OTC Pharmaceuticals - Oman | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$288.40m in 2024. The market is expected to grow annually by 4.27% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$82.26m 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$61.19 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 Oman has been experiencing steady growth in recent years.

Customer preferences: Customers in Oman 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 OTC products compared to prescription medications. Customers appreciate the ability to purchase these products without needing to visit a doctor or obtain a prescription, which saves them time and money. Additionally, the increasing awareness and education about self-care and self-medication have contributed to the growing demand for OTC pharmaceuticals in Oman.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Oman is the rising demand for preventive healthcare products. Customers are becoming more proactive in taking care of their health and are seeking products that can help prevent illnesses and maintain overall well-being. This trend is driving the sales of vitamins, minerals, and dietary supplements in the market. Additionally, there is a growing demand for OTC pain relief medications, cough and cold remedies, and skincare products. Another trend in the market is the increasing popularity of natural and herbal OTC products. Customers are becoming more conscious of the ingredients used in the products they consume and are opting for natural alternatives. This trend is particularly evident in the skincare and personal care segment, where customers are seeking products that are free from harsh chemicals and artificial additives.

Local special circumstances: Oman has a relatively young population, with a significant proportion of the population falling within the working-age group. This demographic factor contributes to the growing demand for OTC pharmaceuticals, as younger individuals are more likely to be proactive in managing their health and seeking preventive healthcare products. Additionally, the government of Oman has been actively promoting healthcare initiatives and campaigns to raise awareness about the importance of self-care and self-medication, further driving the demand for OTC pharmaceuticals.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Oman is also influenced by various macroeconomic factors. The country has been witnessing steady economic growth, which has led to an increase in disposable income among the population. This rise in income levels has made healthcare products more affordable and accessible to a larger segment of the population, thereby driving the demand for OTC pharmaceuticals. Furthermore, Oman has a well-developed healthcare infrastructure, with a strong network of pharmacies and retail outlets. This widespread availability of OTC products across the country has contributed to the growth of the market. Additionally, the government of Oman has implemented favorable regulations and policies to promote the OTC Pharmaceuticals market, including the registration and approval of a wide range of OTC products. In conclusion, the OTC Pharmaceuticals market in Oman is experiencing steady growth due to customer preferences for convenience and accessibility, the rising demand for preventive healthcare products, the popularity of natural and herbal products, the young population, and the favorable macroeconomic factors. These factors, combined with the government's initiatives and the well-developed healthcare infrastructure, are driving the growth of the market in Oman.

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 global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.