OTC Pharmaceuticals - Central & Western Europe

Central & Western Europe

The OTC Pharmaceuticals market in Central & Western Europe is projected to generate a revenue of US$30.94bn in 2024.
This market is expected to experience an annual growth rate of 4.00% (CAGR 2024-2029).
Among the various markets within this market, the Other OTC Pharmaceuticals market holds the largest share, with a market volume of US$9.04bn in 2024.
When compared globally, the in the United States leads in terms of revenue generation, reaching US$41,240.00m in 2024.
In terms of per capita income, the revenue generated per person in Central & Western Europe amounts to US$92.21 in 2024.
Furthermore, it is estimated that online sales will account for 19.11% of the total revenue in the OTC Pharmaceuticals market by 2024.
In Central & Western Europe, Germany is experiencing a rising trend in the demand for natural and herbal OTC pharmaceuticals.

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 Central & Western Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend.Customer preferences in the OTC Pharmaceuticals market in Central & Western Europe are shifting towards self-care and convenience. Consumers are increasingly looking for over-the-counter options for treating common ailments and minor health issues. This preference for self-care is driven by factors such as rising healthcare costs and the desire for more control over one's own health. Additionally, consumers are seeking convenience in their healthcare choices, opting for easily accessible OTC products that can be purchased without a prescription.Trends in the OTC Pharmaceuticals market in Central & Western Europe reflect these customer preferences. There is a growing demand for OTC products that address specific health concerns, such as pain relief, allergies, and digestive issues. As a result, manufacturers are focusing on developing innovative and effective OTC solutions to meet these needs. This includes the introduction of new product formulations, such as fast-acting tablets or easy-to-use topical creams. Additionally, there is a trend towards natural and herbal remedies, as consumers seek more holistic approaches to their health.Local special circumstances also contribute to the development of the OTC Pharmaceuticals market in Central & Western Europe. The region has a well-established healthcare system, with a strong emphasis on preventive care and self-management. This healthcare infrastructure supports the growth of the OTC market, as consumers are encouraged to take responsibility for their own health and seek out appropriate OTC solutions. Furthermore, the region's aging population is driving demand for OTC products that address age-related health concerns, such as joint pain or cognitive decline.Underlying macroeconomic factors are also playing a role in the growth of the OTC Pharmaceuticals market in Central & Western Europe. The region has a stable and prosperous economy, which allows consumers to afford OTC products. Additionally, the region's high level of healthcare expenditure and investment in research and development contribute to the availability of innovative and high-quality OTC products. Furthermore, the region's strong regulatory framework ensures the safety and efficacy of OTC pharmaceuticals, giving consumers confidence in their choices.Overall, the OTC Pharmaceuticals market in Central & Western Europe is developing due to customer preferences for self-care and convenience, trends towards specific health concerns and natural remedies, local special circumstances that support the growth of the OTC market, and underlying macroeconomic factors such as a stable economy and strong healthcare infrastructure.

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.