OTC Pharmaceuticals - United Kingdom

United Kingdom

In 2024, the revenue in the OTC Pharmaceuticals market in the United Kingdom amounts to US$3,985.00m.
It is projected that the market will experience an annual growth rate of (CAGR 2024-2029).
The largest market within the OTC Pharmaceuticals market sector is Analgesics, with a market volume of US$953.20m in 2024.
When compared to other countries worldwide, the in the United States generates the highest revenue in the OTC Pharmaceuticals market, with US$41,240.00m in 2024.
Taking into account the total population figures, the per person revenue generated in the United Kingdom in 2024 is US$58.63.
Furthermore, it is estimated that 33.07% of the total revenue in the OTC Pharmaceuticals market will be generated through online sales by 2024.
The United Kingdom's OTC Pharmaceuticals market is witnessing a surge 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.
For more information on the data displayed, use the info button next to the boxes.

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Analyst Opinion

The OTC Pharmaceuticals market in United Kingdom is experiencing significant growth and development.

Customer preferences: Customers in the United Kingdom have shown a strong preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors. Firstly, there is a growing trend towards self-care and self-medication, as consumers seek to take control of their own health and well-being. This has led to an increased demand for OTC products that can be easily accessed and used without the need for a prescription. Additionally, the convenience and affordability of OTC medications have also contributed to their popularity among consumers.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in United Kingdom is the increasing availability and variety of OTC products. Pharmacies and retail stores are expanding their OTC product offerings to cater to the diverse needs of consumers. This includes a wide range of products for common ailments such as coughs, colds, allergies, and pain relief. Furthermore, there is a growing focus on preventive healthcare, with an emphasis on OTC products that promote overall health and wellness.Another trend in the market is the rise of online sales of OTC pharmaceuticals. With the increasing popularity of e-commerce, consumers are increasingly turning to online platforms to purchase their healthcare products. This provides them with greater convenience and accessibility, as they can browse and order products from the comfort of their own homes. Online retailers are also capitalizing on this trend by offering a wider selection of OTC products and competitive pricing.

Local special circumstances: The OTC Pharmaceuticals market in United Kingdom is influenced by several local special circumstances. One of these is the presence of a well-established healthcare system, which includes a network of pharmacies and healthcare professionals. This infrastructure supports the distribution and sale of OTC products, as well as provides consumers with access to professional advice and guidance.Additionally, the regulatory environment in the United Kingdom plays a role in shaping the OTC Pharmaceuticals market. The Medicines and Healthcare products Regulatory Agency (MHRA) oversees the safety and quality of OTC products, ensuring that they meet the necessary standards. This regulatory framework instills confidence in consumers and promotes the growth of the market.

Underlying macroeconomic factors: The development of the OTC Pharmaceuticals market in United Kingdom is also influenced by underlying macroeconomic factors. The country has a strong and stable economy, which provides consumers with the purchasing power to invest in their health and well-being. Furthermore, the aging population in the United Kingdom is driving the demand for OTC products, as older individuals seek to manage their health conditions and maintain their quality of life.In conclusion, the OTC Pharmaceuticals market in United Kingdom is experiencing growth and development due to customer preferences for self-care, the increasing availability of OTC products, the rise of online sales, the presence of a well-established healthcare system, the regulatory environment, and underlying macroeconomic factors such as a strong economy and an aging population.

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.