(PharmaNewsWire.Com, February 14, 2024 ) As per Maximize Market research, China Over the Counter Pharmaceuticals Market was USD 32.20 Billion in 2023 and is expected to grow at a CAGR of 7.02 percent over the forecast period to reach USD 51.77 Billion by 2030.
China Over the Counter Pharmaceuticals Market Report Scope and Research Methodology
The research methodology involves extensive primary and secondary research, data collection, and analysis techniques. It caters to stakeholders seeking strategic information on the Chinese ambulance services market for informed decision-making and business planning. The scope includes market size, segmentation based on service types and regions, and competitive landscape analysis.
China Over the Counter Pharmaceuticals Market Dynamics
The surge in e-commerce platforms, led by Alibaba's Tmall Health and JD.com's Health channel, has revolutionized OTC pharmaceutical distribution in China, capturing a remarkable 73% market share. This growth is driven by consumer preference for online convenience. With rising disposable incomes, Chinese consumers are investing 29% more in 2023 on vitamins and supplements.
China Over the Counter Pharmaceuticals Market Segment Analysis
Based on product type the Cough, Cold, and Flu Products segment held the largest market share in 2023. The surge in online purchasing reflects consumer preferences for convenience, diverse product options, and swift delivery. With improving living standards, there's a significant uptick in spending on OTC products.
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
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