OTC Pharmaceuticals - Greece

Greece

Revenue in the OTC Pharmaceuticals market amounts to US$833.40m in 2024. The market is expected to grow annually by 2.62% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$351.80m in 2024.
In global comparison, most revenue is generated in the United States (US$41,240m in 2024).
In relation to total population figures, per person revenues of US$80.89 are generated in 2024.
In the OTC Pharmaceuticals market, 16.4% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Market

Region

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Currency

Analyst Opinion

The OTC Pharmaceuticals market in Greece has been experiencing steady growth in recent years. Customer preferences in the Greek OTC Pharmaceuticals market have been influenced by several factors.

Firstly, there is a growing trend towards self-medication among consumers, driven by increased awareness and access to information. Consumers are becoming more proactive in managing their own health and are seeking products that can help them treat common ailments without the need for a prescription. This has led to an increased demand for OTC pharmaceuticals in Greece.

Another customer preference in the Greek market is the preference for natural and herbal remedies. Greek consumers have a long history of using traditional herbal medicines, and this preference has continued into the modern era. Many consumers are seeking out OTC pharmaceuticals that contain natural ingredients and are perceived to be more holistic and gentle on the body.

Trends in the Greek OTC Pharmaceuticals market include the increasing availability of OTC products in pharmacies and supermarkets. This has made it easier for consumers to access these products and has contributed to the growth of the market. In addition, there has been a shift towards online purchasing of OTC pharmaceuticals, with many consumers opting to buy these products through e-commerce platforms.

This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. Local special circumstances in Greece have also influenced the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system, which includes a strong network of pharmacies.

This has made it easier for OTC pharmaceuticals to be distributed and has contributed to the growth of the market. Furthermore, Greece has a high prevalence of chronic diseases, such as diabetes and cardiovascular disease, which has increased the demand for OTC pharmaceuticals that can help manage these conditions. Underlying macroeconomic factors have also played a role in the development of the OTC Pharmaceuticals market in Greece.

The country has faced economic challenges in recent years, including a debt crisis and austerity measures. This has led to a decrease in public spending on healthcare and an increased reliance on OTC pharmaceuticals as a more affordable alternative to prescription medications. In conclusion, the OTC Pharmaceuticals market in Greece is experiencing growth due to customer preferences for self-medication, natural remedies, and increased availability of products.

Local special circumstances, such as the well-established healthcare system and high prevalence of chronic diseases, have also contributed to market development. The underlying macroeconomic factors, including economic challenges and decreased public spending on healthcare, have further shaped the market.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.