OTC Pharmaceuticals - Southern Africa

Southern Africa

Revenue in the OTC Pharmaceuticals market amounts to US$1,125.00m in 2024. The market is expected to grow annually by 3.65% (CAGR 2024-2029).
The market's largest segment is the segment Cold & Cough Remedies with a market volume of US$233.30m 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$16.06 are generated in 2024.
In the OTC Pharmaceuticals market, 18.6% 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

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in Southern Africa is experiencing significant growth and development. Customer preferences in the region are shifting towards self-medication and a preference for over-the-counter (OTC) medications.

This is driven by several factors, including increased awareness and education about health and wellness, a desire for convenience, and the rising cost of healthcare services. Consumers are increasingly seeking accessible and affordable healthcare solutions, and OTC medications provide a convenient and cost-effective option. Trends in the market indicate a growing demand for OTC medications in Southern Africa.

This is driven by the increasing prevalence of chronic diseases, such as diabetes and hypertension, which require ongoing management and treatment. OTC medications for these conditions, such as antihypertensives and antidiabetic drugs, are in high demand. Additionally, there is a growing trend towards preventive healthcare, with consumers seeking OTC medications and supplements to support their overall health and wellbeing.

Local special circumstances in Southern Africa also contribute to the development of the OTC Pharmaceuticals market. Limited access to healthcare facilities and healthcare professionals in certain areas creates a need for self-medication options. Furthermore, cultural beliefs and practices in the region often prioritize traditional medicine and natural remedies, which has led to the development of a market for herbal and alternative OTC medications.

Underlying macroeconomic factors also play a role in the growth of the OTC Pharmaceuticals market in Southern Africa. Economic development and rising disposable incomes have increased the affordability of OTC medications for a larger portion of the population. Additionally, urbanization and changing lifestyles have led to an increase in non-communicable diseases, further driving the demand for OTC medications.

In conclusion, the OTC Pharmaceuticals market in Southern Africa is developing due to changing customer preferences, increasing demand for self-medication, and the prevalence of chronic diseases. Local special circumstances, such as limited access to healthcare facilities and cultural preferences for traditional medicine, also contribute to the market's growth. Underlying macroeconomic factors, including economic development and rising disposable incomes, further support the development of the OTC Pharmaceuticals market in Southern Africa.

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.