OTC Products - Sudan

Sudan

in Sudan, a country in northeastern Africa, is expected to witness significant growth in the OTC Products market.
According to projections, the revenue in this market is projected to reach US$50.21m in 2024.
This indicates a promising outlook for the OTC Products market industry in Sudan.
Furthermore, it is estimated that the revenue will experience a compound annual growth rate (CAGR) of �% between 2024 and 2029.
This growth rate suggests a positive trend in the market, which is likely to result in a market volume of US$-55.16m by 2029.
When comparing Sudan's revenue in the OTC Products market to other countries globally, it is important to note that China is the leading generator of revenue, reaching a staggering US$74.91bn in 2024.
This highlights the substantial difference in market size between in Sudan and China.
To provide a clearer perspective, it is also essential to consider the per person revenues in Sudan.
In 2024, per person revenues amount to US$1.02.
This metric helps to gauge the economic impact and the level of market penetration within the population.
Sudan's OTC products market is experiencing a surge in demand for traditional herbal remedies due to their cultural significance.

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

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Analyst Opinion

The OTC Products (Pharmacies) market in Sudan has been experiencing significant growth in recent years. Customer preferences have played a crucial role in shaping this trend, as well as local special circumstances and underlying macroeconomic factors.

Customer preferences: Customers in Sudan have shown a growing preference for over-the-counter (OTC) products in pharmacies. This can be attributed to several factors. Firstly, there is a lack of access to healthcare facilities in many parts of the country, making pharmacies the primary source of medical advice and treatment for a large portion of the population. Secondly, OTC products are often more affordable and convenient compared to prescription medications, which require a visit to a doctor. Lastly, there is a growing awareness and acceptance of self-medication among Sudanese consumers, leading to an increased demand for OTC products.

Trends in the market: One major trend in the OTC Products (Pharmacies) market in Sudan is the increasing availability and variety of products. Pharmacies are expanding their product offerings to cater to the diverse needs of customers. This includes a wide range of medications, supplements, and personal care products. Additionally, there is a growing trend of pharmacies offering specialized services such as diabetes management, weight loss programs, and smoking cessation support. These trends indicate a shift towards a more holistic approach to healthcare in Sudan.

Local special circumstances: Sudan has a unique healthcare landscape, with a large rural population and limited access to healthcare facilities. This has led to a reliance on pharmacies as the primary point of care for many Sudanese people. The decentralized nature of the healthcare system in Sudan, with a lack of centralized regulation and oversight, has also contributed to the growth of the OTC Products (Pharmacies) market. Pharmacies have become a trusted source of healthcare information and products for consumers, filling the gap left by the limited availability of healthcare services in the country.

Underlying macroeconomic factors: Sudan has experienced economic challenges in recent years, including high inflation and a weak currency. These factors have impacted the healthcare sector, including the OTC Products (Pharmacies) market. The affordability of OTC products has made them an attractive option for consumers, especially as the cost of prescription medications has increased. Additionally, the weak currency has made it more difficult for Sudanese people to access healthcare services, leading to a greater reliance on self-medication and OTC products. In conclusion, the OTC Products (Pharmacies) market in Sudan is developing due to customer preferences, local special circumstances, and underlying macroeconomic factors. Customers in Sudan prefer the convenience and affordability of OTC products, while the limited access to healthcare facilities and decentralized healthcare system have contributed to the growth of the market. The economic challenges in Sudan have further fueled the demand for OTC products as a more accessible healthcare option.

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.