OTC Pharmaceuticals - Africa

Africa

Revenue in the OTC Pharmaceuticals market amounts to US$8.16bn in 2024. The market is expected to grow annually by 7.56% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$2.33bn 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$6.28 are generated in 2024.
In the OTC Pharmaceuticals market, 6.4% 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

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in Africa is experiencing significant growth and development.

Customer preferences: Customers in Africa have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the increasing awareness of self-medication and the convenience of purchasing medication without a prescription. Additionally, the affordability of OTC drugs compared to prescription medications has also contributed to the rising demand.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Africa is the expansion of retail pharmacy chains. These chains are opening more stores across the region, making OTC medications easily accessible to a larger population. This trend is driven by the growing middle class and urbanization, which has led to an increase in disposable income and a higher demand for healthcare products. Another trend in the market is the growing popularity of herbal and traditional remedies. Many African consumers have a long-standing cultural belief in the efficacy of herbal medicines, and this has translated into a preference for OTC herbal remedies. As a result, pharmaceutical companies are increasingly introducing herbal OTC products to cater to this demand.

Local special circumstances: Africa is a diverse continent with varying healthcare systems and regulations. In some countries, the regulatory environment for OTC medications is well-established, allowing for easier access and distribution. However, in other countries, regulations may be more stringent, requiring stricter controls on the sale and distribution of OTC pharmaceuticals. These differences in regulations can impact the availability and range of OTC products in different African countries.

Underlying macroeconomic factors: The economic growth in many African countries has contributed to the development of the OTC Pharmaceuticals market. As disposable incomes rise, consumers have more purchasing power to buy OTC medications. Additionally, the increasing urbanization and population growth in Africa have also played a role in the market's expansion. With more people living in cities, there is a higher demand for healthcare products, including OTC pharmaceuticals. In conclusion, the OTC Pharmaceuticals market in Africa is experiencing growth and development due to customer preferences for self-medication, the expansion of retail pharmacy chains, the popularity of herbal remedies, and underlying macroeconomic factors such as economic growth and urbanization. However, it is important to consider the local special circumstances and regulatory environments in each African country, as they can impact the availability and range of OTC pharmaceutical products.

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.