OTC Pharmaceuticals - G20

In 2024, the OTC Pharmaceuticals market in G20 countries is projected to generate revenue amounting to US$164.00bn.
This market is expected to experience an annual growth rate of 4.53% (CAGR 2024-2029).
Among the various markets within this market, the largest is the Cold & Cough Remedies segment, which is estimated to reach a market volume of US$36.22bn in 2024.
On a global scale, the in the United States leads in terms of revenue generation, with a projected revenue of US$41,240.00m in 2024.
When considering the population of G20 countries, the per person revenue in the OTC Pharmaceuticals market is forecasted to be US$32.98 in 2024.
Furthermore, it is anticipated that online sales will contribute approximately 30.90% of the total revenue in the OTC Pharmaceuticals market by 2024.
In the G20 country of Germany, there is a growing trend towards natural and herbal OTC pharmaceuticals as consumers prioritize holistic health and wellness.

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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Market

Region

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in G20 has been experiencing significant growth in recent years.

Customer preferences: Customers in the G20 countries have shown a growing preference for over-the-counter (OTC) pharmaceuticals due to several reasons. Firstly, OTC drugs offer convenience as they can be purchased without a prescription, allowing customers to self-diagnose and self-treat common ailments. This is particularly appealing for minor health issues that do not require a doctor's visit. Secondly, OTC drugs are often more affordable than prescription medications, making them accessible to a wider range of customers. Finally, the increasing popularity of online shopping has made it easier for customers to purchase OTC pharmaceuticals from the comfort of their homes.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in G20 is the growing demand for natural and herbal remedies. Customers are becoming more conscious about the potential side effects of synthetic drugs and are turning to natural alternatives. This trend is driven by the increasing awareness of the benefits of natural ingredients and the availability of a wide range of natural OTC products. Additionally, the aging population in many G20 countries has led to a higher demand for OTC products that cater to specific age-related health issues, such as joint pain and cardiovascular health.Another trend in the market is the increasing focus on preventive healthcare. Customers are becoming proactive in managing their health and are seeking OTC products that can help prevent illnesses and maintain overall well-being. This trend is driven by the rising healthcare costs and the desire to reduce the reliance on prescription medications. As a result, there is a growing demand for OTC products such as vitamins, supplements, and preventive medications.

Local special circumstances: The OTC Pharmaceuticals market in each G20 country is influenced by local special circumstances. For example, in emerging economies such as India and China, the market is driven by a large population and increasing disposable income. These countries have a growing middle class that is willing to spend on healthcare products, including OTC pharmaceuticals. On the other hand, in developed economies such as the United States and Germany, the market is driven by a high level of healthcare awareness and a well-established retail infrastructure.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the growth of the OTC Pharmaceuticals market in G20. Firstly, the increasing prevalence of chronic diseases, such as diabetes and hypertension, is driving the demand for OTC medications that can help manage these conditions. Secondly, the rising healthcare costs and the burden on the healthcare system are encouraging customers to seek self-care options through OTC products. Lastly, the growing aging population in many G20 countries is creating a larger customer base for OTC pharmaceuticals that cater to age-related health issues.In conclusion, the OTC Pharmaceuticals market in G20 is experiencing growth due to customer preferences for convenience, affordability, and natural remedies. The market is also influenced by local special circumstances and underlying macroeconomic factors. The trends in the market include the demand for natural and herbal remedies, preventive healthcare products, and age-specific OTC medications. Overall, the market is expected to continue growing as customers increasingly take charge of their own health and seek accessible healthcare solutions.

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.