OTC Pharmaceuticals - Iraq

Iraq

The revenue generated in the OTC Pharmaceuticals market in Iraq is projected to reach US$602.10m in 2024.
It is expected that the market will experience an annual growth rate of 3.40% (CAGR 2024-2029).
Among the various markets in this market, the Analgesics market holds the largest market share, with a volume of US$128.60m in 2024.
When compared globally, the in the United States leads in revenue generation, with US$41,240.00m in 2024.
Taking into account the population figures, the per capita revenue in Iraq's OTC Pharmaceuticals market is estimated to be US$12.94 in 2024.
Furthermore, it is anticipated that online sales will contribute 0.35% of the total revenue generated in the OTC Pharmaceuticals market by 2024.
Despite the challenging economic and political situation in Iraq, the demand for OTC Pharmaceuticals remains steady due to the limited access to healthcare facilities in the country.

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 Iraq is experiencing steady growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in Iraq play a significant role in shaping the OTC Pharmaceuticals market. Consumers in Iraq have a strong preference for self-medication and over-the-counter products due to factors such as convenience, cost-effectiveness, and the availability of a wide range of OTC medications. This preference is driven by the need for immediate relief from common ailments and the desire to avoid the hassle of visiting a doctor for minor health issues. As a result, the demand for OTC pharmaceuticals in Iraq continues to rise.Trends in the market also contribute to the growth of the OTC Pharmaceuticals market in Iraq. One notable trend is the increasing availability of OTC medications in pharmacies and retail outlets across the country. This trend is driven by the efforts of pharmaceutical companies to expand their distribution networks and reach a larger customer base. Additionally, there is a growing trend of online pharmacies and e-commerce platforms offering OTC medications, providing consumers with more options and convenience in purchasing these products.Local special circumstances in Iraq also impact the development of the OTC Pharmaceuticals market. The country's healthcare system is still recovering from years of conflict and instability, which has resulted in limited access to healthcare services, including prescription medications. As a result, OTC medications have become a vital source of healthcare for many Iraqis. Additionally, the presence of a large young population in Iraq contributes to the demand for OTC pharmaceuticals, as younger individuals are more likely to engage in self-medication practices.Underlying macroeconomic factors further drive the growth of the OTC Pharmaceuticals market in Iraq. The country's improving economic conditions, coupled with rising disposable incomes, have led to increased spending on healthcare products, including OTC medications. Furthermore, the government's efforts to promote the development of the healthcare sector and improve access to affordable healthcare services have also contributed to the growth of the OTC Pharmaceuticals market.In conclusion, the OTC Pharmaceuticals market in Iraq is experiencing steady growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The strong preference for self-medication, increasing availability of OTC medications, limited access to prescription medications, and improving economic conditions all contribute to the growth of the market. As the healthcare system in Iraq continues to recover and the economy strengthens, the demand for OTC pharmaceuticals is expected to further increase.

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.