OTC Pharmaceuticals - Zambia

Zambia

Revenue in the OTC Pharmaceuticals market amounts to US$51.91m in 2024. The market is expected to grow annually by 5.27% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$21.51m 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$2.46 are generated in 2024.
In the OTC Pharmaceuticals market, 4.8% 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 Zambia has seen significant growth and development in recent years. Customer preferences in the OTC Pharmaceuticals market in Zambia have been influenced by several factors.

Firstly, there is a growing demand for self-medication and convenience among consumers. With busy lifestyles and limited access to healthcare facilities in some areas, consumers are increasingly turning to OTC medications for minor ailments and symptoms. Additionally, the affordability of OTC medications compared to prescription drugs makes them a popular choice among consumers.

Trends in the market indicate a shift towards natural and herbal remedies. Consumers are becoming more conscious about the ingredients and potential side effects of OTC medications, leading to an increased demand for products that are perceived as more natural and safer. This trend is in line with global market developments, as consumers worldwide are also showing a preference for natural remedies.

Local special circumstances in Zambia have also contributed to the development of the OTC Pharmaceuticals market. The country has a high prevalence of malaria and other tropical diseases, which has led to a demand for OTC anti-malarial medications and other related products. Additionally, the lack of access to healthcare facilities in rural areas has further fueled the demand for OTC medications.

Underlying macroeconomic factors have played a role in the growth of the OTC Pharmaceuticals market in Zambia. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among consumers. This has allowed them to spend more on healthcare products, including OTC medications.

Furthermore, the government's efforts to improve healthcare infrastructure and increase access to affordable medications have also contributed to the growth of the market. In conclusion, the OTC Pharmaceuticals market in Zambia is developing due to customer preferences for self-medication and convenience, the trend towards natural remedies, local special circumstances such as the prevalence of tropical diseases, and underlying macroeconomic factors such as economic growth and government initiatives.

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.