OTC Pharmaceuticals - CIS

The OTC Pharmaceuticals market in the CIS region is projected to generate revenue of US$7.65k by 2024.
It is anticipated to grow at an annual rate of 4.07% (CAGR 2024-2029).
Among the various markets, Other OTC Pharmaceuticals dominates with a market volume of US$2.07k in 2024.
When compared to other countries worldwide, the in the United States leads in terms of revenue generation, with a total of US$41,240.00 in 2024.
In relation to the population, per person revenues amount to US$31.51 in 2024.
Furthermore, online sales are estimated to contribute 9.54% of the total revenue in the OTC Pharmaceuticals market by 2024.
This indicates a growing trend towards online purchasing within the industry.
Despite a growing demand for OTC Pharmaceuticals in the CIS market, strict regulations and limited access to healthcare hinder market growth.

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 CIS is experiencing significant growth and development due to several factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the market.Customer preferences play a crucial role in driving the growth of the OTC Pharmaceuticals market in CIS. Consumers in the region are increasingly seeking self-care solutions for minor health issues. They prefer the convenience and accessibility of over-the-counter medications, which can be purchased without a prescription. Additionally, consumers are becoming more health-conscious and proactive in managing their well-being, leading to a higher demand for OTC pharmaceutical products.Trends in the market also contribute to the growth of the OTC Pharmaceuticals market in CIS. The market is witnessing a shift towards natural and herbal remedies, as consumers are becoming more inclined towards products with fewer side effects. This trend is driven by the increasing awareness of the potential risks associated with certain prescription medications. As a result, manufacturers are introducing a wide range of natural and herbal OTC products to cater to this growing demand.Local special circumstances further fuel the development of the OTC Pharmaceuticals market in CIS. The region has a large population, which provides a significant customer base for pharmaceutical companies. Moreover, the healthcare infrastructure in CIS countries is still developing, with limited access to healthcare professionals. This creates a greater reliance on self-medication and OTC products for minor ailments.Underlying macroeconomic factors also contribute to the growth of the OTC Pharmaceuticals market in CIS. The region is experiencing economic growth, leading to an increase in disposable income. As a result, consumers have more purchasing power to spend on healthcare products, including OTC pharmaceuticals. Furthermore, the aging population in CIS countries is driving the demand for OTC medications, as older individuals are more likely to require self-care solutions for common health issues.In conclusion, the OTC Pharmaceuticals market in CIS is developing rapidly due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As consumers increasingly seek self-care solutions, the demand for OTC pharmaceutical products continues to rise. The market is also witnessing a shift towards natural and herbal remedies, driven by consumer awareness and concerns about the side effects of prescription medications. The large population, limited healthcare infrastructure, economic growth, and aging population in CIS countries further contribute to the growth 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.