OTC Pharmaceuticals - Israel | Statista Market Forecast

The revenue generated from the OTC Pharmaceuticals market in Israel is estimated to be US$918.30m in 2024.
It is projected to experience an annual growth rate of 4.72% (CAGR 2024-2029).
Among the various markets within this market, Vitamins & Minerals holds the largest market share, reaching a volume of US$375.60m in 2024.
When compared globally, the United States generates the highest revenue, amounting to US$41.24bn in 2024.
In terms of per capita, in Israel generates revenues of US$98.61 per person in 2024.
Furthermore, online sales are expected to contribute 20.57% of the total revenue in the OTC Pharmaceuticals market by 2024.
The OTC Pharmaceuticals market in Israel is witnessing a surge in demand for natural and herbal remedies.

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.

Natural and synthetic agents
Analgesics (e.g. Asprin, Paracetamol)
Cough & Cold remedies (e.g. Vicks VapoRub)
Vitamins and Minerals
Skin treatment products

Prescription medicines
Homeopathic remedies

The OTC Pharmaceuticals market in Israel 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 Israel are increasingly opting for over-the-counter (OTC) pharmaceutical products due to their convenience and accessibility. OTC medications provide individuals with the ability to self-diagnose and treat minor ailments without the need for a doctor's prescription. This trend is driven by the busy lifestyles of individuals who prefer quick and easy solutions for their health issues. Additionally, customers are becoming more health-conscious and are actively seeking preventive healthcare options, leading to an increased demand for OTC pharmaceuticals.

Trends in the market: One of the prominent trends in the OTC Pharmaceuticals market in Israel is the growing demand for natural and herbal remedies. Customers are increasingly looking for products that are perceived to be more natural and have fewer side effects. This trend is driven by the rising awareness of the potential risks associated with long-term use of certain pharmaceutical products. As a result, there has been an increase in the availability and variety of natural and herbal OTC pharmaceutical products in the market.Another trend in the market is the increasing focus on personalized healthcare. Customers are seeking products that cater to their specific needs and preferences. This has led to the development of specialized OTC pharmaceutical products targeting specific demographics such as children, women, and the elderly. Manufacturers are also investing in research and development to create innovative products that address specific health concerns.

Local special circumstances: Israel has a well-developed healthcare system, with a high level of accessibility to healthcare services. The country has a strong pharmaceutical industry and a robust regulatory framework that ensures the safety and quality of OTC pharmaceutical products. This favorable environment has encouraged both local and international pharmaceutical companies to invest in the market, leading to a wide range of OTC products being available to customers.

Underlying macroeconomic factors: Israel has a growing population and a high life expectancy, which has resulted in an increased demand for healthcare services, including OTC pharmaceuticals. The country's strong economy and high disposable income levels have also contributed to the growth of the OTC Pharmaceuticals market. Additionally, the government's focus on promoting preventive healthcare and wellness initiatives has further fueled the demand for OTC pharmaceutical products.In conclusion, the OTC Pharmaceuticals market in Israel is witnessing steady growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for OTC pharmaceuticals is driven by customer convenience, the growing preference for natural and personalized healthcare options, and the favorable healthcare infrastructure in the country.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.