OTC Pharmaceuticals - Lithuania | Statista Market Forecast

In 2024, Lithuania's OTC Pharmaceuticals market is projected to generate a revenue of US$366.20m.
This market is expected to experience an annual growth rate of 5.51% (CAGR 2024-2029).
The largest market within the OTC Pharmaceuticals market market is Other OTC Pharmaceuticals, with a market volume of US$127.40m in 2024.
When compared globally, the United States leads in revenue generation, with US$41.24bn in 2024.
In terms of per capita revenue, Lithuania's OTC Pharmaceuticals market generates US$136.00 per person in 2024.
Furthermore, it is estimated that 4.23% of the total revenue in the OTC Pharmaceuticals market will be generated through online sales by 2024.
The increasing popularity of herbal remedies in Lithuania has led to a rise in demand for natural OTC pharmaceuticals.

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 Lithuania is experiencing steady growth and development.

Customer preferences: Lithuanian consumers 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 medicines compared to prescription drugs. Customers appreciate the ease of purchasing OTC products without the need for a doctor's prescription, which saves time and allows them to quickly address common health issues. Additionally, the affordability of OTC medications compared to prescription drugs is also a key factor driving customer preferences in Lithuania.

Trends in the market: One of the notable trends in the OTC Pharmaceuticals market in Lithuania is the increasing demand for natural and herbal remedies. Consumers are becoming more health-conscious and are seeking alternative treatments that are perceived to be safer and have fewer side effects. This trend aligns with the global shift towards natural and holistic approaches to healthcare. As a result, there has been a rise in the availability and variety of natural and herbal OTC products in the Lithuanian market.Another trend in the market is the growing focus on preventive healthcare. Consumers are increasingly proactive in taking care of their health and are seeking OTC products that can help prevent common ailments. This includes a wide range of products such as vitamins, dietary supplements, and immune-boosting remedies. The COVID-19 pandemic has further accelerated this trend, with consumers seeking OTC products that can support their immune system and overall well-being.

Local special circumstances: Lithuania has a well-developed healthcare system that provides easy access to healthcare services. However, the system is burdened by long waiting times for doctor appointments and limited availability of prescription medications. This has led to an increased reliance on OTC products for self-care and the management of minor health issues. The accessibility and affordability of OTC medications make them an attractive option for consumers seeking immediate relief.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Lithuania is influenced by various macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable incomes. This has resulted in higher consumer spending on healthcare products, including OTC medications. Additionally, the aging population in Lithuania has contributed to the growth of the OTC Pharmaceuticals market. As the elderly population increases, there is a greater demand for OTC products to address age-related health issues.In conclusion, the OTC Pharmaceuticals market in Lithuania is driven by customer preferences for convenience, affordability, and natural remedies. The market is witnessing a growing demand for OTC products that promote preventive healthcare and support overall well-being. The accessibility of OTC medications, coupled with local special circumstances such as long waiting times for doctor appointments, has further fueled the market's growth. The underlying macroeconomic factors, including economic growth and an aging population, also contribute to the development of the OTC Pharmaceuticals market in Lithuania.

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.