Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.
Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.
Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
The OTC Pharmaceuticals market in Saudi Arabia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging market trends, and local special circumstances. Customer preferences in the OTC Pharmaceuticals market in Saudi Arabia have shifted towards self-medication and convenience. With increasing awareness and access to information, consumers are becoming more proactive in managing their own health. They are seeking over-the-counter products that offer quick relief from common ailments such as cold and flu, allergies, and pain. Additionally, consumers are looking for products that are easy to use and readily available without a prescription. This shift in customer preferences has led to an increased demand for OTC Pharmaceuticals in Saudi Arabia.Trends in the OTC Pharmaceuticals market in Saudi Arabia are aligned with global market trends. There is a growing focus on natural and herbal remedies, as consumers are becoming more conscious of their health and are seeking alternative options to traditional medicines. This trend is driven by the perception that natural remedies are safer and have fewer side effects. As a result, there has been an increase in the availability and sales of OTC herbal and natural products in Saudi Arabia.Another trend in the market is the rise of e-commerce and online sales channels. With the increasing penetration of smartphones and internet connectivity, consumers are increasingly turning to online platforms to purchase OTC Pharmaceuticals. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wider range of products compared to traditional brick-and-mortar stores. Online sales of OTC Pharmaceuticals are expected to continue growing in Saudi Arabia, as more consumers embrace e-commerce.Local special circumstances in Saudi Arabia also contribute to the development of the OTC Pharmaceuticals market. The country has a large population, with a significant proportion of young and tech-savvy individuals. This demographic profile presents a lucrative market for OTC Pharmaceuticals, as young consumers are more likely to embrace self-medication and online shopping. Additionally, the government has been actively promoting the development of the healthcare sector, including the OTC Pharmaceuticals market, through various initiatives and policies. This support from the government has created a favorable business environment for OTC Pharmaceuticals companies in Saudi Arabia.Underlying macroeconomic factors, such as a growing economy and increasing disposable income, also play a role in the development of the OTC Pharmaceuticals market in Saudi Arabia. As the country's economy continues to grow, consumers have more purchasing power to spend on healthcare products, including OTC Pharmaceuticals. This economic growth, coupled with a young and growing population, creates a positive outlook for the market.In conclusion, the OTC Pharmaceuticals market in Saudi Arabia is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication and convenience, the focus on natural and herbal remedies, the rise of e-commerce, the demographic profile of the population, government support, and economic growth all contribute to the growth of the market.
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights