OTC Pharmaceuticals - LATAM
LATAM- The OTC Pharmaceuticals market in LATAM is projected to generate a revenue of US$15.38bn in 2024.
- This market is expected to experience a steady annual growth rate of 4.83% (CAGR 2024-2028).
- Among the various categories within this market, Analgesics emerges as the largest, with a market volume of US$3.22bn in 2024.
- In terms of global comparison, the United States leads the way in revenue generation, with a staggering US$41.24bn in 2024.
- However, when considering the per capita figures, in Latin America demonstrates a per person revenue of US$24.19 in 2024, indicating the potential for further growth in this market in the region.
- Furthermore, online sales are expected to play a significant role in the OTC Pharmaceuticals market, accounting for 13.99% of the total revenue by 2024.
- This highlights the increasing preference for online purchasing channels in the region.
- In LATAM, the OTC Pharmaceuticals market is experiencing a surge in demand for natural remedies and herbal supplements.
- 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.
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In-Scope
- Natural and synthetic agents
- Analgesics (e.g. Asprin, Paracetamol)
- Cough & Cold remedies (e.g. Vicks VapoRub)
- Vitamins and Minerals
- Skin treatment products
Out-Of-Scope
- Prescription medicines
- Homeopathic remedies
