OTC Pharmaceuticals - Brazil

  • Brazil
  • Revenue in the OTC Pharmaceuticals market amounts to €5,691.00m in 2024. The market is expected to grow annually by 5.33% (CAGR 2024-2029).
  • The market's largest segment is the segment Analgesics with a market volume of €1,304.00m in 2024.
  • In global comparison, most revenue is generated in the United States (€38,250m in 2024).
  • In relation to total population figures, per person revenues of €26.15 are generated in 2024.
  • In the OTC Pharmaceuticals market, 18.4% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

 
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Analyst Opinion

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

Customer preferences:
In Brazil, customers have shown a strong preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience and accessibility of these products. Customers appreciate the ability to purchase medications without a prescription, allowing them to quickly address minor health concerns. Additionally, OTC medications are often more affordable than prescription drugs, making them a popular choice among cost-conscious consumers.

Trends in the market:
One notable trend in the OTC Pharmaceuticals market in Brazil is the increasing demand for natural and herbal remedies. Brazilian consumers are becoming more health-conscious and are seeking out products that are perceived as more natural and less chemically based. This has led to a rise in the popularity of herbal supplements, homeopathic remedies, and other natural OTC medications. Manufacturers and retailers are responding to this trend by expanding their product offerings in this category. Another trend in the market is the growing focus on preventive healthcare. Brazilian consumers are increasingly proactive in managing their health and are seeking out OTC medications and supplements that can help prevent illness and promote overall well-being. This trend is driving the development of new products in areas such as vitamins, dietary supplements, and immune-boosting formulations.

Local special circumstances:
Brazil has a large population and a growing middle class, which has contributed to the expansion of the OTC Pharmaceuticals market. As more people have access to disposable income, they are able to afford OTC medications and are willing to invest in their health. Additionally, Brazil has a well-developed retail infrastructure, with pharmacies and drugstores widely available throughout the country. This makes it easy for customers to access OTC medications and contributes to the overall growth of the market.

Underlying macroeconomic factors:
The OTC Pharmaceuticals market in Brazil is also influenced by macroeconomic factors. Brazil has experienced economic growth in recent years, which has led to increased consumer spending power. Additionally, the country has a strong healthcare system and a well-regulated pharmaceutical industry, which instills confidence in consumers and encourages them to purchase OTC medications. The government also plays a role in promoting the OTC market by implementing policies that support the availability and affordability of these products. In conclusion, the OTC Pharmaceuticals market in Brazil is developing due to customer preferences for convenience and affordability, as well as the growing demand for natural and preventive healthcare products. The country's large population, expanding middle class, and well-developed retail infrastructure also contribute to the growth of the market. Overall, the OTC Pharmaceuticals market in Brazil is poised for continued expansion 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.

Vue d’ensemble

  • Revenue
  • Key Players
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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