Other OTC Pharmaceuticals - Malta

Malta

Highlights

In Malta, the revenue generated in the market Other OTC Pharmaceuticals amounted to US$51.59m in 2024.
It is projected to experience an annual growth rate of 1.81% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue, reaching US$7.17bn in 2024.
In terms of per person revenues, US$96.11 is generated in 2024.
Malta's OTC Pharmaceuticals market is seeing a rise in demand for natural remedies and traditional herbal medicines.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals market in Malta has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.Customer preferences in Malta have played a significant role in driving the growth of the Other OTC Pharmaceuticals market. Consumers in Malta have shown a growing interest in self-care and taking a proactive approach to managing their health. This has led to an increased demand for over-the-counter pharmaceutical products that can be easily accessed without a prescription. Additionally, consumers in Malta have shown a preference for products that are natural and organic, leading to an increased demand for herbal and homeopathic remedies.Trends in the market have also contributed to the growth of the Other OTC Pharmaceuticals market in Malta. One notable trend is the increasing availability and accessibility of these products. Pharmacies and supermarkets in Malta have expanded their offerings of over-the-counter pharmaceuticals, making it easier for consumers to purchase these products. Furthermore, advancements in technology have made it possible for consumers to purchase these products online, further increasing accessibility.Local special circumstances in Malta have also influenced the development of the Other OTC Pharmaceuticals market. Malta has a relatively small population and limited healthcare resources, which has led to a greater reliance on self-care and over-the-counter pharmaceuticals. Additionally, the country has a high proportion of elderly residents who may require ongoing medication for chronic conditions. This has created a growing market for over-the-counter pharmaceuticals that can help manage these conditions.Underlying macroeconomic factors have also contributed to the growth of the Other OTC Pharmaceuticals market in Malta. The country has experienced a stable economy and a relatively high standard of living, which has allowed consumers to allocate a greater portion of their disposable income towards healthcare products. Additionally, the government in Malta has implemented policies to promote self-care and reduce the burden on the healthcare system, which has further fueled the growth of the Other OTC Pharmaceuticals market.In conclusion, the Other OTC Pharmaceuticals market in Malta has been growing steadily due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Consumers in Malta have shown a preference for self-care and natural remedies, leading to an increased demand for over-the-counter pharmaceuticals. The market has also benefited from increased availability and accessibility of these products, as well as the country's reliance on self-care and limited healthcare resources. Furthermore, the stable economy and government policies promoting self-care have contributed to the growth of the market.

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.