OTC Pharmaceuticals - Kenya

Kenya

The OTC Pharmaceuticals market in Kenya is projected to generate a revenue of US$373.60m in 2024.
This market is expected to experience an annual growth rate of 6.41% (CAGR 2024-2029).
Among the various submarkets within this industry, Vitamins & Minerals emerges as the largest with a market volume of US$177.90m in 2024.
When compared globally, the in the United States leads the pack in terms of revenue generation, with a staggering US$41,240.00m in 2024.
In Kenya, the per person revenues for OTC Pharmaceuticals market are estimated to be US$6.65 in 2024, taking into account the country's total population figures.
Furthermore, online sales are predicted to contribute 1.38% of the total revenue in the OTC Pharmaceuticals market by 2024.
The demand for OTC Pharmaceuticals in Kenya is on the rise due to the growing awareness of self-medication and the availability of affordable healthcare options.

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 Kenya is experiencing significant growth and development in recent years.

Customer preferences: Customers in Kenya are increasingly turning to over-the-counter (OTC) pharmaceutical products for their healthcare needs. This shift in preference can be attributed to several factors. Firstly, OTC medications are easily accessible and do not require a prescription, making them convenient for consumers. Additionally, the lower cost of OTC products compared to prescription medications is appealing to price-sensitive consumers. Furthermore, the increasing awareness and education about self-care and self-medication have contributed to the growing demand for OTC pharmaceuticals in Kenya.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Kenya is the rising demand for herbal and natural remedies. Kenyan consumers have a long-standing tradition of using traditional medicine and herbal remedies, and this trend has continued to grow in recent years. The demand for herbal OTC products is driven by a desire for natural and holistic healthcare solutions. Manufacturers and retailers are capitalizing on this trend by introducing a wide range of herbal and natural OTC products to meet the needs of the market.Another trend in the market is the increasing availability of OTC pharmaceuticals in retail pharmacies and supermarkets. Previously, OTC products were primarily sold in traditional pharmacies, but there has been a shift towards making these products more accessible to consumers. Retail pharmacies and supermarkets are expanding their OTC product offerings to cater to the growing demand. This trend is driven by the convenience and accessibility that these outlets provide to consumers.

Local special circumstances: Kenya has a large and growing population, which presents a significant market opportunity for OTC pharmaceutical companies. The country's healthcare system is also evolving, with a focus on improving access to healthcare services for all citizens. As a result, the demand for OTC pharmaceuticals is expected to continue to rise in the coming years.Furthermore, Kenya has a robust regulatory framework for pharmaceutical products, ensuring that OTC medications meet the required quality and safety standards. This regulatory environment provides consumers with confidence in the OTC products available in the market.

Underlying macroeconomic factors: The growth of the OTC Pharmaceuticals market in Kenya can be attributed to several macroeconomic factors. Firstly, the country's economy has been experiencing steady growth, resulting in an increase in disposable income among consumers. This has led to higher healthcare spending and a greater willingness to purchase OTC pharmaceutical products.Additionally, the government of Kenya has been promoting and investing in the healthcare sector, including the development of primary healthcare facilities. This focus on healthcare infrastructure has improved access to healthcare services and increased awareness about the importance of self-care and self-medication.In conclusion, the OTC Pharmaceuticals market in Kenya is witnessing significant growth and development due to customer preferences for convenient and affordable healthcare solutions. The market is also influenced by trends such as the demand for herbal and natural remedies and the increasing availability of OTC products in retail pharmacies and supermarkets. Local special circumstances, such as the country's large population and robust regulatory framework, further contribute to the market's growth. Additionally, underlying macroeconomic factors, including economic growth and government investment in healthcare, are driving the expansion of the OTC Pharmaceuticals market in Kenya.

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.