OTC Pharmaceuticals - United Kingdom
- United Kingdom
- Revenue in the OTC Pharmaceuticals market amounts to €3,695.00m in 2024. The market is expected to grow annually by 5.04% (CAGR 2024-2029).
- The market's largest segment is the segment Analgesics with a market volume of €883.90m 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 €54.37 are generated in 2024.
- In the OTC Pharmaceuticals market, 33.1% of total revenue will be generated through online sales by 2024.
Key regions: Worldwide, India, Philippines, United States, Europe
Analyst Opinion
The OTC Pharmaceuticals market in United Kingdom is experiencing steady growth due to customer preferences for self-medication, increasing healthcare costs, and the convenience of over-the-counter products.
Customer preferences: Customers in United Kingdom prefer over-the-counter (OTC) pharmaceuticals as they offer a convenient and cost-effective solution for managing common health issues. OTC products provide consumers with the ability to self-diagnose and self-medicate without the need for a prescription, saving them time and money. Additionally, the wide availability of OTC products in pharmacies, supermarkets, and online platforms makes them easily accessible to consumers.
Trends in the market: One of the key trends in the OTC Pharmaceuticals market in United Kingdom is the growing demand for non-prescription pain relievers and cough/cold remedies. These products are commonly used to alleviate symptoms associated with minor illnesses and are often the first line of defense for consumers. The increasing prevalence of conditions such as headaches, muscle pain, and common colds has contributed to the rising demand for OTC pain relievers and cough/cold remedies. Another trend in the market is the growing popularity of natural and herbal OTC products. Consumers are becoming more health-conscious and are seeking alternative remedies that are perceived to be safer and have fewer side effects. This has led to an increase in the demand for natural OTC products such as herbal supplements, vitamins, and homeopathic remedies.
Local special circumstances: The National Health Service (NHS) in United Kingdom provides free healthcare services to its residents, but the increasing burden on the healthcare system has resulted in longer waiting times and limited access to certain medications. This has prompted consumers to turn to OTC products as a convenient and accessible alternative. The availability of a wide range of OTC products in pharmacies and supermarkets further encourages self-medication.
Underlying macroeconomic factors: The rising healthcare costs in United Kingdom have also played a significant role in the growth of the OTC Pharmaceuticals market. With increasing pressure on the healthcare system, the government has implemented cost-saving measures, such as restricting access to certain prescription medications. This has further fueled the demand for OTC products as consumers seek affordable and easily accessible alternatives. In conclusion, the OTC Pharmaceuticals market in United Kingdom is driven by customer preferences for self-medication, the convenience of OTC products, and the increasing healthcare costs. The growing demand for non-prescription pain relievers, cough/cold remedies, and natural OTC products reflects the changing needs and preferences of consumers. The availability of a wide range of OTC products in pharmacies and supermarkets, coupled with the burden on the healthcare system, has further contributed to the growth of the market.
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
- Demographics
- Sales Channels
- Global Comparison
- Methodology
- Key Market Indicators