OTC Pharmaceuticals - Southern Europe

Southern Europe

The OTC Pharmaceuticals market in Southern Europe is projected to generate a revenue of US$11.38bn by 2024.
This market is also expected to experience an annual growth rate of 3.48% from 2024 to 2029 (CAGR 2024-2029).
Among the various market categories, Other OTC Pharmaceuticals holds the largest share with a market volume of US$3.33bn in 2024.
When compared globally, the in the United States leads in revenue generation, with an estimated amount of US$41,240.00m in 2024.
In terms of per capita revenue, each person in Southern Europe is anticipated to contribute US$48.09 to the OTC Pharmaceuticals market in 2024.
Furthermore, online sales are predicted to account for 14.22% of the total revenue in the OTC Pharmaceuticals market by 2024.
In Southern Europe, the OTC Pharmaceuticals market is experiencing a rise in demand for natural and 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.
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Market

Region

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Analyst Opinion

The OTC Pharmaceuticals market in Southern Europe has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.Customer preferences in Southern Europe have played a significant role in the growth of the OTC Pharmaceuticals market. Consumers in this region have shown a strong preference for self-medication and over-the-counter remedies. This can be attributed to several factors, including convenience, cost-effectiveness, and a desire for more control over their healthcare. Additionally, there is a growing trend towards natural and herbal remedies, as consumers seek alternatives to traditional pharmaceuticals.Trends in the market have also contributed to the growth of the OTC Pharmaceuticals market in Southern Europe. One notable trend is the increasing availability and accessibility of OTC products. Pharmacies and supermarkets have expanded their range of over-the-counter medications, making them easily accessible to consumers. This has led to increased sales and revenue for OTC pharmaceutical companies operating in the region.Another trend in the market is the growing emphasis on preventive healthcare. Consumers in Southern Europe are becoming more proactive in managing their health and are seeking OTC products that can help prevent or alleviate common ailments. This trend is driven by a desire to reduce healthcare costs and improve overall well-being. As a result, OTC pharmaceutical companies are developing and marketing products that cater to this demand.Local special circumstances in Southern Europe have also contributed to the growth of the OTC Pharmaceuticals market. The region has a high prevalence of chronic diseases, such as cardiovascular diseases and diabetes. This has led to an increased demand for OTC medications that can help manage these conditions. Additionally, Southern Europe has an aging population, which has further fueled the demand for OTC pharmaceuticals.Underlying macroeconomic factors have also played a role in the development of the OTC Pharmaceuticals market in Southern Europe. The region has seen economic growth and stability in recent years, which has increased disposable income and consumer spending power. This has allowed consumers to allocate more of their budget towards healthcare and OTC medications.In conclusion, the OTC Pharmaceuticals market in Southern Europe is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Consumers in the region prefer self-medication and over-the-counter remedies, leading to increased sales of OTC pharmaceuticals. The market is also driven by trends such as the increasing availability of OTC products and the emphasis on preventive healthcare. Local special circumstances, such as the high prevalence of chronic diseases and an aging population, further contribute to the growth of the market. Lastly, the region's economic growth and stability have increased disposable income and consumer spending power, allowing for greater investment in healthcare and OTC medications.

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.