UAE Over the Counter (OTC) Drugs Market to Reach USD766.15 million By 2027

 Increasing Inclination towards self-medication and low cost of OTC drugs are driving the growth of UAE Over the Counter (OTC) Drugs Market in the forecast period, 2023-2027.


According to TechSci Research report, “UAE Over the Counter (OTC) Drugs Market – By Region, Forecast & Opportunities, 2017-2027”, the UAE Over the Counter (OTC) Drugs Market stood at USD552.11 million in 2021 and is anticipated to reach USD766.15 million by 2027. This can be attributed to the growing demand for Over the Counter (OTC) drugs among the population.


Growth prospects for the OTC drugs sector is boosting in the UAE. Pharmaceutical and healthcare products are frequently seen as necessities of life, and as a result, their sales remain consistent regardless of the state of the economy. The demand for OTC drugs will rise because of the aging population, mandated health insurance for ex-pats, and the spread of chronic diseases like diabetes and heart disease. The overall health expenditure is expected to rise over the next few decades. It is possible that encouraging domestic manufacturing could lower some health expenses and boost exports. Pharmaceutical businesses are being pushed to reduce prices by growing demand for affordable, effective medications and consumer preference for over-the-counter products. The UAE government is trying to manufacture more medicines domestically rather than relying on imports. However, wrong medications due to incorrect self-diagnosis/ self-misdiagnosis and medication wastage, which is defined as any drug product dispensed by prescription or purchased as an OTC medication that is never fully consumed, are just a few of the factors that hinder the growth of the Over The Counter (OTC) Drugs Market.




Browse over 32 market data Figures spread through 70 Pages and an in-depth TOC on "UAE Over the Counter (OTC) Drugs Market"


The UAE Over the Counter (OTC) Drugs Market is segmented into product type, route of administration, dosage form, distribution channel, region, and by company. Based on product type, the market is segmented into cough, cold and flu; vitamins, mineral, and supplements (VMS); analgesics; gastrointestinal products; dermatology products; others (antibiotics, antifungal, laxatives etc.). The top three product types which will dominate the market are cough, cold and flu; vitamins, mineral, and supplements (VMS); analgesics owing to the increase in occurrence of common cold and cough, high demand for energy products and weight management supplements and demand for pain relief products among the geriatric population.


Based on the route of administration, the market is segmented into oral, topical, parenteral. The oral route for drug administration dominated the market in 2021 and is anticipated to maintain its dominance during the forecast period. The oral route is the easy way to administer drugs especially at home as it is the easiest way to intake any drug of solid and liquid form in case of self-medication. The other benefits include safety, excellent patient compliance, convenience of swallowing, pain avoidance, and simplicity of use.


Based on dosage form, tablets are dominating the market as these dosage forms are the lightest and the most compact of all dosage forms and accounted for the largest market share of 36.98% 2021 and is expected to be the dominating dosage form in the forecast years and will assist the growth of UAE Over the Counter (OTC) Drugs Market.


The leading companies operating in the UAE Over the Counter (OTC) Drugs Market are:

  • Bayer Consumer Health
  • Novartis Middle East
  • GlaxoSmithKline & Neopharma
  • Sun Pharma Global FZE
  • Johnson & Johnson Middle East
  • Julphar Gulf Pharmaceutical Industries
  • Cipla FZE
  • Pfizer Inc.
  • Galderma SA
  • Sanofi UAE


UAE Over the Counter (OTC) Drugs Market is a highly fragmented market with few established companies holding significant share in the industry followed by several domestic players. However, the market is highly dependent on imports, especially from China.
 

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“The industry revenue is increasing as consumers are becoming more aware of their vulnerability to diseases and the value of preventative care and over-the-counter treatments for minor ailments. This has caused some consumer health trends in the UAE to pick up speed, including the popularity of self-care, the emergence of e-pharmacies, and an increase in new releases in OTC drugs. OTC medications are more affordable and provide first-line treatment for many common illnesses, which is why there is a growing trend away from prescription drugs. As a result, fewer people are visiting the doctor, increasing market sales prospects. Although it is a highly regulated and scientifically rigorous procedure, the move of effective prescription pharmaceuticals to nonprescription, over-the-counter status for treating common ailments is gaining momentum since it relieves a significant burden from the healthcare system.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“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), 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, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of The UAE Over The Counter (OTC) Drugs Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge 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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