OTC Pharmaceuticals - Norway

Norway

Revenue in the OTC Pharmaceuticals market amounts to US$229.20m in 2024. The market is expected to grow annually by 1.47% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$56.19m 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$41.57 are generated in 2024.
In the OTC Pharmaceuticals market, 21.1% 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 Norway has been experiencing steady growth in recent years, driven by customer preferences for self-medication, an increasing aging population, and a growing focus on preventive healthcare. Customer preferences in Norway have shifted towards self-medication, with consumers increasingly seeking over-the-counter (OTC) pharmaceutical products to treat common ailments.

This trend is driven by a desire for convenience and cost-effectiveness, as OTC products are readily available without a prescription and are often less expensive than prescription medications. Additionally, consumers are becoming more health-conscious and are taking a proactive approach to managing their own health. They are seeking OTC products for preventive purposes, such as vitamins and supplements, to support their overall well-being.

The OTC Pharmaceuticals market in Norway is also benefiting from the country's aging population. As the population ages, there is a higher demand for healthcare products and services, including OTC medications. Older adults often require medications for chronic conditions, such as arthritis or high blood pressure, which can be managed with OTC products.

The aging population in Norway is expected to continue growing, further driving the demand for OTC pharmaceuticals. Another factor contributing to the growth of the OTC Pharmaceuticals market in Norway is the country's focus on preventive healthcare. Norway has a strong emphasis on promoting healthy lifestyles and preventing illness through education and awareness campaigns.

This has led to an increased interest in preventive healthcare products, such as OTC vitamins, supplements, and herbal remedies. Consumers are actively seeking these products to support their overall health and well-being, creating a growing market for OTC pharmaceuticals. In addition to customer preferences, there are also local special circumstances that have contributed to the development of the OTC Pharmaceuticals market in Norway.

The Norwegian healthcare system is characterized by a high level of trust in the quality and safety of OTC products. The regulatory framework ensures that OTC medications meet strict standards for efficacy and safety, providing consumers with confidence in the products they purchase. This trust in the healthcare system and OTC products has further fueled the growth of the market.

Underlying macroeconomic factors, such as a stable economy and high disposable income levels, have also played a role in the development of the OTC Pharmaceuticals market in Norway. The country has a strong economy with high levels of disposable income, allowing consumers to afford OTC medications and healthcare products. This has created a favorable environment for the growth of the market.

Overall, the OTC Pharmaceuticals market in Norway is experiencing growth due to customer preferences for self-medication, an aging population, a focus on preventive healthcare, local special circumstances, and underlying macroeconomic factors. These factors are expected to continue driving the growth of the market in the coming years.

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.