OTC Pharmaceuticals - Ethiopia

Ethiopia

In 2024, the revenue generated in the OTC Pharmaceuticals market in Ethiopia amounts to US$369.50m.
It is projected that the market will experience an annual growth rate of 11.25% (CAGR 2024-2029).
The largest market within this industry is Analgesics, which achieved a market volume of US$105.70m in 2024.
When compared globally, the in the United States generates the highest revenue in this market, reaching US$41,240.00m in 2024.
In terms of per capita figures, each person in Ethiopia generates revenues of US$2.85 in 2024.
Additionally, it is estimated that online sales will contribute 2.32% of the total revenue in the OTC Pharmaceuticals market by 2024.
Ethiopia's OTC Pharmaceuticals market is witnessing a surge in demand for traditional herbal remedies as consumers prioritize natural and holistic healthcare options.

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 Ethiopia has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.Customer preferences in Ethiopia have played a significant role in the growth of the OTC Pharmaceuticals market. With limited access to healthcare facilities and a lack of health insurance coverage, many Ethiopians rely on over-the-counter medications for self-treatment of common ailments. This preference for self-medication has driven the demand for OTC pharmaceuticals in the country.Trends in the market have also contributed to the growth of the OTC Pharmaceuticals market in Ethiopia. The increasing urbanization and population growth in the country have led to a higher demand for healthcare products, including OTC medications. Additionally, the rising awareness of health and wellness among Ethiopians has resulted in a greater willingness to purchase OTC pharmaceuticals for preventive care.Local special circumstances in Ethiopia have further fueled the growth of the OTC Pharmaceuticals market. The country has a limited number of healthcare facilities, particularly in rural areas, which has led to a reliance on OTC medications for primary healthcare needs. Additionally, the cost of prescription medications can be prohibitive for many Ethiopians, making OTC pharmaceuticals a more affordable option.Underlying macroeconomic factors have also contributed to the growth of the OTC Pharmaceuticals market in Ethiopia. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and purchasing power. This has allowed more Ethiopians to afford OTC medications and contribute to the growth of the market.In conclusion, the OTC Pharmaceuticals market in Ethiopia has been developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The preference for self-medication, urbanization, population growth, limited healthcare facilities, high cost of prescription medications, and economic growth have all contributed to the growth of the market. As these factors continue to shape the healthcare landscape in Ethiopia, the OTC Pharmaceuticals market is expected to further expand in the coming years.

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.