OTC Pharmaceuticals - Myanmar

Myanmar

Revenue in the OTC Pharmaceuticals market amounts to US$271.60m in 2024. The market is expected to grow annually by 7.98% (CAGR 2024-2029).
The market's largest segment is the segment Analgesics with a market volume of US$67.02m 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$4.94 are generated in 2024.
In the OTC Pharmaceuticals market, 1.2% 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.
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Market

Region

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in Myanmar has been experiencing significant growth in recent years. Customer preferences in the OTC Pharmaceuticals market in Myanmar have been shifting towards more accessible and affordable healthcare options.

With the rising middle class and increasing disposable income, consumers are seeking convenient and cost-effective ways to manage their health. This has led to a growing demand for over-the-counter medications, as they offer a convenient and affordable alternative to prescription drugs. Trends in the market indicate that there is a growing awareness and acceptance of self-medication among consumers in Myanmar.

This is driven by factors such as the increasing availability of information through the internet and social media, which allows consumers to research and learn about different healthcare options. Additionally, the growing number of pharmacies and retail outlets offering OTC medications has made it easier for consumers to access these products. Local special circumstances in Myanmar have also contributed to the growth of the OTC Pharmaceuticals market.

The country has a large rural population with limited access to healthcare facilities, especially in remote areas. This has created a demand for OTC medications as a primary source of healthcare for many individuals. Furthermore, the lack of healthcare infrastructure and shortage of healthcare professionals in Myanmar has resulted in a greater reliance on self-medication.

Underlying macroeconomic factors have played a role in the development of the OTC Pharmaceuticals market in Myanmar. The country has been experiencing steady economic growth, which has led to an increase in disposable income and improved living standards. This has allowed more people to afford healthcare products and services, including OTC medications.

Additionally, the government's efforts to improve healthcare access and promote self-medication have also contributed to the growth of the market. In conclusion, the OTC Pharmaceuticals market in Myanmar is developing due to changing customer preferences, increasing awareness and acceptance of self-medication, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, it is expected that there will be further expansion and diversification of product offerings to cater to the evolving needs of consumers in Myanmar.

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.