OTC Pharmaceuticals - Southeast Asia

Southeast Asia

Revenue in the OTC Pharmaceuticals market amounts to US$9.26bn in 2024. The market is expected to grow annually by 6.97% (CAGR 2024-2029).
The market's largest segment is the segment Vitamins & Minerals with a market volume of US$2.30bn 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$13.37 are generated in 2024.
In the OTC Pharmaceuticals market, 16.4% 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 Southeast Asia has been experiencing significant growth in recent years. Customer preferences in the region have played a key role in driving this growth.

Consumers in Southeast Asia have shown a strong preference for self-medication and over-the-counter (OTC) products. This can be attributed to several factors, including the ease of access to OTC medications, the affordable prices compared to prescription drugs, and the convenience of being able to purchase these products without a doctor's prescription. Additionally, the increasing awareness and knowledge about healthcare and wellness among consumers in the region have also contributed to the growing demand for OTC pharmaceuticals.

Trends in the market show that certain countries in Southeast Asia are witnessing a surge in the sales of OTC pharmaceuticals. For example, in Indonesia, the largest economy in the region, the OTC market has experienced steady growth due to the rising middle-class population and increasing urbanization. Similarly, in Thailand, the market has been driven by the growing aging population and the rising prevalence of chronic diseases.

Local special circumstances also play a role in the development of the OTC Pharmaceuticals market in Southeast Asia. For instance, the presence of a large number of small, independent pharmacies in the region has contributed to the accessibility and availability of OTC medications. These pharmacies often serve as the first point of contact for consumers seeking healthcare advice and products.

Additionally, the cultural belief in traditional remedies and herbal medicines has also influenced the demand for OTC pharmaceuticals in the region. Underlying macroeconomic factors have also contributed to the growth of the OTC Pharmaceuticals market in Southeast Asia. The region has been experiencing robust economic growth, leading to an increase in disposable incomes and higher healthcare spending.

Furthermore, the rapid urbanization and improving healthcare infrastructure in many countries have also played a role in driving the demand for OTC pharmaceuticals. In conclusion, the OTC Pharmaceuticals market in Southeast Asia is experiencing significant growth due to customer preferences for self-medication, increasing awareness about healthcare, and the affordability and accessibility of OTC products. Local special circumstances, such as the presence of small pharmacies and cultural beliefs, also contribute to the market's development.

Underlying macroeconomic factors, such as economic growth and improving healthcare infrastructure, further fuel the growth of the market in the region.

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.