OTC Pharmaceuticals - Saudi Arabia

Saudi Arabia

Revenue in the OTC Pharmaceuticals market amounts to US$823.70m in 2024. The market is expected to grow annually by 3.12% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$274.20m 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$21.98 are generated in 2024.
In the OTC Pharmaceuticals market, 23.7% 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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Currency

Analyst Opinion

The OTC Pharmaceuticals market in Saudi Arabia has been experiencing steady growth in recent years.

Customer preferences: Saudi Arabian consumers have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors. Firstly, there is a high level of trust in the quality and safety of OTC medicines in the country. Consumers appreciate the convenience of being able to purchase these products without a prescription, especially for minor health issues. Additionally, the cost-effectiveness of OTC medications compared to prescription drugs is another factor driving customer preferences in Saudi Arabia.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Saudi Arabia is the increasing demand for self-medication. As consumers become more health-conscious and seek to take control of their own well-being, they are turning to OTC products to address common ailments and minor health issues. This trend is further supported by the growing availability and accessibility of OTC medications in pharmacies and retail outlets across the country. Another trend in the market is the rising popularity of natural and herbal remedies. Saudi Arabian consumers have a long-standing tradition of using natural remedies for various health conditions. This preference for natural products extends to the OTC Pharmaceuticals market, where there is a growing demand for herbal supplements, vitamins, and other natural health products. Manufacturers and retailers are responding to this trend by expanding their product offerings in this category.

Local special circumstances: The OTC Pharmaceuticals market in Saudi Arabia is influenced by several local special circumstances. One of these is the cultural and religious context of the country. Islamic principles emphasize the importance of maintaining good health, and the use of OTC medications aligns with this belief. Additionally, the Saudi Arabian healthcare system places a strong emphasis on preventive care, and OTC medications play a role in supporting this approach. Another special circumstance is the high prevalence of lifestyle-related diseases in Saudi Arabia. Conditions such as diabetes, obesity, and cardiovascular diseases are common in the country. As a result, there is a growing demand for OTC medications that can help manage these conditions and promote overall well-being. Manufacturers and retailers are capitalizing on this demand by offering a wide range of OTC products targeted at specific health concerns.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the OTC Pharmaceuticals market in Saudi Arabia. Firstly, the country has a rapidly growing population, which is driving increased demand for healthcare products and services. This population growth, coupled with rising disposable incomes, is fueling the expansion of the OTC Pharmaceuticals market. Additionally, the Saudi Arabian government has implemented various initiatives to promote the growth of the healthcare sector, including the development of infrastructure and the introduction of health insurance schemes. These initiatives have created a favorable environment for the OTC Pharmaceuticals market to thrive. In conclusion, the OTC Pharmaceuticals market in Saudi Arabia is experiencing steady growth due to customer preferences for convenience, cost-effectiveness, and trust in the quality of OTC products. The market is characterized by trends such as self-medication and the popularity of natural remedies. Local special circumstances, including cultural and religious factors, as well as the high prevalence of lifestyle-related diseases, further shape the market. Underlying macroeconomic factors, such as population growth and government initiatives, are driving the development 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.