OTC Pharmaceuticals - Moldova

Moldova

Revenue in the OTC Pharmaceuticals market amounts to US$92.64m in 2024. The market is expected to grow annually by 5.29% (CAGR 2024-2029).
The market's largest segment is the segment Analgesics with a market volume of US$22.67m 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$27.82 are generated in 2024.
In the OTC Pharmaceuticals market, 0.7% 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 Moldova has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the OTC Pharmaceuticals market in Moldova have been shifting towards self-medication and convenience.

With increasing awareness about the benefits of over-the-counter medications, consumers are opting for these products to treat common ailments and minor health issues. The convenience of purchasing OTC medications without a prescription also appeals to customers, as it saves time and eliminates the need for a doctor's visit. Trends in the market indicate a growing demand for OTC Pharmaceuticals in Moldova.

The market has witnessed an expansion in product offerings, with a wide range of OTC medications available for various health conditions. This trend is driven by the increasing prevalence of self-care practices and the availability of generic alternatives to prescription drugs. Additionally, the rise of e-commerce platforms has made it easier for consumers to access and purchase OTC medications online, further fueling market growth.

Local special circumstances in Moldova also contribute to the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system, with a network of pharmacies and drugstores that offer a wide range of OTC medications. The affordability of these products makes them accessible to a large portion of the population.

Furthermore, the government has implemented regulations to ensure the safety and quality of OTC medications, instilling confidence in consumers. Underlying macroeconomic factors play a significant role in the growth of the OTC Pharmaceuticals market in Moldova. The country has experienced stable economic growth in recent years, leading to an increase in disposable income and healthcare spending.

As consumers become more financially empowered, they are willing to invest in their health and well-being, driving the demand for OTC medications. In conclusion, the OTC Pharmaceuticals market in Moldova is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication and convenience, the expansion of product offerings, the accessibility of OTC medications through e-commerce platforms, the well-established healthcare system, and the stable economic growth in the country all contribute to the growth of 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.