Other OTC Pharmaceuticals - Angola

Angola

Highlights

The revenue generated in the Other OTC Pharmaceuticals market in Angola amounts to US$15.86m in 2024.
It is projected to experience an annual growth rate of 1.31% (CAGR 2024-2029).
In comparison to other countries, the United States generates the highest revenue with US$7.17bn in 2024.
When considering the total population, per person revenues of US$0.42 are generated in Angola in 2024.
Angola's Other OTC Pharmaceuticals market is witnessing a surge in demand for traditional herbal remedies due to cultural beliefs and limited access to modern healthcare.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals market in Angola is experiencing steady growth due to increasing customer preferences for self-medication, rising healthcare awareness, and favorable macroeconomic factors.

Customer preferences: Angolan consumers are increasingly opting for over-the-counter (OTC) pharmaceutical products for self-medication purposes. This trend can be attributed to the convenience and accessibility of OTC drugs, as they can be purchased without a prescription. Additionally, the growing healthcare awareness among consumers is driving the demand for OTC pharmaceuticals, as people are becoming more proactive in managing their health and seeking quick remedies for common ailments.

Trends in the market: The Other OTC Pharmaceuticals market in Angola is witnessing several key trends. Firstly, there is a growing demand for pain relief medications, such as analgesics and anti-inflammatory drugs, as individuals seek relief from common ailments such as headaches, muscle aches, and joint pain. Secondly, there is an increasing demand for digestive health products, including antacids and laxatives, as consumers look for remedies to alleviate gastrointestinal discomfort. Thirdly, there is a rising trend of herbal and natural OTC products, as individuals prefer alternative and holistic remedies for their health concerns.

Local special circumstances: Angola has a unique market landscape that influences the development of the Other OTC Pharmaceuticals market. The country has a large rural population with limited access to healthcare facilities, which drives the demand for OTC products as a primary means of self-medication. Additionally, the presence of a diverse range of ethnic groups in Angola contributes to the demand for specific OTC products that cater to their cultural and traditional healthcare practices.

Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals market in Angola is supported by favorable macroeconomic factors. The country has been experiencing steady economic growth, which has resulted in a rise in disposable income among the population. This increased purchasing power enables consumers to afford OTC pharmaceutical products. Furthermore, the government's efforts to improve healthcare infrastructure and promote healthcare awareness have also contributed to the growth of the OTC market in Angola.In conclusion, the Other OTC Pharmaceuticals market in Angola is witnessing growth due to increasing customer preferences for self-medication, rising healthcare awareness, and favorable macroeconomic factors. The demand for pain relief medications, digestive health products, and herbal/natural remedies is driving the market. The unique market landscape in Angola, with its rural population and diverse ethnic groups, further influences the development of the OTC market. The country's steady economic growth and government initiatives to improve healthcare infrastructure also contribute to the market's growth.

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.