Market Insights Health Pharmacies OTC Products

Other OTC Pharmaceuticals (Pharmacies) - Brazil

Brazil

Revenue in the Other OTC Pharmaceuticals market is projected to reach €0.83bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.08%, resulting in a market volume of €0.92bn by 2029.
In global comparison, most revenue will be generated in the United States (€4,619.00m in 2024).
In relation to total population figures, per person revenues of €3.82 are generated in 2024.

Key regions: France, Australia, India, South Korea, Germany

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Other OTC Pharmaceuticals (Pharmacies) market in Brazil has been experiencing significant growth in recent years.

Customer preferences: Brazilian consumers have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors. Firstly, the convenience of purchasing OTC products directly from pharmacies without the need for a prescription appeals to consumers who prefer self-medication. Additionally, the affordability of OTC products compared to prescription medications makes them an attractive option for consumers seeking cost-effective healthcare solutions.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Brazil is the increasing demand for vitamins and dietary supplements. This can be attributed to the growing awareness among Brazilian consumers about the importance of maintaining a healthy lifestyle. As a result, there has been a surge in the consumption of vitamins and dietary supplements to supplement their diet and address specific health concerns. Another notable trend in the market is the rising popularity of natural and herbal remedies. Brazilian consumers are increasingly turning to traditional remedies and natural products for their healthcare needs. This can be attributed to a growing interest in alternative medicine and a desire for more holistic approaches to healthcare. As a result, there has been a significant increase in the demand for natural and herbal OTC products in Brazil.

Local special circumstances: Brazil has a large and diverse population, with varying healthcare needs and preferences. This diversity is reflected in the Other OTC Pharmaceuticals (Pharmacies) market, where a wide range of products cater to different consumer segments. For example, there are OTC products specifically targeted at children, women, and the elderly. This segmentation allows pharmacies to effectively meet the specific needs of different consumer groups and cater to their preferences.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Brazil. Firstly, the country's improving economic conditions have led to increased disposable income among consumers, enabling them to spend more on healthcare products. Additionally, Brazil's aging population has created a growing demand for OTC pharmaceuticals, particularly among the elderly who require regular medication for chronic conditions. Lastly, the government's efforts to improve access to healthcare and promote self-medication have also played a role in driving the growth of the OTC market in Brazil. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Brazil is experiencing significant growth due to customer preferences for convenience and affordability, as well as the rising popularity of vitamins, dietary supplements, and natural remedies. The local special circumstances of a diverse population with varying healthcare needs and preferences further contribute to the growth of the market. Additionally, underlying macroeconomic factors such as improving economic conditions, an aging population, and government initiatives have also fueled the growth of the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.