Market Insights Health OTC Pharmaceuticals

Other OTC Pharmaceuticals - Lebanon

Lebanon

In Lebanon, the revenue generated in the Other OTC Pharmaceuticals market amounted to US$74.47m in 2024.
It is projected that this market will experience an annual growth rate of 0.47% (CAGR 2024-2029).
When compared globally, the in the United States leads in terms of revenue generation, reaching US$7,171.00m in 2024.
Taking into account the total population, the per person revenue in Lebanon's Other OTC Pharmaceuticals market was US$14.27 in 2024.
Lebanon's demand for natural and alternative remedies in the Other OTC Pharmaceuticals market is steadily increasing.

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

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Analyst Opinion

The Other OTC Pharmaceuticals market in Lebanon is experiencing steady growth due to various factors.

Customer preferences: Lebanese consumers have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several reasons. Firstly, the convenience factor plays a significant role. OTC medications are easily accessible and do not require a prescription, allowing consumers to quickly and easily address common health concerns. Additionally, the affordability of these products is appealing to many Lebanese consumers, especially in a country where healthcare costs can be high.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in Lebanon is the increasing demand for natural and herbal remedies. Lebanese consumers are becoming more health-conscious and are seeking alternative treatments that are perceived to be safer and have fewer side effects. This trend aligns with the global shift towards natural and organic products, indicating a growing awareness of the potential benefits of these remedies. As a result, there has been a rise in the availability and popularity of natural OTC products in Lebanon.Another trend in the market is the growing popularity of online pharmacies. Lebanese consumers are increasingly turning to online platforms to purchase OTC pharmaceuticals due to the convenience and ease of use. This trend has been accelerated by the COVID-19 pandemic, as consumers have sought to minimize physical contact and avoid crowded places. Online pharmacies offer a wide range of products, competitive prices, and the convenience of doorstep delivery, making them an attractive option for Lebanese consumers.

Local special circumstances: Lebanon has a well-established pharmaceutical industry, which has contributed to the growth of the Other OTC Pharmaceuticals market. The country has a strong regulatory framework and a well-developed distribution network, ensuring the availability of a wide range of OTC products. Additionally, Lebanon has a relatively high literacy rate, which enables consumers to make informed decisions about their healthcare needs and understand the benefits of OTC medications.

Underlying macroeconomic factors: Lebanon's healthcare sector has faced significant challenges in recent years due to political and economic instability. However, the Other OTC Pharmaceuticals market has remained resilient. This can be attributed to the fact that OTC products are considered essential items and are less affected by fluctuations in consumer spending. Additionally, the affordability of these products makes them a viable option for consumers even during times of economic uncertainty.In conclusion, the Other OTC Pharmaceuticals market in Lebanon is growing steadily due to customer preferences for convenience and affordability, as well as the increasing demand for natural remedies. The rise of online pharmacies and the country's well-established pharmaceutical industry have also contributed to the market's growth. Despite the challenges faced by Lebanon's healthcare sector, the OTC market has remained resilient, driven by the essential nature of these products and their affordability.

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.