OTC Pharmaceuticals - Australia & Oceania

Australia & Oceania

Revenue in the OTC Pharmaceuticals market amounts to US$5.08bn in 2024. The market is expected to grow annually by 5.44% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$1.56bn 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$117.00 are generated in 2024.
In the OTC Pharmaceuticals market, 22.3% 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 Australia & Oceania is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Australia & Oceania have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to various factors, including increasing healthcare costs, a desire for convenience, and a growing trend towards self-care. Consumers are increasingly seeking out OTC products that can provide relief from common ailments and minor health issues without the need for a prescription or a visit to a healthcare professional.

Trends in the market: One of the main trends in the OTC Pharmaceuticals market in Australia & Oceania is the increasing availability and variety of OTC products. The market is witnessing a surge in the number of OTC pharmaceutical products being introduced, ranging from pain relievers and cold medicines to vitamins and supplements. This trend can be attributed to the growing demand for self-care options and the willingness of consumers to take charge of their own health. Another important trend in the market is the rising popularity of natural and herbal OTC products. Consumers in Australia & Oceania are increasingly seeking out natural alternatives to traditional pharmaceutical products, driven by a desire for more holistic and sustainable healthcare options. This trend is reflected in the growing number of natural and herbal OTC products available in the market, catering to the specific needs and preferences of the local population.

Local special circumstances: Australia & Oceania has a unique healthcare landscape that influences the development of the OTC Pharmaceuticals market. The region is characterized by a relatively high level of healthcare expenditure, which is driven by factors such as an aging population and the prevalence of chronic diseases. As a result, there is a growing focus on preventive healthcare and self-care, leading to an increased demand for OTC pharmaceutical products. Additionally, the regulatory environment in Australia & Oceania plays a crucial role in shaping the OTC Pharmaceuticals market. The region has well-established regulatory frameworks that ensure the safety and efficacy of OTC products. This provides consumers with confidence in the quality of OTC pharmaceuticals and encourages their use.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in Australia & Oceania is also influenced by underlying macroeconomic factors. Economic growth, rising disposable incomes, and increasing urbanization are contributing to the expansion of the market. As consumers have more financial resources and access to healthcare services, they are more likely to purchase OTC pharmaceutical products. Furthermore, changing demographics, such as an aging population and a growing middle class, are driving the demand for OTC products. The aging population is more likely to require OTC pharmaceuticals for managing chronic conditions and age-related ailments. The growing middle class is also more health-conscious and willing to spend on preventive healthcare and self-care, leading to increased demand for OTC products. In conclusion, the OTC Pharmaceuticals market in Australia & Oceania is experiencing significant growth and development due to customer preferences for self-care, the increasing availability of OTC products, the rising popularity of natural and herbal alternatives, local special circumstances such as high healthcare expenditure and a well-regulated environment, and underlying macroeconomic factors such as economic growth, changing demographics, and rising disposable incomes.

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.