OTC Pharmaceuticals - Romania

Romania

In 2024, the revenue in the OTC Pharmaceuticals market in Romania amounts to US$1,108.00m.
It is projected to experience an annual growth rate of 6.22% (CAGR 2024-2029).
The largest market within this industry is Cold & Cough Remedies, which is estimated to have a market volume of US$268.70m in 2024.
When compared to other countries worldwide, the in the United States generates the highest revenue in the OTC Pharmaceuticals market, reaching US$41,240.00m in 2024.
However, in relation to Romania's total population, per person revenues amount to US$56.47 in 2024.
Furthermore, it is expected that online sales will contribute to 11.77% of the total revenue in the OTC Pharmaceuticals market in Romania by 2024.
This indicates a growing trend towards online purchasing within this sector.
Romania's OTC Pharmaceuticals market is witnessing a surge in demand for natural remedies and herbal supplements.

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 Romania is experiencing significant growth and development.

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

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Romania is the increasing demand for vitamins and dietary supplements. As consumers become more health-conscious, they are seeking ways to improve their overall well-being and prevent illness. This has led to a rise in the consumption of vitamins and dietary supplements, which are readily available over the counter. Furthermore, the aging population in Romania is driving the demand for products that support joint health, bone health, and cognitive function.Another trend in the market is the growing popularity of natural and herbal remedies. Romanian consumers are increasingly seeking alternative treatments and are turning to traditional remedies and herbal products for various health conditions. This trend is fueled by the perception that natural products are safer and have fewer side effects compared to conventional medications. As a result, there is a growing market for OTC herbal remedies and homeopathic products in Romania.

Local special circumstances: Romania has a well-established network of pharmacies, making it easy for consumers to access OTC pharmaceutical products. Pharmacies are highly regulated and provide reliable information and guidance to consumers, which further promotes the use of OTC products. Additionally, the country has a strong tradition of self-medication, with many consumers relying on OTC drugs for common ailments such as headaches, colds, and minor injuries.

Underlying macroeconomic factors: The growing OTC Pharmaceuticals market in Romania can be attributed to several underlying macroeconomic factors. Firstly, the country's improving economic conditions have led to an increase in disposable income, allowing consumers to spend more on healthcare products. Secondly, the rising healthcare costs and long waiting times for doctor appointments have encouraged consumers to seek self-care options through OTC medications. Lastly, the aging population in Romania has created a larger consumer base for OTC products, as older individuals often require medications for chronic conditions and general health maintenance.In conclusion, the OTC Pharmaceuticals market in Romania is experiencing growth and development due to customer preferences for convenient and affordable healthcare options, such as OTC drugs. The market is characterized by an increasing demand for vitamins and dietary supplements, as well as a growing interest in natural and herbal remedies. The country's well-established pharmacy network and tradition of self-medication further contribute to the market's expansion. The underlying macroeconomic factors of improving economic conditions, rising healthcare costs, and an aging population also play a significant role in driving the growth of the OTC Pharmaceuticals market in Romania.

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.