Egypt’s OTC drugs market size stood at USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Over-the-counter drugs are sold to the customer without a prescription from the doctor. They are typically used for minor health problems and are available at local pharmacies and shops. They are safe and effective when consumed according to the physician’s directions. OTC drugs can be readily available in pharmacies and online health websites worldwide. Over-the-counter drugs are generally taken off the shelf. OTC drugs also include dietary supplements which are intended to deliver desired nutrients to the body to increase the quantity of an individual’s diet.
In Egypt, although some form of subsidized healthcare to be introduced in the long run is expected, interest in OTCs is changing, with customers moving away from essential medicines like analgesics and into more evolved therapeutic categories like dermatological, digestives, and vitamins.
Egypt’s OTC drug sector will continue to grow as rising health awareness and self-medication practices become more popular. Increasing awareness regarding health and willingness towards self-medication are key growth factors. Factors related to urbanization such as increasing pollution, and other lifestyle disorders and needs will also help drive the OTC sector in Egypt in the forecast period.
OTC medicines are especially helmed by low-income households and people without health insurance. With customers moving away from essential medicines like analgesics, into more evolved therapeutic categories like dermatological, digestives, and vitamins, interest in OTCs is changing. Due to this development, the OTC market will be well-placed to take advantage of Egypt’s growing middle class and increasingly affluent population over the medium to long term, despite the dominance of prescription medicines.
The OTC healthcare market, despite its relatively large size, suffers from an absence of advertising and consumer-orientated marketing.