Market Insights Health OTC Pharmaceuticals

Other OTC Pharmaceuticals - LATAM

LATAM

In LATAM, the revenue generated in the Other OTC Pharmaceuticals market in 2024 amounts to US$2.80bn.
It is projected that this market will experience an annual growth rate of 1.48% (CAGR 2024-2028).
When compared globally, the in the United States generates the highest revenue in this market, reaching US$7,171.00m in 2024.
When considering the population figures, the per person revenue in LATAM is US$4.41 in 2024.
In LATAM, the Other OTC Pharmaceuticals market is experiencing a surge in demand due to the increasing focus on self-care and affordability.

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

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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.