticals market in Kuwait is developing due to customer preferences for self-medication and convenience, trends towards holistic healthcare, local special circumstances such as lifestyle-related diseases and a young population, and underlying macroeconomic factors such as high income levels and a strong healthcare infrastructure. This market is expected to continue growing as consumers prioritize preventive healthcare and seek accessible and affordable solutions for their health needs.

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.