OTC Products - Algeria

Algeria

The revenue in the OTC Products market in Algeria is projected to reach US$1,064.00m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 3.21%, resulting in a market volume of US$1,246.00m by 2029.
In global comparison, China is expected to generate the most revenue with US$74.91bn in 2024.
In relation to total population figures, per person revenues of US$22.98 are generated in Algeria in 2024.
Algeria has seen a growing demand for OTC products due to the increasing awareness and accessibility of healthcare services in the country.

Key regions: Europe, Australia, United Kingdom, Germany, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The OTC Products (Pharmacies) market in Algeria has been experiencing steady growth in recent years.

Customer preferences: Algerian consumers have shown a growing preference for over-the-counter (OTC) products in pharmacies. This can be attributed to several factors, including the convenience of purchasing these products without a prescription, the increasing awareness and interest in self-care, and the trust placed in the quality and efficacy of OTC products available in pharmacies.

Trends in the market: One of the key trends in the OTC Products (Pharmacies) market in Algeria is the rising demand for vitamins, supplements, and herbal remedies. This can be attributed to the growing interest in preventive healthcare and natural remedies among Algerian consumers. Additionally, there has been an increasing focus on personal hygiene and skincare products, with consumers seeking out OTC options for their daily skincare routines.

Local special circumstances: The Algerian market is characterized by a high level of government regulation and control over the pharmaceutical sector. This has led to a limited range of OTC products available in pharmacies, as the government closely monitors and approves the products that can be sold without a prescription. This has created a unique market environment where certain OTC products may be more popular than others due to their availability and approval by the authorities.

Underlying macroeconomic factors: The growth of the OTC Products (Pharmacies) market in Algeria is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among Algerian consumers. This has allowed them to allocate more of their budget towards healthcare and wellness products, including OTC products. Additionally, the expanding middle class in Algeria has contributed to the growth of the market, as this segment of the population has greater purchasing power and is more likely to spend on OTC products. In conclusion, the OTC Products (Pharmacies) market in Algeria is developing due to customer preferences for convenient and accessible healthcare products, such as vitamins, supplements, and skincare items. The local special circumstances, including government regulation and control, play a role in shaping the market dynamics. The underlying macroeconomic factors, such as economic growth and the expanding middle class, also contribute to the growth of the market. Overall, the OTC Products (Pharmacies) market in Algeria is expected to continue its upward trajectory in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.