OTC Products - Poland

Poland

The OTC Products market in Poland is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$9.74bn złoty by 2024.
This growth is anticipated to continue with an annual growth rate of 3.77% between 2024 and 2029, resulting in a market volume of US$11.72bn złoty by 2029.
When compared globally, it is noteworthy that China is expected to generate the highest revenue in the OTC Products market, reaching a staggering US$74.91bn złoty by 2024.
This demonstrates the significant market potential China.
Taking into account the population figures, the per person revenue generated in the OTC Products market in Poland is projected to be US$242.30 złoty in 2024.
This highlights the potential purchasing power of the population and the importance of this market in the country.
Poland's OTC market is witnessing a surge in demand for herbal supplements as consumers prioritize natural and alternative remedies.

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

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Analyst Opinion

The OTC Products (Pharmacies) market in Poland has experienced significant growth in recent years, driven by changing customer preferences and increasing demand for self-medication options.

Customer preferences: Polish consumers have shown a growing preference for OTC products, as they offer convenience and accessibility without the need for a prescription. With busy lifestyles and limited access to healthcare professionals, many consumers are turning to pharmacies to obtain medications for common ailments. Furthermore, the increasing awareness of preventive healthcare and the desire for quick relief from minor ailments have also contributed to the popularity of OTC products.

Trends in the market: One of the key trends in the OTC Products (Pharmacies) market in Poland is the growing demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of conventional medications and are seeking alternative options. This has led to an increase in the availability and variety of natural and herbal OTC products in pharmacies. Another trend is the expansion of online pharmacies, which offer convenience and a wider range of products to consumers. The ease of ordering medications online and having them delivered to their doorstep has attracted a significant number of customers. Online pharmacies also provide access to a broader range of OTC products that may not be available in traditional brick-and-mortar pharmacies.

Local special circumstances: Poland has a well-developed pharmacy network, with pharmacies being easily accessible in both urban and rural areas. The presence of pharmacies in various locations ensures that consumers have easy access to OTC products. Additionally, the high level of competition among pharmacies has led to competitive pricing and promotions, making OTC products more affordable for consumers. Furthermore, the Polish government has implemented regulations to ensure the safety and quality of OTC products. This has increased consumer confidence in purchasing these products from pharmacies, as they can trust that the products meet the necessary standards.

Underlying macroeconomic factors: The growing OTC Products (Pharmacies) market in Poland is also influenced by macroeconomic factors such as the increasing disposable income of consumers and the overall economic stability of the country. As consumers have more discretionary income, they are more willing to spend on healthcare products, including OTC medications. Additionally, the stability of the economy provides a favorable environment for businesses to invest in the OTC market and expand their product offerings. In conclusion, the OTC Products (Pharmacies) market in Poland is experiencing growth due to changing customer preferences, including the demand for natural and herbal remedies, as well as the convenience of online pharmacies. The well-developed pharmacy network, competitive pricing, and government regulations also contribute to the market's expansion. The increasing disposable income of consumers and the overall economic stability of Poland further support the growth of the OTC market.

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.