OTC Pharmaceuticals - Malaysia

Malaysia

Revenue in the OTC Pharmaceuticals market amounts to €816.00m in 2024. The market is expected to grow annually by 5.25% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of €303.20m in 2024.
In global comparison, most revenue is generated in the United States (€37,850m in 2024).
In relation to total population figures, per person revenues of €23.53 are generated in 2024.
In the OTC Pharmaceuticals market, 12.4% 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.
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Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The OTC Pharmaceuticals market in Malaysia has been experiencing steady growth in recent years.

Customer preferences: Customers in Malaysia have shown a growing preference for over-the-counter (OTC) pharmaceuticals due to their convenience and accessibility. OTC medications are readily available in pharmacies, supermarkets, and convenience stores, allowing consumers to easily purchase them without the need for a prescription. Additionally, the increasing awareness and knowledge about self-medication have contributed to the rising demand for OTC pharmaceuticals in the country.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in Malaysia is the growing demand for herbal and traditional medicines. Malaysians have a long-standing tradition of using natural remedies for various health issues, and this preference has translated into a significant market for herbal and traditional OTC medications. Consumers are increasingly seeking natural alternatives to conventional pharmaceuticals, driven by the belief in their efficacy and safety. Another trend in the market is the rising popularity of OTC medications for preventive healthcare. As Malaysians become more health-conscious, they are proactively seeking ways to maintain their well-being and prevent illnesses. This has led to an increased demand for OTC products such as vitamins, supplements, and preventive medications. Consumers are willing to invest in these products as part of their overall health management strategy.

Local special circumstances: One of the unique factors influencing the OTC Pharmaceuticals market in Malaysia is the country's multicultural population. Malaysia is home to diverse ethnic groups, each with its own traditional remedies and healthcare practices. This diversity has created a market for OTC products that cater to specific cultural and traditional healthcare needs. Manufacturers and retailers are capitalizing on this by offering a wide range of products that cater to different ethnic groups.

Underlying macroeconomic factors: The growing middle-class population and increasing disposable income in Malaysia have played a significant role in the development of the OTC Pharmaceuticals market. As more Malaysians have the financial means to afford healthcare products, they are willing to spend on OTC medications for their health and well-being. Additionally, the government's initiatives to improve healthcare infrastructure and promote self-medication have also contributed to the growth of the market. In conclusion, the OTC Pharmaceuticals market in Malaysia is experiencing growth due to customer preferences for convenience and accessibility, the increasing demand for herbal and traditional medicines, the rise in preventive healthcare practices, the multicultural population, and the country's favorable macroeconomic factors. These factors are expected to continue driving the market's development 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.