Other OTC Pharmaceuticals - Ireland

Ireland

Highlights

In Ireland, the revenue generated in the market Other OTC Pharmaceuticals amounted to US$86.63m in 2024.
It is projected to experience an annual growth rate of 1.10% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue in this market, reaching US$7.17bn in 2024.
In terms of per capita figures, in Ireland generates revenues of US$17.02 per person in 2024.
Ireland's Other OTC Pharmaceuticals market is witnessing a surge in demand for traditional herbal remedies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals market in Ireland has been experiencing steady growth in recent years, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in Ireland have played a significant role in the development of the Other OTC Pharmaceuticals market. Irish consumers have shown a growing preference for self-care and self-medication, seeking over-the-counter remedies for minor ailments and health issues. This preference can be attributed to factors such as convenience, cost-effectiveness, and a desire for greater control over their own healthcare. As a result, the demand for Other OTC Pharmaceuticals has been on the rise.Trends in the market have also contributed to the growth of the Other OTC Pharmaceuticals market in Ireland. One notable trend is the increasing popularity of natural and herbal remedies. Irish consumers are becoming more conscious of their health and are seeking out alternative treatment options that are perceived as more natural and holistic. This has led to a rise in the demand for natural and herbal OTC products, including supplements, vitamins, and herbal remedies.Another trend in the market is the growing focus on preventive healthcare. Irish consumers are taking proactive measures to maintain their health and prevent illnesses. This has led to an increased demand for OTC products that support overall wellness and address specific health concerns, such as immune support, digestive health, and stress management. As a result, the market for preventive healthcare products within the Other OTC Pharmaceuticals segment has been expanding.Local special circumstances in Ireland have also influenced the development of the Other OTC Pharmaceuticals market. The country has a well-established healthcare system that provides universal access to healthcare services. However, due to the high demand and limited resources, there can be long waiting times for non-emergency treatments. This has prompted many Irish consumers to turn to OTC remedies as a first-line option for managing their health conditions, further driving the growth of the market.Underlying macroeconomic factors have also played a role in the growth of the Other OTC Pharmaceuticals market in Ireland. The country has experienced a period of sustained economic growth, leading to increased disposable income and higher consumer spending. This has allowed Irish consumers to allocate more of their budget towards healthcare and wellness products, including Other OTC Pharmaceuticals.In conclusion, the Other OTC Pharmaceuticals market in Ireland is developing due to customer preferences for self-care and self-medication, trends such as the popularity of natural remedies and preventive healthcare, local special circumstances including long waiting times for non-emergency treatments, and underlying macroeconomic factors such as increased disposable income. The market is expected to continue growing as Irish consumers prioritize their health and seek accessible and cost-effective solutions for their healthcare needs.

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.