OTC Pharmaceuticals - Malta

Malta

The OTC Pharmaceuticals market in Malta is projected to generate a revenue of US$100.10m in 2024.
It is expected to experience an annual growth rate of 3.74% (CAGR 2024-2029).
Among the various markets in this market, the Other OTC Pharmaceuticals market holds the largest market share, with a volume of US$51.59m in 2024.
When compared globally, the in the United States leads in revenue generation, with US$41,240.00m in 2024.
In terms of per capita revenue, each person in Malta is projected to generate US$186.50 in 2024.
Furthermore, online sales are estimated to contribute 0.48% of the total revenue in the OTC Pharmaceuticals market by 2024.
Malta's OTC Pharmaceuticals market is witnessing a growing demand for natural and herbal remedies among consumers.

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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Market

Region

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Currency

Analyst Opinion

The OTC Pharmaceuticals market in Malta has been experiencing steady growth in recent years. Customer preferences in the OTC Pharmaceuticals market in Malta are driven by several factors. Firstly, there is a growing demand for self-medication and convenience. Consumers are increasingly looking for over-the-counter options for common ailments and minor health issues, as they provide a quick and accessible solution without the need for a prescription or a visit to the doctor. This trend is particularly prominent among younger generations who are more tech-savvy and prefer to research and purchase products online.Another key customer preference in the OTC Pharmaceuticals market in Malta is the desire for natural and herbal remedies. There is a growing awareness and interest in alternative medicine and holistic approaches to health, which has led to an increased demand for OTC products that are perceived as more natural and less chemically-based. This preference is driven by a desire for a more holistic approach to health and a belief in the healing power of nature.Trends in the OTC Pharmaceuticals market in Malta are influenced by global and regional market dynamics. One significant trend is the increasing availability and accessibility of OTC products through online platforms. E-commerce has become a popular channel for purchasing OTC Pharmaceuticals, offering consumers a wide range of products and the convenience of home delivery. This trend is expected to continue as more consumers embrace online shopping and seek out the convenience and competitive prices offered by online retailers.Another trend in the OTC Pharmaceuticals market in Malta is the growing focus on preventive healthcare. Consumers are becoming more proactive in managing their health and are seeking out OTC products that can help prevent illness and promote overall well-being. This trend is driven by a desire to lead healthier lifestyles and avoid costly medical treatments. As a result, there is an increasing demand for OTC products that target specific health concerns such as vitamins, supplements, and preventive treatments.Local special circumstances in Malta also influence the OTC Pharmaceuticals market. The country has a small population and limited healthcare resources, which means that consumers often rely on self-medication and OTC products for minor health issues. Additionally, Malta has a significant tourism industry, attracting millions of visitors each year. This presents an opportunity for the OTC Pharmaceuticals market as tourists often purchase OTC products for common ailments while on vacation.Underlying macroeconomic factors also play a role in the development of the OTC Pharmaceuticals market in Malta. The country has a stable economy and a high standard of living, which allows consumers to afford OTC products. Additionally, the government has implemented policies to promote the development of the healthcare sector, including the OTC Pharmaceuticals market. This has created a favorable business environment for companies operating in the market and has contributed to its growth.In conclusion, the OTC Pharmaceuticals market in Malta is experiencing steady growth driven by customer preferences for self-medication, convenience, natural remedies, and preventive healthcare. Trends in the market include the increasing availability of OTC products through online platforms and the growing focus on preventive healthcare. Local special circumstances, such as a small population and a significant tourism industry, also influence the market. Underlying macroeconomic factors, including a stable economy and government support, contribute to the development of the market.

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.