OTC Pharmaceuticals - Eastern Asia

Eastern Asia

In 2024, the revenue in the Eastern Asian OTC Pharmaceuticals market reaches an impressive amount of US$46.21bn.
This market is expected to experience steady growth at an annual rate of 5.16% (CAGR 2024-2029).
Among the various markets, the Cold & Cough Remedies market dominates with a substantial volume of US$11.17bn in 2024.
When compared globally, the in the United States leads the way in generating revenue, reaching a staggering US$41,240.00m in 2024.
Considering the total population figures, per person revenues in Eastern Asia amount to US$28.27 in 2024.
As for the sales channels, online sales are projected to contribute 26.90% of the total revenue in the OTC Pharmaceuticals market by 2024.
This indicates a growing trend towards e-commerce in this market.
In Eastern Asia, the OTC Pharmaceuticals market is experiencing a surge in demand for traditional herbal remedies.

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 Eastern Asia has been experiencing steady growth in recent years. Customer preferences in the region have played a significant role in driving this growth. Eastern Asian consumers have shown a strong preference for self-medication and convenience when it comes to managing their healthcare needs. This has led to an increased demand for over-the-counter (OTC) pharmaceutical products that can be easily purchased without a prescription. In addition, consumers in the region are increasingly seeking out products that offer a combination of effectiveness, safety, and affordability. One of the key trends in the OTC Pharmaceuticals market in Eastern Asia is the rising popularity of traditional and herbal remedies. Traditional Chinese medicine, in particular, has gained significant traction in the region. Consumers are turning to these alternative remedies as they are perceived to be more natural and have fewer side effects compared to conventional pharmaceuticals. This trend has prompted pharmaceutical companies to develop and market a wide range of OTC products that incorporate traditional ingredients and remedies.Another trend in the market is the increasing availability and accessibility of OTC pharmaceuticals. With the rapid expansion of e-commerce platforms and the growing number of brick-and-mortar pharmacies, consumers in Eastern Asia now have more options than ever before when it comes to purchasing OTC products. This has made it easier for consumers to find and purchase the products they need, further driving the growth of the market.Local special circumstances in Eastern Asia have also contributed to the development of the OTC Pharmaceuticals market. For example, in countries like China and Japan, where the healthcare system is heavily burdened and access to doctors can be limited, OTC pharmaceuticals provide a convenient and cost-effective solution for minor ailments and common health issues. Additionally, the aging population in the region has created a growing demand for OTC products that cater to the specific health needs of older adults.Underlying macroeconomic factors have also played a role in the growth of the OTC Pharmaceuticals market in Eastern Asia. The region has experienced sustained economic growth, leading to an increase in disposable income and consumer spending power. This has allowed consumers to allocate more of their budget towards healthcare and wellness products, including OTC pharmaceuticals.In conclusion, the OTC Pharmaceuticals market in Eastern Asia is experiencing growth due to customer preferences for self-medication and convenience, the rising popularity of traditional and herbal remedies, increasing availability and accessibility of OTC products, local special circumstances, and underlying macroeconomic factors. As these trends continue to shape the market, it is expected that the OTC Pharmaceuticals market in Eastern Asia will continue to grow in the coming years.

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.