OTC Pharmaceuticals - Bahrain

Bahrain

In Bahrain, the revenue generated in the OTC Pharmaceuticals market is estimated to be US$126.50m in 2024.
It is projected to experience an annual growth rate of 4.88% (CAGR 2024-2029).
The largest market within this market is Other OTC Pharmaceuticals, with a market volume of US$41.84m in 2024.
When compared globally, the in the United States stands as the top revenue generator, with US$41,240.00m in 2024.
In terms of per capita figures, each person in Bahrain is expected to contribute US$84.41 in revenue in the year 2024.
Additionally, it is predicted that 6.81% of the total revenue in the OTC Pharmaceuticals market will be generated through online sales by 2024.
Bahrain's OTC Pharmaceuticals market is witnessing a growing demand for herbal and natural remedies among health-conscious consumers.

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.
For more information on the data displayed, use the info button next to the boxes.

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Analyst Opinion

The OTC Pharmaceuticals market in Bahrain is experiencing steady growth and development.

Customer preferences: Customers in Bahrain have a strong preference for over-the-counter (OTC) pharmaceutical products due to their convenience and accessibility. OTC medicines allow individuals to self-diagnose and treat minor ailments without the need for a prescription or a visit to a healthcare professional. This convenience factor is particularly important in Bahrain, where the healthcare system is well-developed but can be time-consuming and expensive for minor health issues. Additionally, OTC medicines are often more affordable than prescription drugs, making them an attractive option for cost-conscious consumers.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Bahrain is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of synthetic drugs and are seeking alternative options. This trend aligns with the global shift towards natural and holistic healthcare solutions. As a result, there has been a rise in the availability and popularity of OTC herbal supplements and remedies in Bahrain.Another trend in the market is the growing focus on preventive healthcare. Consumers are increasingly taking a proactive approach to their health and are seeking OTC products that can help them maintain and improve their well-being. This includes a wide range of products such as vitamins, dietary supplements, and immune boosters. The COVID-19 pandemic has further accelerated this trend, with individuals looking for ways to strengthen their immune systems and protect themselves from illness.

Local special circumstances: Bahrain has a small population compared to other countries in the region, which presents both challenges and opportunities for the OTC Pharmaceuticals market. On one hand, the smaller market size limits the potential customer base. However, it also allows for more targeted marketing and product development strategies. Companies operating in Bahrain can focus on understanding the specific needs and preferences of the local population and tailor their offerings accordingly.Bahrain is also known for its strong regulatory framework and high standards for product safety and quality. This creates a favorable environment for OTC pharmaceutical companies, as consumers can trust that the products they are purchasing are safe and effective. The government's commitment to ensuring the safety and efficacy of OTC medicines further boosts consumer confidence and encourages market growth.

Underlying macroeconomic factors: Bahrain has a stable and growing economy, which provides a favorable environment for the OTC Pharmaceuticals market. The country's GDP per capita is relatively high, indicating a higher disposable income among consumers. This allows individuals to spend more on healthcare products, including OTC medicines.Furthermore, Bahrain's strategic location in the Gulf region makes it an attractive market for international pharmaceutical companies. The country serves as a hub for trade and commerce, attracting foreign investment and fostering economic growth. This, in turn, contributes to the development of the OTC Pharmaceuticals market as companies expand their operations and introduce new products to cater to the growing demand.In conclusion, the OTC Pharmaceuticals market in Bahrain is experiencing growth and development driven by customer preferences for convenience, natural remedies, and preventive healthcare. The local special circumstances, including a small population and a strong regulatory framework, further support market growth. The underlying macroeconomic factors, such as a stable economy and Bahrain's strategic location, also contribute to the expansion of the market.

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.