Definition:
The OTC Products market includes products that are sold over the counter (OTC) in pharmacies, i.e., pharmaceuticals and other medical products as well as further items that are generally found in a pharmacy.
Additional information:
The market comprises revenue, revenue growth, and the online sales share. Revenues are generated through offline and online spending by (B2C) consumers and include VAT.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jun 2024
Source: Statista Market Insights
Most recent update: Jun 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
The OTC Products (Pharmacies) market in Indonesia has been experiencing significant growth in recent years.
Customer preferences: Indonesian consumers have shown a growing preference for over-the-counter (OTC) products, which can be purchased without a prescription from a healthcare professional. This trend is driven by several factors, including increased awareness and knowledge about self-care, convenience, and affordability. Consumers are increasingly seeking out OTC products for common ailments and minor health issues, such as cough and cold, pain relief, and digestive problems. Additionally, the rising middle class in Indonesia has led to increased disposable income, allowing consumers to spend more on healthcare products.
Trends in the market: One of the key trends in the OTC Products (Pharmacies) market in Indonesia is the growing popularity of herbal and traditional remedies. Indonesian consumers have a long-standing tradition of using natural remedies for various health issues, and this preference is reflected in the demand for herbal and traditional OTC products. These products are perceived as being more natural and less likely to have side effects compared to pharmaceutical drugs. Another trend in the market is the increasing availability of OTC products in modern retail channels. Pharmacies are no longer the only place where consumers can purchase OTC products. Supermarkets, convenience stores, and online platforms are also offering a wide range of OTC products, making them more accessible to consumers. This trend is driven by the convenience and ease of shopping in these modern retail channels.
Local special circumstances: Indonesia is a large and diverse country with a population of over 270 million people. The country is made up of thousands of islands, which presents unique challenges in terms of distribution and access to healthcare products. Many remote areas in Indonesia have limited access to healthcare facilities, making OTC products an important option for self-care. Additionally, the cultural diversity in Indonesia contributes to the demand for a wide range of OTC products that cater to different traditional practices and beliefs.
Underlying macroeconomic factors: The growth of the OTC Products (Pharmacies) market in Indonesia is supported by favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. The government has also implemented policies to promote the development of the healthcare sector, including the expansion of healthcare infrastructure and the improvement of healthcare services. These factors create a conducive environment for the growth of the OTC Products (Pharmacies) market in Indonesia. In conclusion, the OTC Products (Pharmacies) market in Indonesia is developing due to customer preferences for self-care, the popularity of herbal and traditional remedies, the increasing availability of OTC products in modern retail channels, local special circumstances such as limited access to healthcare facilities in remote areas, and favorable macroeconomic factors.
Most recent update: Jun 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights