UAE Over the Counter (OTC) Drugs Market to grow with a CAGR of 6.58% through 2029
Increasing healthcare
infrastructure and a supportive regulatory environment are the major drivers
for the UAE Over the Counter (OTC) Drugs Market.
According to TechSci Research
report, “UAE Over the Counter (OTC) Drugs Market Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2019-2029”, UAE Over the Counter (OTC) Drugs Market was valued at USD 1.80 billion in 2023 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 6.58% through 2029. This can be due to collaborations and
partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market.
The aging population is a
significant driver of the demand for Over the Counter (OTC) Drugs. As
individuals age, they often encounter specific health challenges and conditions
that lead to an increased need for self-care and symptom management. With
aging comes an increased likelihood of chronic health conditions such as
arthritis, diabetes, and cardiovascular diseases. OTC drugs addressing symptoms
associated with these conditions, such as pain relievers and antidiabetic
medications, become essential for daily management. Aging often brings about
joint pain, arthritis, and other musculoskeletal issues. OTC pain relievers,
anti-inflammatory drugs, and joint supplements are commonly sought after by the
elderly population for relief. Seniors may experience digestive problems such
as indigestion, constipation, or acid reflux. OTC antacids, laxatives, and
digestive aids can provide relief for these common issues.
Aging is associated with a
higher risk of osteoporosis and bone-related issues. OTC calcium supplements,
vitamin D supplements, and bone health formulations become important for
maintaining bone strength. The aging population may seek OTC supplements
targeting cognitive health, memory support, and overall brain function as a
proactive measure against age-related cognitive decline. Age-related vision
issues, such as presbyopia or dry eyes, may lead seniors to use OTC eye drops,
vitamins, and supplements to support eye health.
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Supply
chain disruptions pose significant challenges in the UAE Over the Counter (OTC)
Drugs Market, affecting the availability, distribution, and pricing of OTC
medications. Many pharmaceutical
companies rely on a global network of suppliers and manufacturers for raw
materials and finished products. Disruptions in any part of this global supply
chain, such as transportation or manufacturing, can impact the availability of
OTC drugs. Transportation and logistics play a critical role in the
pharmaceutical supply chain. Disruptions in shipping, customs clearance, or
other logistical processes can lead to delays and shortages of OTC drugs in the
market. Changes in regulatory requirements, especially related to import/export
regulations, can lead to delays in getting OTC drugs to the market. Compliance
with evolving regulatory standards may take time and resources. Events such as
pandemics or health crises can disrupt supply chains by affecting workforce
availability, shutting down manufacturing facilities, or causing interruptions
in transportation and distribution networks.
UAE Over the Counter
(OTC) Drugs Market is segmented based on Product Type, Route of Administration, Dosage Form, Distribution Channel, Application, and
by region.
Based on the Product Type,
UAE Over the Counter (OTC) Drugs Market is segmented into (Cough, Cold and Flu;
Vitamins, Mineral, and Supplements (VMS); Analgesics; Gastrointestinal
Products; Dermatology Products; Others. Dermatology products in the Over the
Counter (OTC) Drugs Market specifically refer to medications and skincare
products designed to address various skin conditions and concerns. These
products are available for purchase without the need for a prescription,
allowing consumers to manage common skin issues independently. Dermatology OTC
products encompass a wide range of formulations, including creams, ointments,
lotions, gels, and cleansers. OTC antifungal creams are used to treat fungal
infections of the skin, including conditions like athlete's foot, ringworm, and
jock itch. These products often contain antifungal agents such as clotrimazole,
miconazole, or terbinafine.
In 2023, the UAE Over
the Counter (OTC) Drugs Market largest share was held by Retail Pharmacy
segment in the forecast period and is predicted to continue expanding over the
coming years. Retail pharmacies are
easily accessible to the general population. Their widespread presence in
various neighborhoods and communities makes it convenient for consumers to
purchase OTC drugs without the need for a prescription. Retail pharmacies often
build trust with consumers over time. Familiarity with a local pharmacy and the
ability to consult with pharmacists in person contribute to consumer confidence
in the quality and authenticity of OTC drugs. Retail pharmacies typically have
qualified pharmacists who can provide professional advice to customers. This
personalized guidance on the selection and usage of OTC drugs is valued by
consumers, especially when they seek recommendations for common health issues.
Retail pharmacies offer immediate availability of OTC drugs. Consumers can walk
into a pharmacy and obtain the medications they need on the spot, which is
especially important for individuals seeking quick relief from minor health
concerns. Retail pharmacies often stock a wide range of OTC drugs and
healthcare products. This diverse selection allows consumers to find the
specific medications they need, fostering customer loyalty to these
establishments.
Some of the major companies
operating in the UAE Over the Counter (OTC) Drugs Market include:
- 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
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“The UAE's Over the Counter
(OTC) drugs market is experiencing notable trends. With an increasing focus on
health and wellness, there's a rising demand for OTC medications offering
convenience and accessibility. Consumers are turning to self-care solutions for
common ailments, driving the market's growth. Moreover, the pandemic heightened
awareness, leading to a surge in purchases of immune-boosting supplements and
pain relievers. E-commerce platforms are becoming prominent avenues for OTC
purchases, providing a wide range of products at competitive prices. Regulatory
changes are also influencing the market, ensuring product safety and quality.
As the UAE continues its rapid modernization, the OTC drugs sector is set to
expand, catering to the evolving healthcare needs of its population.,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
“UAE Over the Counter
(OTC) Drugs Market Industry Size, Share, Trends, Opportunity, and Forecast,
2019-2029F Segmented By Product Type (Cough, Cold and Flu; Vitamins, Mineral,
and Supplements (VMS); Analgesics; Gastrointestinal Products; Dermatology
Products; Others), By Route of Administration (Oral, Topical, Parenteral), By
Dosage Form (Tablets, Capsules, Liquids & Solution,
Creams/Lotions/Ointments, Others), By Distribution Channel (Retail Pharmacy,
Hospital Pharmacy, E-Pharmacy), by region, and Competition”, has evaluated the future growth potential of UAE
Over the Counter (OTC) Drugs Market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide innovative market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in UAE
Over the Counter (OTC) Drugs Market.
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