Market Insights Health OTC Pharmaceuticals

Other OTC Pharmaceuticals - Egypt

Egypt

In Egypt, the revenue generated in the market Other OTC Pharmaceuticals amounted to US$27.63m in 2024.
It is projected that this market will experience an annual growth rate of 3.57% (CAGR 2024-2029).
When comparing it globally, the in the United States generates the highest revenue with US$7,171.00m in 2024.
On a per person basis, the revenue generated in Egypt amounts to US$0.24 in 2024.
Egypt's OTC Pharmaceuticals market is experiencing a surge in demand for alternative and herbal remedies.

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

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Analyst Opinion

The Other OTC Pharmaceuticals market in Egypt has been experiencing significant growth in recent years.

Customer preferences: Egyptian consumers have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors. Firstly, OTC medications are easily accessible and do not require a prescription, which makes them convenient for consumers who may not have the time or resources to visit a doctor. Secondly, OTC medications are often more affordable than prescription drugs, making them a more attractive option for cost-conscious consumers. Finally, there is a growing awareness and acceptance of self-medication among Egyptian consumers, who are increasingly taking responsibility for their own healthcare.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in Egypt is the increasing demand for dietary supplements. Egyptian consumers are becoming more health-conscious and are seeking products that can help improve their overall well-being. This has led to a surge in the sales of dietary supplements, such as vitamins, minerals, and herbal products. Additionally, there is a growing demand for OTC pain relievers and cold and flu remedies, as consumers look for quick and effective relief from common ailments.

Local special circumstances: Egypt has a large and growing population, which presents a significant market opportunity for OTC pharmaceutical companies. The country's population is also relatively young, with a large proportion of the population under the age of 30. This demographic trend is driving demand for OTC medications, as younger consumers are more likely to engage in self-care and seek out OTC remedies for common health issues.

Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals market in Egypt is also influenced by several macroeconomic factors. Firstly, the country's economy has been steadily growing in recent years, leading to an increase in disposable income levels. This has allowed consumers to spend more on healthcare products, including OTC medications. Secondly, the government has implemented healthcare reforms aimed at improving access to healthcare services, including OTC medications. These reforms have contributed to the growth of the OTC pharmaceutical market in Egypt by making these products more widely available to consumers.In conclusion, the Other OTC Pharmaceuticals market in Egypt is experiencing significant growth due to the preferences of Egyptian consumers for easily accessible and affordable healthcare products. The market is also being driven by trends such as the increasing demand for dietary supplements and the growing acceptance of self-medication. Additionally, the country's large and young population, along with favorable macroeconomic factors, are contributing to the growth 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.