Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, China, Germany, Japan, Europe
The OTC Pharmaceuticals market in EU-27 is experiencing steady growth due to various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the EU-27 region play a significant role in the development of the OTC Pharmaceuticals market. Consumers in this region are increasingly seeking convenience and cost-effectiveness in their healthcare choices. They prefer self-medication for minor ailments and are more inclined towards purchasing over-the-counter (OTC) medicines without a prescription. This preference for OTC medicines is driven by factors such as ease of access, affordability, and the ability to self-diagnose and treat common health conditions.Trends in the market also contribute to the growth of the OTC Pharmaceuticals market in the EU-27 region. One notable trend is the increasing focus on preventive healthcare and wellness. Consumers are becoming more proactive in managing their health and are willing to invest in OTC products that promote overall well-being. This trend is supported by the availability of a wide range of OTC products that cater to different health needs, including vitamins, dietary supplements, and natural remedies.Another trend in the market is the growing popularity of online and e-commerce platforms for purchasing OTC medicines. The convenience of online shopping, coupled with the availability of a vast selection of products, has attracted a significant number of consumers in the EU-27 region. Online platforms also provide customers with the opportunity to compare prices, read reviews, and access information about the products, further influencing their purchasing decisions.Local special circumstances in the EU-27 region also contribute to the development of the OTC Pharmaceuticals market. The presence of a well-established healthcare infrastructure and regulatory framework ensures the safety and quality of OTC medicines. Additionally, the high level of consumer awareness and education regarding self-care and responsible medication use further drives the demand for OTC products.Underlying macroeconomic factors, such as increasing disposable income and changing demographics, also play a role in the growth of the OTC Pharmaceuticals market in the EU-27 region. As disposable income levels rise, consumers have more purchasing power to spend on healthcare products. Furthermore, the aging population in many EU-27 countries creates a growing demand for OTC medicines to manage age-related health conditions.In conclusion, the OTC Pharmaceuticals market in the EU-27 region is developing steadily due to customer preferences for convenience and cost-effectiveness, trends in the market such as preventive healthcare and online shopping, local special circumstances such as a well-established healthcare infrastructure, and underlying macroeconomic factors including increasing disposable income and changing demographics. These factors collectively contribute to the growth and expansion of the OTC Pharmaceuticals market in the EU-27 region.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)