Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "UAE Over the Counter (OTC) Drugs Market, By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
UAE Over the Counter (OTC) Drugs Market was valued at USD 2.79 billion in 2023 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 5.73% through 2029
Over the Counter (OTC) drugs refer to medications that are available for purchase without a prescription from a healthcare professional. These drugs are intended for the treatment of common health conditions and the management of minor ailments. Unlike prescription medications, which require a prescription from a licensed healthcare provider, OTC drugs can be bought directly by consumers from pharmacies, grocery stores, or other retail outlets.
OTC drugs are easily accessible to consumers without the need for a prescription. They are typically displayed on shelves in pharmacies or designated sections of retail stores. OTC drugs are designed to address a variety of common health issues and symptoms, including pain, fever, cough, cold, allergies, indigestion, and minor skin conditions. Consumers can purchase and use OTC drugs for self-medication without consulting a healthcare professional. This allows individuals to manage minor health concerns independently. 
Increasing awareness of health and wellness among consumers drives the demand for OTC drugs. Consumers are becoming more proactive in managing their health and seeking self-care solutions. OTC drugs are readily available without the need for a prescription, providing consumers with convenient access to a variety of medications for common health issues. Modern lifestyles, characterized by stress, sedentary behavior, and irregular eating habits, contribute to the demand for OTC drugs.
Products addressing issues like insomnia, stress, and digestive problems become popular. The rising interest in sports and fitness activities has led to increased demand for OTC drugs related to sports nutrition, pain relief, and joint health. Continuous innovation in OTC drug formulations, delivery methods, and packaging contributes to consumer interest and market expansion. Cultural factors, including preferences for traditional remedies or acceptance of modern healthcare practices, can influence OTC drug consumption patterns.
Key Market Drivers
Increasing Consumer Health Awareness
Consumer awareness drives a shift towards preventive healthcare. Rather than waiting for severe symptoms, individuals are inclined to address health concerns at an early stage, leading to the increased use of OTC drugs for preventive purposes. Awareness of lifestyle-related health issues, such as stress, sleep disorders, and dietary concerns, prompts individuals to seek OTC solutions. Products addressing these lifestyle challenges become popular in response to consumer demand.
Social media platforms play a role in disseminating health-related information. Influencers, healthcare professionals, and health-focused communities contribute to spreading awareness and recommending OTC products. Public health campaigns and initiatives contribute to consumer education. These campaigns may be conducted by government health agencies, pharmaceutical companies, or healthcare organizations, aiming to inform the public about OTC options and responsible self-care.
Growing Lifestyle Factors
Modern lifestyles often come with high levels of stress and anxiety due to work pressures, personal responsibilities, and other factors. OTC drugs such as stress-relief supplements or sleep aids may be sought after to manage these issues. Busy schedules, shift work, and increased screen time can contribute to irregular sleep patterns.
OTC sleep aids and remedies for insomnia may be in demand among individuals looking to improve their sleep quality. Fast-paced lifestyles and reliance on processed foods may lead to dietary imbalances and nutritional deficiencies. Consumers may turn to OTC vitamins and supplements to address these gaps in nutrition. Sedentary lifestyles and lack of physical activity can contribute to various health issues, including musculoskeletal problems. OTC pain relievers and anti-inflammatory medications may be used to manage discomfort and pain.
E-commerce Growth
The rise of e-commerce platforms enables consumers to purchase OTC drugs online, providing a convenient alternative to traditional brick-and-mortar pharmacies. E-commerce platforms make OTC drugs more accessible to a broader audience, including individuals in remote areas who may have limited access to physical pharmacies. Online purchasing offers convenience for consumers who can order OTC drugs from the comfort of their homes. This is particularly beneficial for those with busy schedules or mobility constraints.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 83 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $2.79 Billion |
| Forecasted Market Value (USD) by 2029 | $3.88 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | United Arab Emirates |
Report Scope:
Key Market Players
- Bayer Middle East FZE
- Novartis Middle East FZE
- GlaxoSmithKline (UAE)
- Sun Pharma Global FZE
- Johnson & Johnson Middle East
- Julphar Gulf Pharmaceutical Industries
- Pfizer Inc. (UAE)
- Galderma International SAS
- Sanofi UAE
Over the Counter (OTC) Drugs Market, By Product Type:
- Cough, Cold and Flu
- Vitamins, Mineral, and Supplements (VMS)
- Analgesics
- Gastrointestinal Products
- Dermatology Products
- Others
Over the Counter (OTC) Drugs Market, By Route of Administration:
- Oral
- Topical
- Parenteral
Over the Counter (OTC) Drugs Market, By Dosage Form:
- Tablets
- Capsules
- Liquids & Solution
- Creams/Lotions/Ointments
- Others
Over the Counter (OTC) Drugs Market, By Distribution Channel:
- Retail Pharmacy
- Hospital Pharmacy
- E-Pharmacy
Over the Counter (OTC) Drugs Market, By region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
For more information about this report visit https://www.researchandmarkets.com/r/c6h3ks
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
