The size of the Middle East and Africa over-the-counter Drugs Market was estimated at USD 5.60 Million in 2022. It is further projected to grow and worth USD 7.81 Million by 2027, growing at a CAGR of 6.88% between 2022 to 2027.
The growth drivers of the Middle East and Africa (MEA) over the counter (OTC) drugs market are product innovation, high penetration in emerging markets, a favorable regulatory framework, and the trend for pharmaceutical companies to move from prescription to OTC.
Over the next few years, the MEA over-the-counter (OTC) drugs market is likely to record the highest growth rates in emerging markets like South Africa, Kuwait, Iran, etc. This, coupled with the growth of the middle class and the increase in the disposable income of the population in these regions, are supposed to be increasing the availability of OTC drugs. In the sales channels, supermarkets contribute to over-the-counter market growth as new channels for emerging markets enter the barrier-free market.
With the advances in technology and product innovation, SMEs are increasing their market presence by introducing new products at lower prices.
Strong growth is anticipated from the growth of the healthcare industry and increased government investment in the development of the healthcare industry. OTC drug markets in countries such as UAE, Saudi Arabia, and South Africa are expected to grow at a high rate during the forecast period due to increasing awareness of over-the-counter drugs in treating minor health problems. Other factors driving the Middle East and Africa OTC drugs market are cultural perception changes, including self-medication for mild health problems, the convenience of direct purchase, affordable drugs, high adoption, and acceptance. The use of belts will include future savings as well as drug innovation and development.
The market for over-the-counter drugs is very competitive and includes several key players. The intense market competition, coupled with the side effects associated with a few pills, can hamper the rapid expansion of this regional market.
This research report on the MEA OTC Drugs Market has been segmented and sub-segmented into the following categories:
By Product Type:
By Formulation Type:
By Distribution Channels:
The Middle East and Africa, over-the-counter drugs market, is likely to record a considerable growth rate in the coming years. The growth of the middle class, increase in disposable income, rapid population growth, and the increasing availability of OTC drugs are aspects driving the demand in the local market. Accessibility of supermarkets and emerging retail channels are also contributing to the growth of the OTC drugs market in the MEA. The major contributors to the OTC drugs business in the area are United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Egypt, South Africa, and others. Increasing consumer awareness will play a vital role in business expansion in the outlook period.
Africa is a newly emerging market in OTC drugs, as most of the African nations are under-developed. Amongst the developing countries, South Africa is said to be the leading contributor to the African market. The major problem prevailing in the African market is drug substance abuse. Codeine used in Broncleer cough syrup is banned in South Africa, as it is considered the most abused OTC drug.
Notable companies leading in the MEA over-the-counter Drugs Market profiled in the report are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi, and Takeda.
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