OTC Pharmaceuticals - China

China

Revenue in the OTC Pharmaceuticals market in China is projected to reach US$30.77bn in 2024.
The market is expected to experience an annual growth rate of 5.58% (CAGR 2024-2029).
Among the markets, the largest one is Cold & Cough Remedies, with a market volume of US$8.68bn in 2024.
In comparison to other countries, the in the United States generates the highest revenue, with US$41,240.00m in 2024.
When considering the population figures, the per person revenue in China is estimated to be US$21.48 in 2024.
Furthermore, it is anticipated that online sales will account for 30.45% of the total revenue in the OTC Pharmaceuticals market by 2024.
China's OTC Pharmaceuticals market is experiencing a surge in demand for traditional Chinese medicine remedies, driven by a growing interest in holistic healthcare.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The OTC Pharmaceuticals market in China has been experiencing significant growth in recent years.

Customer preferences: Chinese consumers have shown a growing preference for over-the-counter (OTC) medications due to several factors. One of the main reasons is the convenience and accessibility of these products. OTC medications can be purchased without a prescription, allowing consumers to quickly and easily obtain relief for common ailments such as headaches, colds, and allergies. Additionally, OTC medications are often more affordable than prescription drugs, making them a preferred choice for cost-conscious consumers.

Trends in the market: One major trend in the OTC Pharmaceuticals market in China is the increasing demand for traditional Chinese medicine (TCM) products. TCM has a long history in China and is deeply rooted in the culture. Many Chinese consumers believe in the efficacy of TCM in treating various health conditions and prefer to use TCM products instead of Western medicine. As a result, there has been a surge in the availability and sales of TCM-based OTC medications in the market.Another trend in the market is the rising popularity of online sales channels. With the rapid growth of e-commerce in China, more and more consumers are turning to online platforms to purchase OTC medications. This trend is driven by the convenience of online shopping, competitive pricing, and a wide range of product options available online. Online sales platforms also provide consumers with the opportunity to read reviews and compare products before making a purchase, further enhancing their shopping experience.

Local special circumstances: China's aging population is a significant local special circumstance that is driving the growth of the OTC Pharmaceuticals market. As the population ages, there is a higher prevalence of chronic diseases and conditions that require ongoing medication. OTC medications provide a convenient and cost-effective solution for managing these conditions, leading to increased demand.Additionally, China's healthcare system is still developing, and access to healthcare services in some rural areas can be limited. OTC medications help bridge this gap by providing individuals with access to basic healthcare solutions without the need for a doctor's visit or prescription.

Underlying macroeconomic factors: China's rapidly growing middle class and rising disposable incomes have contributed to the growth of the OTC Pharmaceuticals market. As more Chinese consumers have the means to afford healthcare products, the demand for OTC medications has increased.Furthermore, the government's efforts to promote self-care and reduce the burden on the healthcare system have also played a role in the market's development. The Chinese government has implemented policies to encourage the use of OTC medications for common ailments, freeing up healthcare resources for more serious conditions.In conclusion, the OTC Pharmaceuticals market in China is experiencing growth due to customer preferences for convenience and affordability, the increasing popularity of TCM products, the rise of online sales channels, the aging population, and the government's support for self-care. These factors are driving the market's expansion and shaping its future trajectory.

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.