OTC Pharmaceuticals - Jordan

Jordan

In 2024, the OTC Pharmaceuticals market in Jordan is projected to generate a revenue of US$236.00m.
It is expected to grow at an annual rate of 6.97% (CAGR 2024-2029).
Among the various markets, the largest one is Vitamins & Minerals, with a market volume of US$104.30m in 2024.
When comparing in Jordan to other countries globally, the in the United States generates the highest revenue in the OTC Pharmaceuticals market, reaching US$41,240.00m in 2024.
Considering the population size, the per person revenues in Jordan are estimated to be US$20.73 in 2024.
Furthermore, it is projected that 1.60% of the total revenue in the OTC Pharmaceuticals market in Jordan will be generated through online sales by 2024.
The demand for OTC Pharmaceuticals in Jordan has been steadily increasing due to the growing awareness about self-care and the availability of a wide range of products in pharmacies.

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 Jordan is experiencing steady growth due to several key factors.

Customer preferences: Customers in Jordan have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience and accessibility of OTC products compared to prescription medications. OTC products allow customers to self-diagnose and self-treat common ailments without the need for a doctor's visit or prescription. Additionally, OTC products are often more affordable than prescription medications, making them an attractive option for customers looking to manage their healthcare costs.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Jordan is the increasing demand for vitamins and dietary supplements. This can be attributed to a growing awareness among consumers about the importance of maintaining good health and preventing diseases. As a result, there has been a surge in the demand for vitamins, minerals, and other dietary supplements that can help support overall health and well-being. This trend is expected to continue in the coming years as more consumers prioritize their health and seek out preventive healthcare solutions.Another trend in the market is the rising popularity of herbal and natural remedies. Consumers in Jordan are increasingly seeking out alternative and complementary therapies for managing their health conditions. This has led to an increased demand for herbal and natural products, such as herbal teas, essential oils, and traditional remedies. Consumers perceive these products as being safer and more natural compared to conventional medications, which has fueled their popularity in the market.

Local special circumstances: One of the unique circumstances in the Jordanian market is the prevalence of self-medication. Due to the high cost of healthcare and limited access to medical professionals in some areas, many consumers in Jordan rely on self-medication to manage their health conditions. This has created a strong demand for OTC pharmaceutical products, as consumers seek out affordable and accessible treatment options.

Underlying macroeconomic factors: The growth of the OTC Pharmaceuticals market in Jordan can also be attributed to several underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has contributed to an increase in disposable income and consumer spending. This has allowed consumers to allocate more of their budget towards healthcare and wellness products, including OTC pharmaceuticals.Furthermore, the government of Jordan has implemented policies to promote the development of the healthcare sector, including the OTC Pharmaceuticals market. This has created a favorable regulatory environment for manufacturers and distributors of OTC products, encouraging investment and innovation in the market.In conclusion, the OTC Pharmaceuticals market in Jordan is experiencing steady growth due to customer preferences for convenience and affordability, as well as the increasing demand for vitamins, dietary supplements, and herbal remedies. The prevalence of self-medication and the favorable macroeconomic factors in the country have further contributed to the market's development.

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.