OTC Pharmaceuticals - China

China

Revenue in the OTC Pharmaceuticals market amounts to €28.53bn in 2024. The market is expected to grow annually by 5.80% (CAGR 2024-2029).
The market's largest segment is the segment Cold & Cough Remedies with a market volume of €8.05bn 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 €19.91 are generated in 2024.
In the OTC Pharmaceuticals market, 30.4% of total revenue will be generated through online sales by 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The OTC Pharmaceuticals market in China has been experiencing significant growth in recent years. Customer preferences in the OTC Pharmaceuticals market in China have been shifting towards self-medication and convenience.

With the increasing awareness of health and wellness, consumers are becoming more proactive in managing their own health. They are seeking OTC medications that can treat common ailments and symptoms without the need for a prescription. Additionally, consumers are looking for products that are easy to use and readily available, such as over-the-counter medicines that can be purchased at pharmacies or online.

Trends in the OTC Pharmaceuticals market in China include the rise of e-commerce and digital platforms. Online shopping has become increasingly popular in China, and this trend has extended to the healthcare sector. Consumers are now able to purchase OTC medications online, making it more convenient and accessible.

Furthermore, digital platforms provide consumers with a wealth of information about different OTC products, allowing them to make more informed decisions about their healthcare. Another trend in the OTC Pharmaceuticals market in China is the increasing demand for natural and herbal remedies. Chinese consumers have a long history of using traditional Chinese medicine, and this preference for natural remedies has carried over to the OTC market.

Consumers are seeking OTC products that are derived from natural ingredients and have fewer side effects. This trend is also driven by the growing interest in alternative medicine and holistic health practices. Local special circumstances in the OTC Pharmaceuticals market in China include the regulatory environment.

The Chinese government has implemented stricter regulations on the OTC market in recent years, in order to ensure the safety and efficacy of these products. This has led to a more standardized and regulated market, which is beneficial for both consumers and manufacturers. However, these regulations can also pose challenges for companies looking to enter the market or expand their product offerings.

Underlying macroeconomic factors that are driving the growth of the OTC Pharmaceuticals market in China include the country's aging population and rising disposable income. As the population ages, there is a greater demand for healthcare products and services, including OTC medications. Additionally, as disposable income increases, consumers have more money to spend on healthcare and wellness products.

In conclusion, the OTC Pharmaceuticals market in China is experiencing growth due to customer preferences for self-medication and convenience, as well as trends such as the rise of e-commerce and the demand for natural remedies. Local special circumstances, such as the regulatory environment, and underlying macroeconomic factors, such as an aging population and rising disposable income, are also contributing to the market's development.

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.