OTC Pharmaceuticals - South Africa

South Africa

Revenue in the OTC Pharmaceuticals market for South Africa is projected to reach US$965.60m in 2024.
The market is expected to experience an annual growth rate of 4.06% (CAGR 2024-2029).
Among the various markets, the largest one is Cold & Cough Remedies, which is estimated to have a market volume of US$220.30m in 2024.
When compared globally, the in the United States generates the highest revenue in the OTC Pharmaceuticals market, amounting to US$41,240.00m in 2024.
In terms of per capita revenue, in South Africa generates US$15.82 per person in 2024.
As for online sales, it is predicted that 21.43% of the total revenue in the OTC Pharmaceuticals market will be generated through online channels by 2024.
South Africa's OTC Pharmaceuticals market is witnessing a surge in demand for traditional herbal remedies due to their cultural significance and perceived effectiveness.

Key regions: United States, China, Germany, Japan, Europe

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.
For more information on the data displayed, use the info button next to the boxes.

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Analyst Opinion

The OTC Pharmaceuticals market in South Africa has been experiencing steady growth in recent years. Customer preferences in the OTC Pharmaceuticals market in South Africa have been influenced by several factors. Firstly, there is a growing demand for self-medication and convenience among consumers. With busy lifestyles and limited access to healthcare professionals, many consumers are turning to OTC medications for minor ailments and common health issues. This trend is fueled by the availability of a wide range of OTC products in pharmacies and supermarkets, making it easier for consumers to find the products they need without a prescription.Another factor driving customer preferences in the OTC Pharmaceuticals market in South Africa is the increasing awareness and interest in natural and herbal remedies. Consumers are seeking alternative and holistic approaches to healthcare and are willing to try OTC products that are perceived as more natural and less chemically-based. This has led to the growth of herbal and homeopathic OTC products in the market.Trends in the OTC Pharmaceuticals market in South Africa include the rise of generic OTC medications. Generic medications offer a more affordable alternative to branded products, making them attractive to price-conscious consumers. The availability of generic OTC medications has increased competition in the market, leading to lower prices and greater accessibility for consumers.Another trend in the market is the increasing focus on preventive healthcare. Consumers are becoming more proactive in managing their health and are looking for OTC products that can help them prevent illnesses and maintain their well-being. This has led to the growth of OTC vitamins, supplements, and other preventive healthcare products in the market.Local special circumstances in the OTC Pharmaceuticals market in South Africa include the high prevalence of certain health conditions. South Africa has a high burden of diseases such as HIV/AIDS, malaria, and tuberculosis, which has created a demand for OTC products that can help manage these conditions. Additionally, the country has a large rural population with limited access to healthcare facilities, making OTC medications a vital source of healthcare for many individuals.Underlying macroeconomic factors that have contributed to the development of the OTC Pharmaceuticals market in South Africa include a growing middle class with increased disposable income. As more people have the means to afford healthcare products, the demand for OTC medications has risen. Additionally, the government has implemented policies to promote the use of generic medications and improve access to healthcare, further driving growth in the market.In conclusion, the OTC Pharmaceuticals market in South Africa is developing due to customer preferences for self-medication, convenience, and natural remedies. The market is also influenced by trends such as the rise of generic medications and the focus on preventive healthcare. Local special circumstances, such as the high prevalence of certain health conditions and limited access to healthcare facilities, contribute to the growth of the market. Underlying macroeconomic factors, including a growing middle class and government policies, further support the development of the market.

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.