Other OTC Pharmaceuticals (Pharmacies) - Indonesia

Indonesia

Highlights

Revenue in the Other OTC Pharmaceuticals market is projected to reach US$89.46m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.17%, resulting in a market volume of US$99.58m by 2029.
In global comparison, most revenue will be generated United States (US$4.98bn in 2024).
In relation to total population figures, per person revenues of US$0.32 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals (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) pharmaceutical products, which can be purchased without a prescription from pharmacies. This is due to several factors, including the convenience of self-medication and the increasing awareness of the benefits of OTC medications for minor ailments. Additionally, the relatively affordable prices of OTC products compared to prescription drugs make them an attractive option for many consumers.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in Indonesia is the increasing demand for vitamins and dietary supplements. As consumers become more health-conscious, they are seeking products that can help them maintain their well-being. Vitamins and dietary supplements are seen as a way to supplement their diets and address specific health concerns. This trend is driven by a combination of factors, including rising disposable incomes, changing lifestyles, and a growing aging population. Another trend in the market is the growing popularity of herbal and traditional medicine products. Indonesian consumers have a long-standing tradition of using herbal remedies for various health issues. This trend has been further fueled by the increasing availability and marketing of herbal and traditional medicine products by both domestic and international companies. Consumers are attracted to these products due to their perceived natural and holistic benefits.

Local special circumstances: Indonesia has a large population, which presents both opportunities and challenges for the Other OTC Pharmaceuticals market. On one hand, the large consumer base provides a significant market for OTC products. On the other hand, reaching and serving this vast population can be logistically challenging, especially in remote areas. Pharmacies play a crucial role in ensuring the accessibility of OTC products to consumers across the country.

Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals market in Indonesia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in an expanding middle class with higher disposable incomes. This has led to increased spending on healthcare and wellness products, including OTC pharmaceuticals. In conclusion, the Other OTC Pharmaceuticals market in Indonesia is developing due to customer preferences for convenient and affordable healthcare options, such as OTC products. The market is driven by trends such as the demand for vitamins and dietary supplements, as well as the popularity of herbal and traditional medicine products. The large population and steady economic growth in Indonesia provide a favorable environment for the growth of the OTC pharmaceutical market.

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.