Key regions: United States, Brazil, Europe, Canada, United Kingdom
The Other OTC Pharmaceuticals market in United Arab Emirates is experiencing steady growth due to several factors.
Customer preferences: Customers in the United Arab Emirates have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to the convenience and accessibility of these products, as well as the increasing awareness about self-care and preventive healthcare. Customers are increasingly seeking OTC medications for common ailments such as cough, cold, and allergies, as well as for minor pain relief and digestive issues. The demand for OTC pharmaceuticals is also driven by the desire to avoid long waiting times at healthcare facilities and the associated costs.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in United Arab Emirates is the growing popularity of herbal and natural remedies. Customers are increasingly seeking products that are perceived to be more natural and have fewer side effects. This trend is in line with the global shift towards natural and alternative medicines. As a result, there has been an increase in the availability of herbal and natural OTC pharmaceutical products in the market.Another trend in the market is the rise of e-commerce and online sales of OTC pharmaceutical products. Customers are increasingly turning to online platforms to purchase their healthcare products, including OTC medications. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wide range of products. Online platforms also provide customers with the opportunity to compare prices and read reviews before making a purchase.
Local special circumstances: The United Arab Emirates has a rapidly growing population, which is contributing to the increasing demand for OTC pharmaceutical products. The country is also witnessing a rise in lifestyle-related diseases such as obesity, diabetes, and hypertension. This has led to an increased need for OTC medications for managing these conditions. Additionally, the high prevalence of allergies in the region has also contributed to the demand for OTC allergy medications.The United Arab Emirates has a well-developed healthcare infrastructure, with a strong emphasis on preventive healthcare. The government has implemented various initiatives to promote self-care and reduce the burden on healthcare facilities. This has created a favorable environment for the growth of the OTC pharmaceutical market.
Underlying macroeconomic factors: The United Arab Emirates has a strong economy, with high disposable incomes and a growing middle class. This has led to an increase in healthcare spending, including on OTC pharmaceutical products. The government has also implemented policies to promote the growth of the healthcare sector, which includes the OTC pharmaceutical market.In conclusion, the Other OTC Pharmaceuticals market in United Arab Emirates is experiencing steady growth due to customer preferences for convenience and accessibility, the popularity of herbal and natural remedies, the rise of e-commerce, and the local special circumstances such as a growing population and a focus on preventive healthcare. The underlying macroeconomic factors, including a strong economy and high healthcare spending, are also contributing 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.
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