OTC Pharmaceuticals - Japan

Japan

Revenue in the OTC Pharmaceuticals market amounts to US$8.47bn in 2024. The market is expected to grow annually by 3.69% (CAGR 2024-2029).
The market's largest segment is the segment Other OTC Pharmaceuticals with a market volume of US$2.26bn in 2024.
In global comparison, most revenue is generated in the United States (US$41,240m in 2024).
In relation to total population figures, per person revenues of US$69.03 are generated in 2024.
In the OTC Pharmaceuticals market, 23.5% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Analyst Opinion

The OTC Pharmaceuticals market in Japan has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in Japan have shifted towards self-medication and a desire for convenience.

As a result, there has been an increased demand for over-the-counter (OTC) pharmaceutical products that can be purchased without a prescription. Customers are seeking products that are easily accessible and provide quick relief for common ailments such as cold and flu symptoms, pain relief, and digestive issues. This preference for self-care has led to a surge in sales of OTC pharmaceuticals in Japan.

Trends in the OTC Pharmaceuticals market in Japan reflect the global market, with a focus on natural and herbal remedies, as well as products that promote overall health and wellness. Japanese consumers are increasingly seeking out products with natural ingredients, as they are perceived to be safer and have fewer side effects compared to traditional pharmaceuticals. This trend has led to the introduction of a wide range of herbal supplements, vitamins, and natural remedies in the OTC market in Japan.

Additionally, there is a growing demand for products that address specific health concerns such as sleep disorders, stress management, and immune system support. Local special circumstances in Japan have also contributed to the development of the OTC Pharmaceuticals market. The aging population in Japan has led to an increased prevalence of chronic diseases and conditions, which has created a need for accessible and affordable healthcare solutions.

OTC pharmaceuticals provide a cost-effective option for managing these conditions, as they can be purchased without a prescription and are often less expensive than prescription medications. The government has also taken steps to promote the use of OTC pharmaceuticals by expanding the list of approved OTC drugs and implementing regulations to ensure their safety and efficacy. Underlying macroeconomic factors have also played a role in the growth of the OTC Pharmaceuticals market in Japan.

The country's strong economy and high disposable income levels have allowed consumers to prioritize their health and wellness, leading to increased spending on OTC pharmaceuticals. Additionally, advancements in technology and e-commerce have made it easier for consumers to access and purchase OTC products, further driving market growth. In conclusion, the OTC Pharmaceuticals market in Japan has experienced significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

The shift towards self-medication, the demand for natural and herbal remedies, the aging population, and the country's strong economy have all contributed to the development of this market. As customer preferences continue to evolve and new trends emerge, the OTC Pharmaceuticals market in Japan is expected to continue its growth trajectory.

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.