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Key regions: Worldwide, India, Philippines, United States, Europe
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
in billion EUR (€)
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
in percent
Most recent update: Mar 2024
Source: Statista Market Insights
The OTC Pharmaceuticals market in Japan has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in Japan have shifted towards self-medication and a desire for convenience.
As a result, there has been an increased demand for over-the-counter (OTC) pharmaceutical products that can be purchased without a prescription. Customers are seeking products that are easily accessible and provide quick relief for common ailments such as cold and flu symptoms, pain relief, and digestive issues. This preference for self-care has led to a surge in sales of OTC pharmaceuticals in Japan.
Trends in the OTC Pharmaceuticals market in Japan reflect the global market, with a focus on natural and herbal remedies, as well as products that promote overall health and wellness. Japanese consumers are increasingly seeking out products with natural ingredients, as they are perceived to be safer and have fewer side effects compared to traditional pharmaceuticals. This trend has led to the introduction of a wide range of herbal supplements, vitamins, and natural remedies in the OTC market in Japan.
Additionally, there is a growing demand for products that address specific health concerns such as sleep disorders, stress management, and immune system support. Local special circumstances in Japan have also contributed to the development of the OTC Pharmaceuticals market. The aging population in Japan has led to an increased prevalence of chronic diseases and conditions, which has created a need for accessible and affordable healthcare solutions.
OTC pharmaceuticals provide a cost-effective option for managing these conditions, as they can be purchased without a prescription and are often less expensive than prescription medications. The government has also taken steps to promote the use of OTC pharmaceuticals by expanding the list of approved OTC drugs and implementing regulations to ensure their safety and efficacy. Underlying macroeconomic factors have also played a role in the growth of the OTC Pharmaceuticals market in Japan.
The country's strong economy and high disposable income levels have allowed consumers to prioritize their health and wellness, leading to increased spending on OTC pharmaceuticals. Additionally, advancements in technology and e-commerce have made it easier for consumers to access and purchase OTC products, further driving market growth. In conclusion, the OTC Pharmaceuticals market in Japan has experienced significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.
The shift towards self-medication, the demand for natural and herbal remedies, the aging population, and the country's strong economy have all contributed to the development of this market. As customer preferences continue to evolve and new trends emerge, the OTC Pharmaceuticals market in Japan is expected to continue its growth trajectory.
Most recent update: Nov 2024
Source: Statista Market Insights
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.The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.
Source:
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Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
Lun - Ven, 9:00 - 18:00 h (EST)