OTC Pharmaceuticals - Denmark

Denmark

The OTC Pharmaceuticals market in Denmark is projected to generate a revenue of US$189.70m in 2024.
It is anticipated to witness a steady annual growth rate of 2.56% during the period of 2024-2029 (CAGR 2024-2029).
Other OTC Pharmaceuticals dominate this market, accounting for the largest market share with a volume of US$68.92m in 2024.
When compared to other countries globally, the in the United States leads the pack in terms of revenue generation, with an estimated revenue of US$41,240.00m in 2024.
In terms of per capita revenue, each person in Denmark is expected to contribute approximately US$31.94 in revenue in 2024.
Furthermore, online sales are projected to play a significant role in the OTC Pharmaceuticals market, accounting for 17.78% of the total revenue by 2024.
Denmark's OTC Pharmaceuticals market is witnessing a growing trend towards natural and herbal remedies, driven by consumers' increasing focus on wellness and sustainability.

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.
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Analyst Opinion

The OTC Pharmaceuticals market in Denmark has experienced significant growth in recent years, driven by changing customer preferences and trends in the market.

Customer preferences: In Denmark, there is a growing preference for self-care and self-medication, leading to increased demand for over-the-counter (OTC) pharmaceuticals. Consumers are increasingly seeking convenience and cost-effective solutions for minor health issues, such as common colds, headaches, and allergies. This shift in customer preferences has led to an increase in the purchase of OTC medicines, as they provide easy access to treatments without the need for a prescription.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Denmark is the growing demand for natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceuticals. This has led to the introduction of a wide range of natural and herbal OTC products in the market, including vitamins, supplements, and homeopathic remedies.Another trend in the market is the increasing availability of OTC medicines in non-traditional retail channels. In addition to pharmacies and drugstores, OTC products are now widely available in supermarkets, convenience stores, and online platforms. This has made it easier for consumers to access OTC medicines and has contributed to the overall growth of the market.

Local special circumstances: Denmark has a well-developed healthcare system that provides universal access to healthcare services. However, the high cost of prescription medicines and the long waiting times to see a doctor have led many consumers to turn to OTC medicines as a more convenient and affordable option. This has created a favorable environment for the growth of the OTC Pharmaceuticals market in the country.

Underlying macroeconomic factors: Denmark has a stable economy with a high standard of living, which has contributed to the growth of the OTC Pharmaceuticals market. The country's strong healthcare infrastructure and high level of healthcare expenditure have also played a role in driving the market growth. Additionally, the aging population in Denmark has increased the demand for OTC medicines, as older adults are more likely to have chronic health conditions that require ongoing treatment.In conclusion, the OTC Pharmaceuticals market in Denmark has experienced significant growth due to changing customer preferences, including a preference for self-care and natural remedies. The market has also benefited from the increasing availability of OTC medicines in non-traditional retail channels. The country's well-developed healthcare system, high healthcare expenditure, and aging population have further contributed to the growth 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.