OTC Pharmaceuticals - Austria

Austria

In Austria, the revenue in the OTC Pharmaceuticals market is projected to reach US$1,210.00m in 2024.
This market is expected to grow annually by 3.18% (CAGR 2024-2029).
Among the various markets, the largest market share belongs to Other OTC Pharmaceuticals, with a market volume of US$317.00m in 2024.
When compared globally, the in the United States generates the highest revenue in the OTC Pharmaceuticals market, with US$41,240.00m in 2024.
In terms of per person revenues, in Austria generates US$134.70 in 2024.
Furthermore, online sales are expected to contribute 21.98% of the total revenue in the OTC Pharmaceuticals market by 2024.
The demand for OTC Pharmaceuticals in Austria is currently driven by a growing aging population seeking self-care solutions.

Key regions: United States, China, Germany, Japan, 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.
For more information on the data displayed, use the info button next to the boxes.

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Analyst Opinion

The OTC Pharmaceuticals market in Austria has been experiencing steady growth in recent years. Customer preferences have played a significant role in shaping the market, with a growing demand for convenience and self-care driving the sales of over-the-counter medicines. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market.Customer preferences in Austria have shifted towards self-care and convenience in recent years. With an increasing emphasis on personal health and wellness, consumers are seeking easy access to medications for common ailments. This has led to a rise in the sales of OTC pharmaceuticals, as they offer a convenient and cost-effective solution for treating minor illnesses and symptoms. Furthermore, the preference for self-care aligns with the trend of taking responsibility for one's own health, which has gained popularity in Austria and other developed countries.In addition to customer preferences, several trends have emerged in the OTC Pharmaceuticals market in Austria. One notable trend is the increasing availability and variety of OTC products. Pharmacies and drugstores have expanded their product offerings to include a wide range of over-the-counter medications, allowing consumers to choose from multiple brands and formulations. This trend reflects the growing demand for choice and customization in healthcare products.Another trend in the market is the growing popularity of natural and herbal remedies. Many consumers in Austria are turning to alternative therapies and natural ingredients for their healthcare needs. This has led to the introduction of OTC products that are based on traditional remedies and herbal ingredients. The demand for natural and herbal remedies is driven by the perception that they are safer and have fewer side effects compared to conventional pharmaceuticals.Local special circumstances in Austria have also influenced the development of the OTC Pharmaceuticals market. The country has a well-established healthcare system, with a high level of access to healthcare services. This has created a favorable environment for the sale of over-the-counter medications, as consumers have easy access to pharmacies and healthcare professionals for advice and guidance. Additionally, the strong regulatory framework in Austria ensures the safety and quality of OTC products, which further enhances consumer confidence in these medications.Underlying macroeconomic factors have also contributed to the growth of the OTC Pharmaceuticals market in Austria. The country has a stable economy and a high level of disposable income, which allows consumers to spend on healthcare products. Furthermore, the aging population in Austria has increased the demand for OTC medications, as older individuals often require treatment for chronic conditions and age-related ailments. These macroeconomic factors have created a favorable market environment for the OTC Pharmaceuticals industry in Austria.In conclusion, the OTC Pharmaceuticals market in Austria is developing due to customer preferences for convenience and self-care, as well as the availability of a wide range of OTC products. Local special circumstances, such as a well-established healthcare system and strong regulatory framework, have also played a role in shaping the market. Additionally, underlying macroeconomic factors, including a stable economy and an aging population, have contributed to the growth of the OTC Pharmaceuticals industry in Austria.

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.