OTC Pharmaceuticals - EAEU

EAEU

In 2024, the revenue in the OTC Pharmaceuticals market in the EAEU amounts to US$6.90bn.
It is projected that the market will experience an annual growth rate of 3.23% (CAGR 2024-2029).
Among the various markets in the market, Other OTC Pharmaceuticals holds the largest market share with a volume of US$2.03bn in 2024.
When compared globally, the in the United States generates the highest revenue in the OTC Pharmaceuticals market, reaching US$41,240.00m in 2024.
Considering the population figures, per person revenues of US$37.73 are generated in 2024.
Furthermore, it is estimated that 10.42% of the total revenue in the OTC Pharmaceuticals market will be generated through online sales by 2024.
This indicates the increasing significance of e-commerce in this sector.
In the EAEU, OTC Pharmaceuticals market is experiencing a growing demand for natural remedies and traditional medicine.

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 EAEU is experiencing significant growth and development due to several factors.

Customer preferences: Customers in the EAEU region have shown a growing preference for over-the-counter (OTC) pharmaceuticals. This can be attributed to several factors, including convenience, accessibility, and cost-effectiveness. OTC medications allow customers to self-diagnose and self-treat common ailments without the need for a prescription or a visit to a healthcare professional. This convenience factor is particularly appealing to busy individuals who may not have the time to schedule a doctor's appointment. Additionally, OTC medications are often more affordable than prescription drugs, making them an attractive option for customers looking to save money on healthcare expenses.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in the EAEU region is the increasing availability and variety of OTC products. Pharmaceutical companies are expanding their product portfolios to include a wider range of OTC medications, catering to the diverse needs of customers. This includes products for pain relief, cough and cold, allergies, digestive health, and skincare, among others. The market is also witnessing a rise in the popularity of natural and herbal remedies, as customers seek alternative options for managing their health.

Local special circumstances: The EAEU region is characterized by a diverse population with varying healthcare needs. This diversity is reflected in the demand for OTC pharmaceuticals, as customers seek products that align with their cultural and traditional beliefs. For example, certain herbal remedies and traditional medicines are highly valued in some countries within the EAEU region. This has led to the development of a niche market for herbal and traditional OTC products, catering to the specific preferences of local customers.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in the EAEU region is also influenced by macroeconomic factors such as increasing disposable incomes and improving healthcare infrastructure. As economies in the region continue to grow, individuals have more disposable income to spend on healthcare products, including OTC medications. This has led to an increase in demand for OTC pharmaceuticals, as customers are able to afford a wider range of products. Furthermore, the improving healthcare infrastructure in the region has made OTC medications more accessible to customers, with pharmacies and retail outlets expanding their presence in urban and rural areas.In conclusion, the OTC Pharmaceuticals market in the EAEU region is experiencing growth and development due to customer preferences for convenience and cost-effectiveness, the increasing availability and variety of OTC products, local special circumstances such as cultural preferences for herbal and traditional remedies, and underlying macroeconomic factors such as increasing disposable incomes and improving healthcare infrastructure. These factors are driving the demand for OTC pharmaceuticals and shaping the market landscape in the EAEU region.

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.