Market Insights Health OTC Pharmaceuticals

Other OTC Pharmaceuticals - Americas

Americas

In 2024, the Other OTC Pharmaceuticals market in the Americas generated a revenue of US$10.55k.
It is projected to experience an annual growth rate of 1.09% (CAGR 2024-2029).
Among all countries Worldwide, the in the United States contributed the highest revenue, reaching US$7,171.00 in 2024.
When considering the population size, the per person revenue in the Americas amounted to US$10.37 in 2024.
In the Americas, the demand for Other OTC Pharmaceuticals is soaring due to the increasing emphasis on self-care and consumer empowerment in healthcare.

Key regions: United States, Brazil, Europe, Canada, United Kingdom

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Analyst Opinion

The Other OTC Pharmaceuticals market in Americas is experiencing significant growth due to changing customer preferences and trends in the market.

Customer preferences: Customers in the Americas are increasingly turning to over-the-counter (OTC) pharmaceuticals for self-medication and minor health issues. The convenience of purchasing these products without a prescription, coupled with the rising healthcare costs, has driven the demand for OTC pharmaceuticals. Customers are also becoming more health-conscious and proactive in managing their own health, leading to increased sales of OTC medications.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in Americas is the growing demand for natural and herbal remedies. Customers are seeking alternative and holistic approaches to healthcare, which has led to the popularity of products containing natural ingredients. This trend is driven by the perception that natural remedies are safer and have fewer side effects compared to conventional medications.Another trend in the market is the increasing availability of OTC pharmaceuticals through online platforms and e-commerce. Customers are embracing the convenience of purchasing medications online, as it allows them to compare prices, read reviews, and have the products delivered to their doorstep. This trend has been further accelerated by the COVID-19 pandemic, as customers are avoiding physical stores and opting for online shopping.

Local special circumstances: In the Americas, the OTC Pharmaceuticals market is influenced by local regulations and healthcare systems. Each country in the region has its own set of rules and regulations governing the sale and distribution of OTC medications. For example, in some countries, certain medications may require a prescription while in others they can be purchased directly from pharmacies. These variations in regulations impact the availability and accessibility of OTC pharmaceuticals in different countries.

Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals market in Americas is also influenced by underlying macroeconomic factors. Factors such as population growth, increasing disposable income, and urbanization contribute to the expansion of the market. As the population in the region continues to grow and urbanize, there is a greater demand for healthcare products and services, including OTC pharmaceuticals. Rising disposable income levels also enable customers to afford these products and contribute to the market growth.In conclusion, the Other OTC Pharmaceuticals market in Americas is witnessing growth due to changing customer preferences, including the demand for natural and herbal remedies, and the increasing availability of OTC medications through online platforms. Local regulations and healthcare systems also play a role in shaping the market dynamics. Additionally, underlying macroeconomic factors such as population growth and increasing disposable income contribute to the expansion 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.