OTC Pharmaceuticals - Malta | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$100.10m in 2024. The market is expected to grow annually by 3.76% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$51.59m 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$186.50 are generated in 2024.
In the OTC Pharmaceuticals market, 0.5% 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 Malta is experiencing steady growth due to various factors. Customer preferences in Malta play a significant role in the development of the OTC Pharmaceuticals market.

Maltese consumers tend to prioritize convenience and accessibility when it comes to healthcare products. They prefer over-the-counter medications that are easily available without a prescription, allowing them to self-diagnose and self-medicate for common ailments. This preference for convenience has led to an increase in the demand for OTC Pharmaceuticals in Malta.

Trends in the market indicate that there is a growing awareness among Maltese consumers about the benefits of self-care and self-medication. With the availability of a wide range of OTC Pharmaceuticals, consumers are becoming more confident in managing their own health and well-being. This trend is further supported by the increasing number of pharmacies and retail outlets that stock a variety of OTC medications, making them easily accessible to the general public.

Local special circumstances also contribute to the development of the OTC Pharmaceuticals market in Malta. The country has a well-established healthcare system that provides quality healthcare services to its citizens. However, the high cost of prescription medications and the long waiting times to see a doctor have led many Maltese consumers to seek alternative solutions.

OTC Pharmaceuticals offer a cost-effective and time-saving option for managing minor health issues, making them a popular choice among the population. Underlying macroeconomic factors also play a role in the growth of the OTC Pharmaceuticals market in Malta. The country has a stable economy with a high standard of living, allowing consumers to afford healthcare products and services.

Additionally, the government has implemented policies to promote the use of OTC medications as a means of reducing the burden on the healthcare system. This has further fueled the demand for OTC Pharmaceuticals in the country. In conclusion, the OTC Pharmaceuticals market in Malta is developing due to customer preferences for convenience, the growing trend of self-medication, local special circumstances such as the high cost of prescription medications, and underlying macroeconomic factors.

As the market continues to evolve, it is expected to witness further growth 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.