OTC Pharmaceuticals - Algeria

Algeria

Revenue in the OTC Pharmaceuticals market in Algeria amounted to US$704.50m in 2024.
It is expected that the market will experience an annual growth rate of 2.88% (CAGR 2024-2029).
The largest market within the OTC Pharmaceuticals market in Algeria is Other OTC Pharmaceuticals, with a market volume of US$268.10m in 2024.
In comparison to other countries, the in the United States generates the most revenue in this market, reaching US$41,240.00m in 2024.
When considering the total population, per person revenues in Algeria amount to US$15.22 in 2024.
It is projected that by 2024, 2.86% of the total revenue in the OTC Pharmaceuticals market in Algeria will be generated through online sales.
Algeria has seen a growing demand for OTC pharmaceuticals as consumers seek affordable and accessible self-care options.

Key regions: United States, China, Germany, Japan, 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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Analyst Opinion

The OTC Pharmaceuticals market in Algeria is experiencing steady growth due to several factors. Customer preferences for self-medication, increased awareness of health and wellness, and the convenience of over-the-counter products are driving the demand for OTC pharmaceuticals in the country.

Customer preferences: Algerian consumers are increasingly opting for self-medication, as they seek immediate relief from common ailments without the need for a doctor's prescription. This trend is driven by the convenience and accessibility of OTC pharmaceuticals, which can be purchased without the hassle of visiting a healthcare professional. Additionally, consumers are becoming more proactive in managing their health and wellness, leading to an increased demand for OTC products that cater to preventive care and minor health issues.

Trends in the market: The OTC Pharmaceuticals market in Algeria is witnessing a shift towards natural and herbal remedies. Consumers are becoming more conscious of the ingredients used in products and are opting for natural alternatives to traditional pharmaceuticals. This trend is driven by the perception that natural remedies are safer and have fewer side effects. As a result, companies are introducing a wide range of herbal and natural OTC products to cater to this growing demand.Another trend in the market is the increasing availability of OTC pharmaceuticals through e-commerce platforms. Online shopping has gained popularity in Algeria, and consumers are now able to conveniently purchase OTC products from the comfort of their homes. This trend is further fueled by the COVID-19 pandemic, which has accelerated the adoption of online shopping across various sectors.

Local special circumstances: Algeria has a young population, with a significant proportion of the population under the age of 30. This demographic factor plays a role in shaping the OTC Pharmaceuticals market, as younger consumers are more likely to embrace self-medication and are more open to trying new products. Furthermore, the government has implemented policies to promote the local production of pharmaceutical products, which has led to an increase in domestic manufacturing and availability of locally produced OTC pharmaceuticals.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Algeria is influenced by the country's overall economic conditions. Algeria has a growing middle class with increasing disposable income, which allows consumers to spend more on healthcare products, including OTC pharmaceuticals. Additionally, the government's focus on healthcare infrastructure development and improving access to healthcare services has created a favorable environment for the growth of the OTC Pharmaceuticals market.In conclusion, the OTC Pharmaceuticals market in Algeria is witnessing steady growth due to customer preferences for self-medication, the increasing popularity of natural remedies, the convenience of online shopping, and the country's favorable macroeconomic conditions. As consumers continue to seek accessible and affordable healthcare solutions, the demand for OTC pharmaceuticals is expected to further increase in Algeria.

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.