OTC Pharmaceuticals - Zimbabwe | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$114.40m in 2024. The market is expected to grow annually by -1.50% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$25.73m 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$6.72 are generated in 2024.
In the OTC Pharmaceuticals market, 0.4% 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 Zimbabwe is experiencing significant growth and development.

Customer preferences: Customers in Zimbabwe are increasingly turning to over-the-counter (OTC) pharmaceuticals for their healthcare needs. This is driven by a number of factors, including increasing awareness and knowledge about self-medication, convenience, and affordability. Consumers are becoming more proactive in managing their own health and are seeking accessible and cost-effective solutions for common ailments. As a result, there is a growing demand for OTC pharmaceuticals in Zimbabwe.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Zimbabwe is the expansion of product offerings. Pharmaceutical companies are introducing a wide range of OTC products to cater to the diverse needs of consumers. This includes medications for pain relief, cough and cold, allergies, and gastrointestinal issues, among others. The availability of a variety of OTC options allows consumers to choose the most suitable product for their specific health concerns. Another trend in the market is the increasing popularity of natural and herbal remedies. Zimbabwe has a rich tradition of using traditional herbal medicines for healing purposes, and this trend is now being reflected in the OTC Pharmaceuticals market. Consumers are seeking natural alternatives to conventional medications, driven by a growing interest in holistic health and wellness. As a result, pharmaceutical companies are incorporating natural and herbal ingredients into their OTC products to meet this demand.

Local special circumstances: Zimbabwe has a unique healthcare landscape that influences the OTC Pharmaceuticals market. The country has a high burden of communicable diseases, such as HIV/AIDS and malaria, as well as non-communicable diseases, such as diabetes and hypertension. This creates a significant demand for OTC pharmaceuticals to manage these conditions. Additionally, the limited availability and affordability of prescription medications in Zimbabwe further drives the demand for OTC alternatives.

Underlying macroeconomic factors: The development of the OTC Pharmaceuticals market in Zimbabwe is also influenced by underlying macroeconomic factors. The country has experienced economic challenges in recent years, including high inflation and currency instability. This has led to a decline in disposable income and reduced access to healthcare services. As a result, consumers are increasingly relying on OTC pharmaceuticals as a more affordable option for their healthcare needs. The affordability and accessibility of OTC products make them a viable alternative to prescription medications, especially for those who are unable to afford or access prescription drugs. In conclusion, the OTC Pharmaceuticals market in Zimbabwe is growing and evolving due to changing customer preferences, including the demand for a wide range of products and natural remedies. The local special circumstances, such as the high burden of diseases and limited access to prescription medications, further contribute to the development of the market. Additionally, underlying macroeconomic factors, such as economic challenges and reduced access to healthcare services, drive the demand for OTC pharmaceuticals as a more affordable option.

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 global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.