OTC Pharmaceuticals - Germany

  • Germany
  • Revenue in the OTC Pharmaceuticals market amounts to €9.54bn in 2024. The market is expected to grow annually by 3.02% (CAGR 2024-2029).
  • The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of €4.03bn 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 €114.60 are generated in 2024.
  • In the OTC Pharmaceuticals market, 14.4% 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 Germany is experiencing steady growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Germany play a significant role in shaping the OTC Pharmaceuticals market.

German consumers value convenience and self-care, which has led to an increased demand for over-the-counter medications. Many Germans prefer to treat minor ailments themselves rather than visit a doctor, and OTC medications provide them with a convenient and accessible option. Additionally, the aging population in Germany has contributed to the growth of the OTC Pharmaceuticals market, as older individuals often require medications for chronic conditions that can be managed with over-the-counter products.

Trends in the market also contribute to the development of the OTC Pharmaceuticals market in Germany. One notable trend is the growing popularity of natural and herbal remedies. German consumers are increasingly seeking out alternative and holistic approaches to healthcare, leading to a rise in demand for OTC products that are perceived as more natural and less chemically-based.

This trend has prompted pharmaceutical companies to develop and market a wider range of natural and herbal OTC products to cater to this demand. Local special circumstances in Germany further impact the OTC Pharmaceuticals market. The German healthcare system places a strong emphasis on self-care and prevention, which aligns with the use of over-the-counter medications.

The availability and accessibility of OTC products in pharmacies and supermarkets also contribute to the market's growth. Additionally, Germany has a well-established regulatory framework for OTC medications, ensuring their safety and quality. This regulatory environment instills confidence in consumers and encourages them to purchase OTC products.

Underlying macroeconomic factors also play a role in the development of the OTC Pharmaceuticals market in Germany. The country's strong economy and high disposable income levels enable consumers to afford OTC medications. Furthermore, the healthcare system in Germany provides limited coverage for certain prescription medications, making OTC alternatives more attractive from a cost perspective.

This combination of economic factors and healthcare coverage contributes to the sustained growth of the OTC Pharmaceuticals market. In conclusion, the OTC Pharmaceuticals market in Germany is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for convenience and self-care, the popularity of natural and herbal remedies, the emphasis on self-care in the healthcare system, and the country's strong economy all contribute to the market's positive trajectory.

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.

Visión general

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