OTC Pharmaceuticals - Western Asia

Western Asia

Revenue in the OTC Pharmaceuticals market amounts to US$5.72bn in 2024. The market is expected to grow annually by 4.45% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$1.30bn 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$25.71 are generated in 2024.
In the OTC Pharmaceuticals market, 9.7% 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 Western Asia is experiencing significant growth and development due to various factors. Customer preferences in Western Asia are shifting towards self-medication and the use of over-the-counter (OTC) pharmaceuticals.

This is driven by several factors, including the increasing awareness and knowledge about health and wellness, the convenience and accessibility of OTC products, and the rising costs of healthcare services. Consumers in Western Asia are increasingly seeking quick and effective solutions for common health issues, such as cold and flu symptoms, digestive problems, and minor aches and pains. They are also becoming more proactive in managing their own health and are willing to invest in OTC products that can help them maintain their well-being.

One of the key trends in the OTC Pharmaceuticals market in Western Asia is the growing demand for natural and herbal remedies. Consumers in this region have a long history of using traditional medicine and are now embracing the use of natural ingredients in OTC products. They are seeking alternatives to synthetic drugs and are willing to try herbal 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, companies in the OTC Pharmaceuticals market are increasingly focusing on developing and marketing natural and herbal products to cater to this growing demand. Another trend in the market is the increasing popularity of online and e-commerce channels for purchasing OTC pharmaceuticals.

Western Asia has a high internet penetration rate, and consumers are increasingly turning to online platforms to purchase a wide range of products, including OTC medications. Online platforms offer convenience, competitive prices, and a wide selection of products, making them an attractive option for consumers. This trend is further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping due to social distancing measures and lockdowns.

Local special circumstances in Western Asia also contribute to the development of the OTC Pharmaceuticals market. The region has a large population, which provides a significant customer base for OTC products. Additionally, Western Asia has a growing middle class with increasing disposable income, which allows consumers to afford OTC medications.

The region also has a relatively young population, which is more open to trying new products and adopting self-care practices. Underlying macroeconomic factors, such as economic growth, urbanization, and healthcare infrastructure development, also play a role in the growth of the OTC Pharmaceuticals market in Western Asia. As the economies in the region continue to grow, more people have access to healthcare services and are able to afford OTC medications.

Urbanization also leads to lifestyle changes and increased exposure to health risks, driving the demand for OTC products. Furthermore, governments in Western Asia are investing in healthcare infrastructure and promoting self-care practices, which further support the growth of the OTC Pharmaceuticals market. In conclusion, the OTC Pharmaceuticals market in Western Asia is experiencing growth and development driven by customer preferences for self-medication, the demand for natural and herbal remedies, the popularity of online channels, local special circumstances, and underlying macroeconomic factors.

As consumers in the region become more health-conscious and proactive in managing their well-being, the market is expected to continue to expand in the coming years.

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.