OTC Pharmaceuticals - Iran

Iran

In 2024, the revenue in the OTC Pharmaceuticals market in Iran amounts to US$1,160.00m.
It is expected to grow annually by 5.93% (CAGR 2024-2029).
The largest market in this market is Vitamins & Minerals, with a market volume of US$354.80m in 2024.
When compared globally, the in the United States generates the highest revenue in this market, amounting to US$41,240.00m in 2024.
In relation to the total population, per person revenues of US$12.92 are generated in 2024.
Furthermore, it is projected that 2.16% of the total revenue in the OTC Pharmaceuticals market in Iran will be generated through online sales by 2024.
Iran has seen an increase in demand for OTC Pharmaceuticals due to the growing awareness of self-care and the availability of a wide range of products in the market.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: One of the key reasons for the growth of the OTC Pharmaceuticals market in Iran is the increasing preference of customers for self-medication. With the rising healthcare costs and limited access to healthcare facilities in certain areas, many consumers in Iran are turning to over-the-counter medications to treat common ailments and minor health issues. This trend is driven by the convenience and affordability of OTC medicines, as well as the growing awareness and knowledge about self-care practices among the Iranian population.

Trends in the market: The OTC Pharmaceuticals market in Iran is witnessing a shift towards herbal and traditional medicines. Traditional Iranian medicine, known as "Tibb-e-Unani" or "Persian medicine," has a long history and is deeply rooted in the culture and traditions of the country. Many Iranians are embracing traditional remedies and seeking out herbal and natural OTC products for their health needs. This trend is driven by the perception that herbal medicines are safer and have fewer side effects compared to synthetic drugs.Another trend in the market is the increasing availability of OTC medications in pharmacies and drugstores across Iran. The government has implemented policies to improve access to healthcare services and medications, including OTC drugs. This has led to a wider distribution network for OTC products, making them more accessible to consumers in both urban and rural areas.

Local special circumstances: Iran has a large and growing population, which presents a significant market opportunity for OTC pharmaceutical companies. The country's population is relatively young, with a high proportion of people in the working-age group. This demographic profile indicates a potential increase in healthcare needs and demand for OTC medications in the coming years.Additionally, Iran has a strong pharmaceutical manufacturing industry, with several domestic companies producing a wide range of OTC products. This local production capability not only ensures a steady supply of OTC medications but also contributes to the affordability of these products for consumers.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Iran is influenced by various macroeconomic factors. The country's economic growth and increasing disposable income levels have contributed to the rising demand for OTC medications. As more Iranians have access to higher incomes, they are willing to spend more on healthcare and wellness products, including OTC drugs.Furthermore, the government's focus on healthcare development and reforms has played a significant role in the growth of the OTC Pharmaceuticals market. Initiatives to improve healthcare infrastructure, increase healthcare spending, and enhance access to medications have all contributed to the expansion of the OTC market in Iran.In conclusion, the OTC Pharmaceuticals market in Iran is experiencing growth due to the increasing preference for self-medication, the shift towards herbal and traditional medicines, the wider availability of OTC medications, the country's large and young population, the strong local pharmaceutical manufacturing industry, and the positive macroeconomic factors such as economic growth and government healthcare reforms.

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.