OTC Products - Northern Africa

Northern Africa

In the Northern Africa region, the projected revenue for the OTC Products market is estimated to reach US$9,812.00m in 2024.
This market is expected to display an annual growth rate of 4.78% from 2024 to 2029, resulting in a market volume of US$12,390.00m by 2029.
When compared to other countries globally, China is forecasted to generate the highest revenue, amounting to US$74.91bn in 2024.
In terms of per person revenues, the figure for Northern Africa in 2024 stands at US$37.61.
The demand for OTC products in Northern Africa is steadily increasing, driven by a growing middle class and rising health consciousness.

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

Market

Region

Region comparison

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Analyst Opinion

The OTC Products (Pharmacies) market in Northern Africa is experiencing significant growth and development. Customer preferences in the OTC Products (Pharmacies) market in Northern Africa are shifting towards a greater demand for convenience and accessibility. Consumers are increasingly seeking products that they can purchase without a prescription, allowing them to self-medicate and manage their own health conditions. This trend is driven by the busy lifestyles of many individuals in the region, who are looking for quick and easy solutions to common health issues. In addition, there is a growing awareness and interest in preventive healthcare, with consumers actively seeking out OTC products that can help them maintain their overall well-being. Trends in the OTC Products (Pharmacies) market in Northern Africa are being shaped by several factors. One key trend is the increasing availability and variety of OTC products in pharmacies. Pharmacies are expanding their product offerings to meet the growing demand from consumers, with a wider range of options available for common health conditions such as cold and flu, allergies, and pain relief. This trend is also driven by the rising number of pharmacies in the region, as well as the growing number of international pharmacy chains entering the market. Another trend in the market is the growing popularity of herbal and natural remedies. Consumers in Northern Africa are increasingly turning to traditional and natural remedies for their health needs, seeking alternatives to synthetic medications. This trend is supported by the rich herbal traditions in the region and the cultural preference for natural remedies. As a result, pharmacies are expanding their selection of herbal and natural products to cater to this growing demand. Local special circumstances in Northern Africa are also influencing the development of the OTC Products (Pharmacies) market. One significant factor is the high prevalence of chronic diseases in the region, such as diabetes and cardiovascular diseases. This has led to a greater need for OTC products that can help individuals manage their chronic conditions and prevent complications. Pharmacies are playing a crucial role in providing access to these products and supporting individuals in their self-care efforts. Underlying macroeconomic factors, such as population growth and urbanization, are also driving the development of the OTC Products (Pharmacies) market in Northern Africa. The region has a rapidly growing population, with a large proportion of young individuals who are becoming increasingly health-conscious. Urbanization is also contributing to the growth of the market, as more people move to cities and have access to a wider range of healthcare services, including pharmacies. These factors are creating a favorable environment for the expansion of the OTC Products (Pharmacies) market in Northern Africa.

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.