OTC Pharmaceuticals - G7

In 2024, the revenue in the OTC Pharmaceuticals market in G7 amounts to US$76.83bn.
It is projected to experience an annual growth rate of 3.50% (CAGR 2024-2029).
The largest market within this market is Other OTC Pharmaceuticals, with a market volume of US$17.66bn in 2024.
When compared globally, the in the United States generates the highest revenue, reaching US$41,240.00m in 2024.
In terms of per person revenues, the OTC Pharmaceuticals market generates US$98.70 per individual in 2024.
Furthermore, it is estimated that 28.93% of the total revenue in this market will be generated through online sales by 2024.
In the United States, the OTC Pharmaceuticals market is experiencing a growing demand for natural and herbal remedies.

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 G7 countries is experiencing steady growth due to various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in G7 countries are increasingly opting for over-the-counter (OTC) pharmaceutical products due to their convenience and accessibility. OTC medications are readily available without a prescription, allowing consumers to self-diagnose and treat common ailments. This trend is driven by the desire for quick relief from symptoms and the preference for self-care. Additionally, customers are becoming more health-conscious and are seeking preventive measures to maintain their well-being, leading to an increased demand for OTC vitamins and supplements.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in G7 countries is the growing demand for natural and herbal remedies. Consumers are increasingly seeking alternative treatments and are willing to try natural products for various health conditions. This trend is driven by the perception that natural remedies have fewer side effects and are more sustainable. As a result, companies are introducing a wide range of OTC products derived from natural ingredients to cater to this growing demand.Another significant trend in the market is the increasing popularity of online retail channels for purchasing OTC pharmaceuticals. E-commerce platforms provide consumers with a convenient and hassle-free shopping experience, enabling them to compare prices, read reviews, and make informed decisions. The COVID-19 pandemic has further accelerated this trend, as consumers have turned to online channels to avoid physical contact and minimize the risk of exposure to the virus.

Local special circumstances: Each G7 country has its own unique set of circumstances that influence the OTC Pharmaceuticals market. For example, in the United States, the market is highly regulated by the Food and Drug Administration (FDA), which ensures the safety and efficacy of OTC products. In Japan, the aging population and the high cost of healthcare have led to a greater reliance on self-medication and OTC products. In Germany, the market is characterized by a strong preference for natural and homeopathic remedies.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in G7 countries is influenced by various macroeconomic factors. Economic growth, disposable income levels, and healthcare expenditure play a crucial role in determining the demand for OTC products. As the economy improves and disposable incomes rise, consumers are more likely to spend on healthcare products, including OTC pharmaceuticals. Additionally, government policies and regulations related to healthcare and pharmaceuticals also impact the market dynamics.In conclusion, the OTC Pharmaceuticals market in G7 countries is driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for OTC products is expected to continue growing as consumers seek convenient and accessible healthcare solutions. Companies operating in this market should adapt to these trends and cater to the evolving needs of customers to maintain a competitive edge.

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.