OTC Pharmaceuticals - South Africa

South Africa

Revenue in the OTC Pharmaceuticals market amounts to US$965.60m in 2024. The market is expected to grow annually by 4.06% (CAGR 2024-2029).
The market's largest segment is the segment Cold & Cough Remedies with a market volume of US$220.30m 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$15.82 are generated in 2024.
In the OTC Pharmaceuticals market, 21.4% 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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Market

Region

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Analyst Opinion

The OTC Pharmaceuticals market in South Africa is experiencing significant growth due to several key factors.

Customer preferences: South African consumers are increasingly turning to over-the-counter (OTC) pharmaceuticals for their healthcare needs. This can be attributed to several factors, including the convenience and accessibility of OTC products. With busy lifestyles and limited time, consumers prefer the ease of purchasing OTC medications without a prescription. Additionally, the affordability of these products compared to prescription medications is another driving factor for customer preferences.

Trends in the market: One of the notable trends in the OTC Pharmaceuticals market in South Africa is the increasing demand for natural and herbal remedies. Consumers are becoming more health-conscious and seeking alternative treatments that are perceived to be safer and have fewer side effects. As a result, there has been a surge in the availability and sales of herbal OTC products in the market. Another trend in the market is the growing popularity of online pharmacies. With the rise of e-commerce, consumers are increasingly turning to online platforms to purchase OTC medications. This trend is driven by the convenience of online shopping and the ability to compare prices and read customer reviews before making a purchase. Online pharmacies also offer a wider range of products that may not be available in physical stores, further driving their popularity.

Local special circumstances: South Africa has a well-established healthcare system, with a mix of public and private healthcare providers. However, there are certain challenges that contribute to the growth of the OTC Pharmaceuticals market. One of these challenges is the limited access to healthcare services in rural areas. Many people in these areas rely on OTC medications for self-treatment due to the lack of healthcare facilities and healthcare professionals. This has created a significant market for OTC products in these regions.

Underlying macroeconomic factors: The South African economy has been experiencing slow growth in recent years, which has had an impact on the healthcare sector. As a result, there has been a shift towards self-medication and the use of OTC pharmaceuticals as a cost-saving measure. With rising healthcare costs and limited access to healthcare services, consumers are opting for OTC medications as a more affordable alternative. This trend is expected to continue as economic conditions remain challenging. In conclusion, the OTC Pharmaceuticals market in South Africa is witnessing significant growth due to customer preferences for convenience and affordability. The increasing demand for natural and herbal remedies, as well as the rise of online pharmacies, are key trends in the market. Local special circumstances, such as limited access to healthcare services in rural areas, further contribute to the growth of the market. The underlying macroeconomic factors, including slow economic growth and rising healthcare costs, are also driving the demand for OTC pharmaceuticals.

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.