OTC Pharmaceuticals - LATAM

  • LATAM
  • The OTC Pharmaceuticals market in LATAM is projected to generate a revenue of €14.26bn in 2024.
  • This market is expected to experience a steady annual growth rate of 5.06% (CAGR 2024-2028).
  • Among the various categories within this market, Analgesics emerges as the largest, with a market volume of €2.98bn in 2024.
  • In terms of global comparison, the in the United States leads the way in revenue generation, with a staggering €38,250.00m in 2024.
  • However, when considering the per capita figures, in Latin America demonstrates a per person revenue of €22.43 in 2024, indicating the potential for further growth in this market in the region.
  • Furthermore, online sales are expected to play a significant role in the OTC Pharmaceuticals market, accounting for 13.99% of the total revenue by 2024.
  • This highlights the increasing preference for online purchasing channels in the region.
  • In LATAM, the OTC Pharmaceuticals market is experiencing a surge in demand for natural remedies and herbal supplements.

Key regions: United States, China, Germany, Japan, Europe

 
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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
  • Sales Channels
  • Global Comparison
  • Methodology
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