Spain Over the Counter Drugs Market Size, Share & Trends 2031
Spain Over the Counter Drugs Market Size, Share & Trends 2031
Segments - Spain Over-the-counter Drugs Market by Distribution Channels (Online Pharmacies, Retail Pharmacies, and Others), Products (Weight-loss/Dietary Products, Dermatology Products, Ophthalmic Products, Cough, Cold & Flu Products, Analgesics, Gastrointestinal Products, Vitamin, Mineral, and Supplement Products, Sleeping Aids, and Others), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-4046
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| 212 Pages
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Report Description
Spain Over the Counter Drugs Market Outlook 2031
The Spain Over-the-counter Drugs Market size was valued at USD 4.13 Billion in 2022 and is likely to reach USD 6.63 Billion by 2031 expanding at a CAGR of 5.4 % during the forecast period, 2023 – 2031.
Over-the-counter or OTC drugs are medicines offered directly to consumers without the need for a prescribed medication from a doctor or healthcare practitioner. Prescription drugs, on the other hand, are only available to consumers who have a valid prescription.
OTC medications are chosen by regulatory agencies in many countries to guarantee that it contains compounds that are safe and effective when taken without the supervision of a physician.
The active pharmaceutical ingredient (API) of over-the-counter medications is usually regulated rather than the end product. Governments allow firms to synthesize combinations of ingredients or chemicals into proprietary mixes by regulating APIs instead of specific medication compositions.
The impact of COVID-19 pandemic has been positive on the over-the-counter drugs market. The trend of self-medication has been considered to induce dramatically during the pandemic as a large number of the population of Spain are usually avoiding clinic and hospital visits unless absolutely necessary.
Spain Over the Counter Drugs Market Trends, Drivers, Restraints, and Opportunities
- Growing trend of self-medication among old-age population in the country is one of the key factors driving the market.
- Wide prevalence of chronic diseases and significant cost savings due to easy availability of OTC drugs is expected to boost the market in the coming years.
- Rapid expansion of the pharmaceutical companies manufacturing OTC drugs is anticipated to propel the market during the projected period.
- Several concerns pertaining to substance abuse and incorrect diagnosis act as major challenge. This is anticipated to hamper the market growth in the projected period.
- Affordability and easy accessibility of OTC products is projected to create significant growth opportunities for the market in the near future.
Scope of Spain Over the Counter Drugs Market Report
The report on the Spain over-the-counter drugs market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Over-the-counter Drugs Market - Spain Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Distribution Channels (Online Pharmacies, Retail Pharmacies, and Others) and Products (Weight-loss/Dietary Products, Dermatology Products, Ophthalmic Products, Cough, Cold & Flu Products, Analgesics, Gastrointestinal Products, Vitamin, Mineral, and Supplement Products, Sleeping Aids, and Others) |
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Country |
Spain |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Sanofi S.A.; Bayer AG; GlaxoSmithKline plc.; Reckitt Benckiser Group PLC; and Pfizer Inc. |
Spain Over the Counter Drugs Market Segment Insights
Retail pharmacies segment to grow at a rapid pace
Based on distribution channels, the Spain over-the-counter drugs market is divided into online pharmacies, retail pharmacies, and others. The retail pharmacies segment is expected to grow at a rapid pace during the forecast period owing to less clinic and hospital visits. Additionally, rising patient preference for stores & retail pharmacies is expected to boost the segment further.
However, the online pharmacies segment is anticipated to hold a key share of the market in the coming years due to growing access of pharmaceutical related online applications into smartphones.
Cough, cold & flu products segment to expand at a considerable CAGR
On the basis of products, the market is segregated into weight-loss/dietary products, dermatology products, ophthalmic products, cough, cold & flu products, analgesics, gastrointestinal products, vitamin, mineral, and supplement products, sleeping aids, and others. The cough, cold & flu products segment is projected to expand at a considerable CAGR during the forecast period attributed to rise in the number of individuals affected by these conditions.
On the other hand, the vitamin, mineral, and supplement products segment is anticipated to account for a major market share during the forecast period as these drugs are readily available and can be consumed without any specific prescription by the doctors.
Segments
The Spain over-the-counter drugs market has been segmented on the basis of
Distribution Channels
- Online Pharmacies
- Retail Pharmacies
- Others
Products
- Weight-loss/Dietary Products
- Dermatology Products
- Ophthalmic Products
- Cough
- Cold & Flu Products
- Analgesics
- Gastrointestinal Products
- Vitamin, Mineral, and Supplement Products
- Sleeping Aids
- Others
Country
- Spain
Key Players
- Sanofi S.A.
- Bayer AG
- GlaxoSmithKline plc.
- Reckitt Benckiser Group PLC
- Pfizer Inc.
Competitive Landscape
Key players competing in the Spain over-the-counter drugs market are Sanofi S.A.; Bayer AG; GlaxoSmithKline plc; Reckitt Benckiser Group PLC; and Pfizer Inc. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives such as partnerships, collaborations, and mergers & acquisitions.
Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.
For instance, in January 2021, Pfizer Inc. spent an estimated of USD 120 million in four different clinical-stage biotech businesses as part of the Pfizer Breakthrough Growth Initiative (PBGI) programs. In September 2020, Sanofi S.A. obtained Principia Biopharma Inc. for USD 100 per share in cash to bolster its autoimmune and allergy disease portfolio.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Over-the-counter Drugs Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Over-the-counter Drugs Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Over-the-counter Drugs Market - Supply Chain
4.5. Global Over-the-counter Drugs Market Forecast
4.5.1. Over-the-counter Drugs Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Over-the-counter Drugs Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Over-the-counter Drugs Market Absolute $ Opportunity
5. Global Over-the-counter Drugs Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Over-the-counter Drugs Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Over-the-counter Drugs Demand Share Forecast, 2019-2026
6. North America Over-the-counter Drugs Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Over-the-counter Drugs Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Over-the-counter Drugs Demand Share Forecast, 2019-2026
7. Latin America Over-the-counter Drugs Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Over-the-counter Drugs Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Over-the-counter Drugs Demand Share Forecast, 2019-2026
8. Europe Over-the-counter Drugs Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Over-the-counter Drugs Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Over-the-counter Drugs Demand Share Forecast, 2019-2026
9. Asia Pacific Over-the-counter Drugs Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Over-the-counter Drugs Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Over-the-counter Drugs Demand Share Forecast, 2019-2026
10. Middle East & Africa Over-the-counter Drugs Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Over-the-counter Drugs Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Over-the-counter Drugs Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Over-the-counter Drugs Market: Market Share Analysis
11.2. Over-the-counter Drugs Distributors and Customers
11.3. Over-the-counter Drugs Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Sanofi S.A.
11.4.2. Bayer AG
11.4.3. GlaxoSmithKline plc.
11.4.4. Reckitt Benckiser Group PLC
11.4.5. Pfizer Inc.
Methodology
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