OTC Pharmaceuticals - Baltics

Baltics

Revenue in the OTC Pharmaceuticals market amounts to US$604.70m in 2024. The market is expected to grow annually by 5.53% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$214.50m 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$103.90 are generated in 2024.
In the OTC Pharmaceuticals market, 3.9% 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

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Analyst Opinion

The OTC Pharmaceuticals market in Baltics is experiencing steady growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the OTC Pharmaceuticals market in Baltics are shifting towards self-medication and convenience.

Consumers are increasingly seeking over-the-counter medicines for common ailments and minor health issues, as they provide quick relief without the need for a doctor's prescription. This preference for self-medication is driven by factors such as busy lifestyles, easy access to information, and a desire for cost-effective healthcare solutions. Trends in the market include the growing popularity of natural and herbal remedies, as consumers seek more holistic and alternative approaches to healthcare.

This trend is in line with the global shift towards natural products and a focus on wellness and prevention. Additionally, there is an increasing demand for OTC Pharmaceuticals that cater to specific demographics, such as children, elderly, and athletes. Manufacturers are responding to these trends by introducing specialized products that meet the unique needs of these consumer groups.

Local special circumstances in the Baltics, such as a high level of internet penetration and tech-savvy population, are driving the growth of online sales of OTC Pharmaceuticals. Consumers are increasingly turning to e-commerce platforms to purchase their medications, as it offers convenience, competitive pricing, and a wide range of product options. The rise of online pharmacies and delivery services has made it easier for consumers to access OTC Pharmaceuticals without leaving their homes.

Underlying macroeconomic factors, such as increasing disposable income and improving healthcare infrastructure, are also contributing to the growth of the OTC Pharmaceuticals market in the Baltics. As the economy improves and household incomes rise, consumers have more discretionary spending power, which they are allocating towards healthcare and wellness products. Furthermore, investments in healthcare infrastructure, including pharmacies and retail outlets, have made OTC Pharmaceuticals more accessible to consumers across the region.

In conclusion, the OTC Pharmaceuticals market in the Baltics is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly opting for self-medication and convenience, driving the demand for over-the-counter medicines. The market is also witnessing trends such as the popularity of natural remedies and specialized products for specific demographics.

Online sales of OTC Pharmaceuticals are on the rise, thanks to high internet penetration and a tech-savvy population. Additionally, increasing disposable income and improving healthcare infrastructure are supporting the growth of 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.