OTC Pharmaceuticals - Australia & Oceania

Australia & Oceania

In 2024, the revenue in the OTC Pharmaceuticals market in Australia & Oceania amounts to US$5.08bn.
It is projected to grow annually by 5.47% (CAGR 2024-2029).
The market's largest market is Vitamins & Minerals, with a market volume of US$1.56bn in 2024.
When compared globally, the in the United States generates the highest revenue, reaching US$41,240.00m in 2024.
In terms of per capita revenue, in Australia & Oceania generates US$117.00 per person in 2024.
Furthermore, in the OTC Pharmaceuticals market, online sales are expected to contribute 22.31% of the total revenue by 2024.
Australia & Oceania is experiencing a growing demand for natural and herbal OTC pharmaceuticals as consumers prioritize wellness and sustainability.

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 Australia & Oceania is experiencing steady growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in the OTC Pharmaceuticals market in Australia & Oceania are driven by factors such as convenience, affordability, and self-care. Consumers in this region often prefer over-the-counter medications for minor ailments and common health issues, as they provide a quick and easy solution without the need for a prescription or a visit to a healthcare professional. Additionally, OTC medications are often more affordable compared to prescription drugs, making them accessible to a wider range of consumers. The self-care trend is also gaining popularity, as individuals take a proactive approach to managing their health and well-being.Trends in the OTC Pharmaceuticals market in Australia & Oceania include the increasing demand for natural and herbal remedies, the rise of e-commerce platforms for purchasing OTC medications, and the growing focus on preventive healthcare. Consumers in this region are becoming more conscious of the ingredients and potential side effects of pharmaceutical products, leading to a higher demand for natural and herbal remedies. This trend aligns with the overall shift towards more sustainable and eco-friendly products. The rise of e-commerce platforms has made it easier for consumers to purchase OTC medications online, providing convenience and accessibility. Furthermore, there is a growing emphasis on preventive healthcare, with consumers seeking OTC medications and supplements to support their overall well-being and prevent health issues before they arise.Local special circumstances in the OTC Pharmaceuticals market in Australia & Oceania include regulatory frameworks, cultural beliefs, and healthcare infrastructure. Each country within the region has its own regulatory frameworks governing the sale and distribution of OTC medications. These regulations ensure the safety and quality of products available in the market. Cultural beliefs and practices also play a role in shaping customer preferences and choices in OTC medications. For example, traditional remedies and practices may be preferred in certain communities. The healthcare infrastructure in different countries within the region also influences the availability and accessibility of OTC medications.Underlying macroeconomic factors impacting the OTC Pharmaceuticals market in Australia & Oceania include population growth, income levels, and healthcare expenditure. The region has experienced population growth, leading to a larger consumer base for OTC medications. Rising income levels have also contributed to increased affordability and willingness to spend on healthcare products. Additionally, healthcare expenditure has been increasing, reflecting a greater focus on healthcare and wellness in the region.Overall, the OTC Pharmaceuticals market in Australia & Oceania is driven by customer preferences for convenience, affordability, and self-care. Market trends such as the demand for natural and herbal remedies, the rise of e-commerce platforms, and the focus on preventive healthcare are shaping the industry. Local special circumstances, including regulatory frameworks, cultural beliefs, and healthcare infrastructure, further influence the market. Underlying macroeconomic factors such as population growth, income levels, and healthcare expenditure contribute to the market's development and growth.

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.