OTC Pharmaceuticals - Portugal | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$493.30m in 2024. The market is expected to grow annually by 2.63% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$188.20m 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$48.26 are generated in 2024.
In the OTC Pharmaceuticals market, 17.4% 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 Portugal has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences play a crucial role in the growth of the OTC Pharmaceuticals market in Portugal. Consumers are increasingly seeking convenience and cost-effectiveness when it comes to healthcare. OTC medications provide an accessible and affordable option for minor ailments and self-care.

The ease of purchase without a prescription and the ability to compare different products have made OTC pharmaceuticals popular among Portuguese consumers. Several trends have emerged in the OTC Pharmaceuticals market in Portugal. Firstly, there has been a growing demand for natural and herbal remedies.

Consumers are becoming more conscious of their health and are seeking alternatives to traditional pharmaceuticals. This trend aligns with the global shift towards natural and organic products. Another trend in the market is the increasing availability of OTC medications in supermarkets and online platforms.

This has made it even more convenient for consumers to purchase these products. The rise of e-commerce has also contributed to the growth of the OTC Pharmaceuticals market, as online platforms offer a wide range of products and competitive prices. Local special circumstances in Portugal have also influenced the development of the OTC Pharmaceuticals market.

The country has a well-established healthcare system that provides universal coverage, but there are limitations in terms of accessibility and waiting times. As a result, consumers are more inclined to self-diagnose and self-medicate for minor ailments. The availability of OTC medications allows them to address their healthcare needs promptly.

Underlying macroeconomic factors have also played a role in the growth of the OTC Pharmaceuticals market in Portugal. The country has experienced economic stability and an increase in disposable income, which has led to higher healthcare expenditures. Additionally, an aging population and the prevalence of chronic diseases have driven the demand for OTC medications for symptom relief and management.

In conclusion, the OTC Pharmaceuticals market in Portugal has witnessed significant growth due to customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The convenience, affordability, and accessibility of OTC medications have made them a popular choice among Portuguese consumers. As the market continues to evolve, it is important for pharmaceutical companies to adapt to these trends and cater to the changing needs of consumers.

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.