Spain Over-the-Counter (OTC) Drugs Market - Growth, Trends, and Forecasts (2020 - 2025)

The Spanish over-the-counter (OTC) drugs market is expected to register a CAGR of around 3.5% over the forecast period. Factors that are propelling the growth of this market include product innovation, growing distribution channels, an inclination of the pharmaceutical companies from Rx to OTC drugs, and increasing self-medication among the general population.

• The rising healthcare costs demand the need for better accessibility and affordability of healthcare services. Self-medication with non-prescription drugs plays an important role in this aspect and helps improve the accessibility and cost benefits of healthcare services. There is an increase in self-medication in European countries, including Spain. 
• According to the Association of the European Self-medication Industry, one out of two packages of medicines sold in Europe is a non-prescription medicinal product. By allowing citizens to address their conditions by themselves when medical advice is not necessary, self-medication produces significant public health and economic benefits for societies. It reduces a significant burden on healthcare systems, allowing health professionals to counsel patients in need of professional care.
• Based on a recent report by Pfizer, nine out of 10 consumers in the European countries (Spain France, and Germany) view self-care as a vital part of the management and prevention of both minor ailments and chronic conditions and diseases. OTC medicines help fulfill a growing consumer appetite for self-care. Because of these multiple benefits, increase in self-medication is expected to continue to drive the growth of the Spanish OTC drugs market.