OTC Pharmaceuticals - Sweden

Sweden

In 2024, the revenue in the OTC Pharmaceuticals market in Sweden amounts to US$634.70m SEK.
This market is expected to grow annually by 3.73% (CAGR 2024-2029).
The largest market within this market is the Analgesics market, which has a market volume of US$229.90m SEK in 2024.
When compared globally, the in the United States generates the highest revenue, with US$41,240.00m SEK in 2024.
In terms of per person revenues, in Sweden generates US$59.47 SEK in 2024.
By 2024, online sales are projected to account for 19.34% of the total revenue in the OTC Pharmaceuticals market.
The demand for OTC Pharmaceuticals in Sweden is driven by a strong emphasis on self-care and a high level of health consciousness among the population.

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.
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Analyst Opinion

The OTC Pharmaceuticals market in Sweden has been experiencing steady growth in recent years, driven by several factors. Customer preferences for self-care and convenience have played a significant role in shaping the market trends. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market.Customer preferences in Sweden have shifted towards self-care and taking control of one's health. This has led to an increased demand for over-the-counter pharmaceutical products, as consumers seek to address minor health issues independently. The convenience factor also plays a role, as OTC medications are readily available in pharmacies and supermarkets without the need for a prescription. Furthermore, the growing awareness of the potential side effects and costs associated with prescription medications has further fueled the demand for OTC alternatives.Trends in the OTC Pharmaceuticals market in Sweden reflect the global market, with a focus on preventive healthcare and wellness products. There is a growing demand for vitamins, supplements, and herbal remedies, as consumers seek to maintain their overall health and well-being. Additionally, there is a rising trend of natural and organic OTC products, driven by the increasing preference for sustainable and eco-friendly options.Local special circumstances in Sweden have also influenced the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system that emphasizes preventive care and patient education. This has created a favorable environment for the growth of the OTC market, as consumers are encouraged to take an active role in managing their health. Additionally, Sweden has a high level of digitalization and internet penetration, which has facilitated the online sale of OTC products and contributed to market growth.Underlying macroeconomic factors, such as the overall economic stability and high disposable income levels in Sweden, have also played a role in the development of the OTC Pharmaceuticals market. The strong economy has enabled consumers to afford OTC products and invest in their health. Furthermore, the aging population in Sweden has increased the demand for OTC medications, as older individuals seek to manage common health issues associated with aging.In conclusion, the OTC Pharmaceuticals market in Sweden is developing in response to customer preferences for self-care and convenience. The market trends reflect a focus on preventive healthcare and wellness products, with a growing demand for natural and organic options. Local special circumstances, such as the emphasis on preventive care and digitalization, have also contributed to market growth. Additionally, underlying macroeconomic factors, including economic stability and high disposable income levels, have further fueled 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.