OTC Pharmaceuticals - Southern Asia

Southern Asia

Revenue in the OTC Pharmaceuticals market amounts to US$10.10bn in 2024. The market is expected to grow annually by 8.49% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$3.43bn 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$5.27 are generated in 2024.
In the OTC Pharmaceuticals market, 5.3% 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 Asia is experiencing significant growth and development due to various factors. Customer preferences in the OTC Pharmaceuticals market in Southern Asia are influenced by several factors.

Firstly, there is a growing demand for self-medication and convenience among consumers. This is driven by busy lifestyles, increased awareness of health and wellness, and the desire for quick and easy access to medication. Consumers in Southern Asia are increasingly seeking over-the-counter products that can address their common health issues without the need for a prescription or a visit to a healthcare professional.

In addition, affordability is a key consideration for customers in this region. OTC pharmaceuticals are often more cost-effective compared to prescription drugs, making them an attractive option for consumers who are looking for affordable healthcare solutions. The availability of a wide range of OTC products at different price points further caters to the diverse needs and budgets of consumers in Southern Asia.

Trends in the OTC Pharmaceuticals market in Southern Asia reflect the evolving healthcare landscape in the region. One notable trend is the increasing adoption of e-commerce platforms for the purchase of OTC products. The rise of online shopping has made it easier for consumers to access a wide range of OTC pharmaceuticals from the comfort of their homes.

This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping and a preference for contactless transactions. Another trend in the market is the growing focus on natural and herbal remedies. Consumers in Southern Asia have a long-standing tradition of using traditional medicines and herbal remedies for various health conditions.

This cultural preference for natural and holistic approaches to healthcare has translated into a demand for OTC products that are derived from natural ingredients and have minimal side effects. As a result, manufacturers are increasingly introducing herbal and natural OTC pharmaceuticals to cater to this specific customer preference. Local special circumstances also play a role in shaping the OTC Pharmaceuticals market in Southern Asia.

Regulatory frameworks vary across countries in the region, which can impact the availability and accessibility of certain OTC products. Some countries have stricter regulations on the sale and distribution of OTC pharmaceuticals, while others have more lenient regulations. These differences can influence the product offerings and marketing strategies of manufacturers operating in the region.

Underlying macroeconomic factors such as population growth, urbanization, and increasing disposable incomes are driving the growth of the OTC Pharmaceuticals market in Southern Asia. As the population in the region continues to grow and urbanize, there is a greater need for accessible and affordable healthcare solutions. Rising disposable incomes also enable consumers to spend more on healthcare, including OTC pharmaceuticals.

These macroeconomic factors create a favorable environment for the growth and development of the OTC Pharmaceuticals market in Southern Asia.

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.