OTC Pharmaceuticals - Romania | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$1.11bn in 2024. The market is expected to grow annually by 6.23% (CAGR 2024-2029).
The market's largest segment is the segment Cold & Cough Remedies with a market volume of US$268.70m 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$56.47 are generated in 2024.
In the OTC Pharmaceuticals market, 11.8% 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 Romania is witnessing significant growth and development due to various factors.

Customer preferences: Customers in Romania are increasingly opting for over-the-counter (OTC) pharmaceuticals due to their convenience and accessibility. OTC medicines provide consumers with the ability to self-diagnose and self-treat common ailments without the need for a prescription. This trend is driven by the growing awareness among consumers about the benefits of OTC drugs, as well as the increasing availability of these products in pharmacies and retail outlets across the country.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Romania is the increasing demand for preventive healthcare products. Consumers are becoming more proactive in managing their health and are seeking products that can help prevent illnesses and maintain overall well-being. This has led to a rise in the sales of vitamins, dietary supplements, and other preventive healthcare products in the OTC segment. Another trend in the market is the growing popularity of natural and herbal remedies. Consumers are increasingly turning to alternative therapies and natural remedies for various health conditions. This trend is driven by the perception that natural products are safer and have fewer side effects compared to conventional pharmaceuticals. As a result, there is a growing demand for herbal and natural OTC products in Romania.

Local special circumstances: Romania has a relatively large elderly population, which is driving the demand for OTC pharmaceuticals. As people age, they are more likely to experience chronic conditions and require medication to manage their health. The elderly population in Romania is growing, and this demographic trend is expected to continue in the coming years. As a result, there is a significant demand for OTC drugs that cater to the specific needs of the elderly population, such as pain relievers, digestive aids, and cardiovascular health products.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Romania is also influenced by macroeconomic factors such as rising disposable incomes and increasing healthcare expenditure. As the economy of Romania continues to grow, consumers have more purchasing power, which allows them to spend more on healthcare products. This has led to an increase in the demand for OTC pharmaceuticals, as consumers are willing to spend on self-care and preventive healthcare. Furthermore, the government in Romania has implemented policies to promote the use of OTC drugs as a cost-effective solution to healthcare. This has resulted in increased access to OTC medicines and has further fueled the growth of the market. In conclusion, the OTC Pharmaceuticals market in Romania is experiencing growth and development due to factors such as customer preferences for convenience and accessibility, the demand for preventive healthcare products, the popularity of natural and herbal remedies, the presence of a large elderly population, rising disposable incomes, increasing healthcare expenditure, and government policies promoting the use of OTC drugs. These trends and circumstances are expected to continue driving the growth of the market in the coming years.

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.