Spain occupies over 80% of the land on the Iberian Peninsula with over 46.7 million people spread across approximately 505,000 km². In 2012 the pharmaceutical market size in Spain was about US $22 billion, with an OTC-to-Rx ratio of 11:89. The OTC sector itself was worth US $2.15 billion in 2012.
In Spain medications require co-pays, with patients contributing 40% to the medicine price and pensioners exempt from out-of-pocket payment. The value-added tax for medicine in Spain is 4%.
There are around 21,166 farmácias in Spain, with one pharmacy for every 2,200 inhabitants. This is lower than the EU average of 3,200 inhabitants per pharmacy. However, the Spanish pharmacy system is highly regulated, with no branch pharmacies and, because multiple ownership is prohibited, no pharmacy chains.
With an average growth rate of 2.3%, the OTC sector in Spain is expected to reach US $2.32 billion by 2018. Beyond these statistics, the marketplace also offers space for the introduction of new products.