OTC Pharmaceuticals - New Zealand

Revenue in the OTC Pharmaceuticals market amounts to US$447.20m in 2024. The market is expected to grow annually by 4.51% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$158.90m 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$84.86 are generated in 2024.
In the OTC Pharmaceuticals market, 16.1% 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 New Zealand has been experiencing steady growth in recent years.

Customer preferences: Customers in New Zealand have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience and accessibility of these products. OTC medications can be purchased without a prescription, allowing customers to easily obtain relief for common ailments such as colds, allergies, and pain. Additionally, the increasing awareness and emphasis on self-care and wellness have also contributed to the popularity of OTC pharmaceuticals in New Zealand.

Trends in the market: One notable trend in the OTC Pharmaceuticals market in New Zealand is the growing demand for natural and herbal remedies. Customers are increasingly seeking products that are perceived to be more natural and have fewer side effects. This trend aligns with the global shift towards more holistic and alternative approaches to healthcare. As a result, manufacturers and retailers in New Zealand are expanding their product offerings to include a wider range of natural and herbal remedies. Another trend in the market is the rise of online sales channels. With the increasing popularity of e-commerce, more customers are choosing to purchase OTC pharmaceutical products online. This offers convenience and the ability to compare prices and read customer reviews before making a purchase. Online sales platforms also provide a wider selection of products, allowing customers to find specific brands or variants that may not be available in physical stores.

Local special circumstances: New Zealand has a unique healthcare system that influences the OTC Pharmaceuticals market. The country has a universal healthcare system, which provides free or heavily subsidized prescription medications to its citizens. This may impact the demand for OTC pharmaceuticals, as some customers may opt to visit a doctor and obtain a prescription rather than purchasing OTC products. However, there are still many instances where customers prefer the convenience and immediate relief provided by OTC medications.

Underlying macroeconomic factors: New Zealand has experienced a stable economy in recent years, with steady GDP growth and low unemployment rates. This has contributed to increased consumer spending power and a higher demand for healthcare products, including OTC pharmaceuticals. Additionally, the aging population in New Zealand has also played a role in driving the growth of the OTC Pharmaceuticals market. As the population ages, there is a greater need for healthcare products to manage chronic conditions and age-related ailments. In conclusion, the OTC Pharmaceuticals market in New Zealand is experiencing growth due to customer preferences for convenience and accessibility, as well as the increasing demand for natural and herbal remedies. Online sales channels have also become popular, providing customers with a wider selection and the ability to compare prices. The unique healthcare system in New Zealand, along with the country's stable economy and aging population, are underlying macroeconomic factors that contribute to the growth of the market.

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.