OTC Pharmaceuticals - GCC

Revenue in the OTC Pharmaceuticals market amounts to US$2,641.00m in 2024. The market is expected to grow annually by 4.15% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$708.20m 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$43.75 are generated in 2024.
In the OTC Pharmaceuticals market, 12.8% 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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Analyst Opinion

The OTC Pharmaceuticals market in GCC is witnessing significant growth due to various factors such as changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in the GCC region are increasingly opting for over-the-counter (OTC) pharmaceuticals due to their convenience and accessibility. OTC drugs are easily available without the need for a prescription, allowing customers to self-diagnose and self-medicate for common ailments. This trend is driven by the busy lifestyles of consumers who prefer quick and easy solutions to their health issues.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in GCC is the growing demand for natural and herbal remedies. Customers are becoming more conscious about their health and are seeking products that are perceived as natural and safe. This has led to an increase in the availability and sales of herbal OTC products in the market. Additionally, there is a rising trend of online purchasing of OTC drugs, as customers prefer the convenience of browsing and ordering from the comfort of their homes.

Local special circumstances: The GCC region has a high prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases. This has created a significant demand for OTC pharmaceuticals related to these conditions, such as blood sugar monitoring devices, weight loss supplements, and cholesterol-lowering medications. The local healthcare system in the GCC countries also encourages the use of OTC drugs as a means to reduce the burden on hospitals and clinics.

Underlying macroeconomic factors: The GCC region is experiencing rapid population growth, urbanization, and an increase in disposable income. These factors have contributed to the growth of the OTC Pharmaceuticals market as consumers have more purchasing power and are willing to spend on healthcare products. Additionally, the GCC governments have implemented healthcare reforms and initiatives to improve access to healthcare services, which has further fueled the demand for OTC drugs. In conclusion, the OTC Pharmaceuticals market in GCC is witnessing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customers are increasingly opting for OTC drugs for their convenience and accessibility. The market is also experiencing trends such as the demand for natural and herbal remedies and the rise of online purchasing. The high prevalence of lifestyle diseases in the region and the healthcare system's emphasis on OTC drugs contribute to the market's growth. The rapid population growth, urbanization, and increase in disposable income in the GCC region are also driving factors for the market's development.

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.