OTC Pharmaceuticals - APAC

APAC

Revenue in the OTC Pharmaceuticals market amounts to US$71.32bn in 2024. The market is expected to grow annually by 5.82% (CAGR 2024-2028).
The market's largest segment is the segment Cold & Cough Remedies with a market volume of US$15.92bn 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$16.64 are generated in 2024.
In the OTC Pharmaceuticals market, 22.2% 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.
For more information on the data displayed, use the info button next to the boxes.

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Region

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in APAC has experienced significant growth in recent years, driven by customer preferences for self-medication, increasing healthcare awareness, and the rising prevalence of chronic diseases. Customer preferences in the APAC region have shifted towards self-medication due to the convenience and accessibility of over-the-counter medications.

Consumers are increasingly seeking quick and effective remedies for common ailments such as cough, cold, and headache without the need for a prescription. This trend is particularly prominent in countries like China and India, where the OTC market has witnessed substantial growth. In addition, the growing healthcare awareness among consumers in APAC has contributed to the expansion of the OTC Pharmaceuticals market.

With increasing access to information through the internet and social media, consumers are becoming more proactive in managing their health and seeking appropriate treatments. This has led to a higher demand for OTC medications, as consumers are now more knowledgeable about the available options and their potential benefits. The rising prevalence of chronic diseases in the APAC region has also fueled the growth of the OTC Pharmaceuticals market.

Conditions such as diabetes, hypertension, and respiratory diseases are becoming more common, leading to a greater need for self-management and symptom relief. OTC medications provide a convenient and cost-effective solution for individuals with chronic conditions, allowing them to manage their symptoms and improve their quality of life. In terms of market trends, the OTC Pharmaceuticals market in APAC is witnessing a shift towards natural and herbal remedies.

Consumers are increasingly seeking products that are perceived to be safer and have fewer side effects. This trend is particularly prevalent in countries like Japan and South Korea, where traditional medicine and herbal remedies have a long history. As a result, companies are launching more natural and herbal OTC products to cater to this growing demand.

Local special circumstances also play a role in shaping the OTC Pharmaceuticals market in APAC. For example, in countries like China and India, where healthcare infrastructure is still developing, OTC medications serve as a primary source of treatment for many individuals. The affordability and accessibility of these products make them an attractive option for consumers who may not have easy access to healthcare facilities.

Underlying macroeconomic factors such as population growth, urbanization, and increasing disposable income are also driving the growth of the OTC Pharmaceuticals market in APAC. As the population continues to grow and more people move to urban areas, the demand for convenient and accessible healthcare solutions is expected to increase. Additionally, rising disposable income levels in many APAC countries are enabling consumers to spend more on healthcare products, including OTC medications.

Overall, the OTC Pharmaceuticals market in APAC is experiencing significant growth due to customer preferences for self-medication, increasing healthcare awareness, the rising prevalence of chronic diseases, and underlying macroeconomic factors. The market is expected to continue expanding as consumers seek convenient and cost-effective solutions for their healthcare needs.

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.