Market Insights Health OTC Pharmaceuticals

Other OTC Pharmaceuticals - Burundi

Burundi

In Burundi, the revenue generated in the Other OTC Pharmaceuticals market amounts to US$2.48m in 2024.
It is projected to experience an annual growth rate of 2.89% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, reaching US$7,171.00m in 2024.
In terms of per person revenues, in Burundi generates US$0.18 in 2024.
The demand for Other OTC Pharmaceuticals in Burundi is increasing due to a lack of access to affordable healthcare services.

Key regions: Europe, Germany, United States, Brazil, Australia

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Analyst Opinion

The Other OTC Pharmaceuticals market in Burundi is experiencing steady growth due to several key factors.

Customer preferences: Customers in Burundi have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience of purchasing these products without a prescription, the affordability compared to prescription medications, and the increasing awareness of self-medication. Additionally, the availability of a wide range of OTC pharmaceutical products in local pharmacies and drugstores has contributed to the growing demand.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals market in Burundi is the increasing demand for basic healthcare products such as pain relievers, cough and cold medicines, and gastrointestinal remedies. This can be attributed to the rising incidence of common ailments and the need for immediate relief. Furthermore, there is a growing trend of consumers seeking natural and herbal remedies, which has led to an increase in the availability and demand for such products in the market.

Local special circumstances: Burundi's healthcare system faces several challenges, including limited access to healthcare facilities, shortage of healthcare professionals, and inadequate healthcare infrastructure. These factors contribute to the reliance on OTC pharmaceutical products for self-medication and basic healthcare needs. Additionally, the lack of affordability and accessibility of prescription medications further drives the demand for OTC products in the country.

Underlying macroeconomic factors: Burundi is a low-income country with a significant portion of the population living below the poverty line. This has a direct impact on the healthcare sector, as many individuals cannot afford expensive prescription medications or doctor visits. As a result, OTC pharmaceutical products provide a more affordable option for healthcare needs. Furthermore, the growing urbanization and increasing disposable income of the middle class in Burundi have also contributed to the growth of the Other OTC Pharmaceuticals market.In conclusion, the Other OTC Pharmaceuticals market in Burundi is experiencing steady growth due to customer preferences for convenience, affordability, and self-medication. The increasing demand for basic healthcare products and the trend towards natural and herbal remedies are also driving the market. The local special circumstances, including limited access to healthcare facilities and the reliance on OTC products for healthcare needs, further contribute to the market growth. The underlying macroeconomic factors, such as the low-income status of the country and the increasing urbanization and disposable income, play a significant role in shaping the market dynamics.

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.