Market Insights Health OTC Pharmaceuticals

Other OTC Pharmaceuticals - Qatar

Qatar

In 2024, the revenue generated in the Other OTC Pharmaceuticals market in Qatar amounts to US$33.38m.
It is projected that this market will experience an annual growth rate of 1.38% (CAGR 2024-2029).
When compared to global figures, the in the United States generates the highest revenue in this market, with US$7,171.00m in 2024.
In terms of per capita revenues, in 2024, each person in Qatar generates US$12.19.
The demand for Other OTC Pharmaceuticals in Qatar is driven by a growing awareness of self-care and a preference for non-prescription remedies.

Key regions: Europe, Germany, United States, Brazil, Australia

Market

Region

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Currency

Analyst Opinion

The Other OTC Pharmaceuticals market in Qatar is experiencing significant growth and development.

Customer preferences: Customers in Qatar are increasingly turning to over-the-counter (OTC) pharmaceuticals for their healthcare needs. This can be attributed to several factors, including the convenience of purchasing these products without a prescription, the relatively lower cost compared to prescription medications, and the increasing awareness and acceptance of self-medication. Additionally, the availability of a wide range of OTC pharmaceutical products in Qatar allows customers to find suitable options for their specific health concerns.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in Qatar is the rising demand for vitamins and dietary supplements. This can be attributed to the growing health consciousness among consumers, who are increasingly seeking ways to improve their overall well-being. The market is also witnessing an increase in the demand for pain relievers and cold and flu medications, as customers look for effective remedies for common ailments. Furthermore, there is a growing trend of customers opting for natural and herbal OTC products, as they perceive them to be safer and more sustainable.

Local special circumstances: Qatar has a rapidly growing population, with a significant proportion of expatriates. This diverse population brings with it a range of healthcare needs and preferences, contributing to the demand for a wide variety of OTC pharmaceuticals. Moreover, Qatar has a high prevalence of chronic diseases such as diabetes and cardiovascular conditions, which further drives the demand for OTC medications to manage these conditions. The country's healthcare system also plays a role in shaping the market, with the government focusing on promoting self-care and empowering individuals to take charge of their health.

Underlying macroeconomic factors: The growth and development of the Other OTC Pharmaceuticals market in Qatar can be attributed to several macroeconomic factors. Qatar has a high per capita income, which allows consumers to afford OTC medications. Additionally, the country has a robust healthcare infrastructure and a well-regulated pharmaceutical industry, ensuring the availability of quality OTC products. Furthermore, Qatar's strategic geographic location and its status as a major trading hub in the region facilitate the import and distribution of OTC pharmaceuticals from various global manufacturers.In conclusion, the Other OTC Pharmaceuticals market in Qatar is witnessing significant growth and development due to customer preferences for convenience, affordability, and self-medication. The market is characterized by a rising demand for vitamins and dietary supplements, pain relievers, and natural and herbal products. Qatar's diverse population, high prevalence of chronic diseases, and focus on self-care contribute to the market's growth. Additionally, the country's high per capita income, robust healthcare infrastructure, and strategic geographic location play a crucial role in driving the market forward.

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.