OTC Pharmaceuticals - Czechia | Statista Market Forecast

The OTC Pharmaceuticals market in Czechia is projected to generate a revenue of US$884.60m in 2024.
The market is expected to witness an annual growth rate of 4.49% (CAGR 2024-2029).
Among the different segments, Other OTC Pharmaceuticals holds the largest market share with a volume of US$295.80m in 2024.
When compared globally, the United States leads the pack with a revenue of US$41.24bn in the same year.
Considering the population figures, the per capita revenue in Czechia's OTC Pharmaceuticals market is estimated to be US$84.22 in 2024.
Additionally, online sales are predicted to contribute 22.13% of the total revenue by 2024.
OTC Pharmaceuticals market in Czechia is experiencing a surge in demand for natural remedies and herbal supplements.

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.

Natural and synthetic agents
Analgesics (e.g. Asprin, Paracetamol)
Cough & Cold remedies (e.g. Vicks VapoRub)
Vitamins and Minerals
Skin treatment products

Prescription medicines
Homeopathic remedies

The OTC Pharmaceuticals market in Czechia has been experiencing steady growth in recent years, driven by customer preferences for self-medication and convenience, as well as local special circumstances and underlying macroeconomic factors.

Customer preferences: In Czechia, there is a strong preference among consumers for self-medication and over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the ease of access to OTC products, the convenience of purchasing them without a prescription, and the increasing awareness and knowledge about self-care and minor health issues. Consumers are increasingly seeking quick and effective remedies for common ailments such as cold and flu symptoms, pain relief, and digestive problems. They are also more willing to take responsibility for their own health and well-being, and OTC products provide them with the means to do so.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Czechia is the growing demand for natural and herbal remedies. Consumers are becoming more conscious about the ingredients in the products they use and are seeking alternatives to traditional pharmaceuticals. This trend is driven by a desire for more natural and holistic approaches to health and well-being. As a result, there has been an increase in the availability and popularity of herbal supplements, vitamins, and other natural remedies in the market.Another trend in the market is the rise of e-commerce and online sales of OTC pharmaceutical products. With the increasing use of smartphones and internet access, consumers are turning to online platforms to purchase their healthcare products. This trend is driven by the convenience and accessibility of online shopping, as well as the availability of a wide range of products and competitive prices. Online retailers are capitalizing on this trend by offering discounts, promotions, and personalized recommendations based on consumer preferences and previous purchases.

Local special circumstances: Czechia has a well-developed healthcare system, with a high level of accessibility to healthcare services and a strong emphasis on preventive care. The government has implemented policies to promote self-care and self-medication, including the deregulation of certain OTC pharmaceutical products. This has created a favorable environment for the OTC Pharmaceuticals market to thrive, as consumers have easier access to a wide range of products without the need for a prescription.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Czechia is also influenced by underlying macroeconomic factors. The country has a stable economy with a high level of disposable income, which allows consumers to spend more on healthcare products. Additionally, the aging population and the increasing prevalence of chronic diseases are driving the demand for OTC pharmaceutical products. As people live longer, they are more likely to experience common health issues that can be managed with OTC products.In conclusion, the OTC Pharmaceuticals market in Czechia is experiencing growth due to customer preferences for self-medication and convenience, the increasing demand for natural and herbal remedies, the rise of e-commerce, the local special circumstances that promote self-care, and the underlying macroeconomic factors such as a stable economy and an aging population. These factors are expected to continue driving the growth of the market in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.