Over The Counter (OTC) Drugs Market

Over The Counter (OTC) Drugs Market by Product Types (Analgesics, Cough, Cold, and Flu Products, Dermatology Products, Vitamins, Minerals, and Supplements (VMS), Gastrointestinal Products, Weight-loss/Dietary Products, Sleeping Aids, Ophthalmic Products, and Others), Distribution Channels (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-1118
  • Author: Growth Market Reports
  • Rating: 4.7
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  • No. Of Pages: 198
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The global over-the-counter (OTC) drugs market size is projected to expand at a high CAGR of 6% during the forecast period, 2021–2028. The growth of the market is attributed to the cost-benefit analysis, positive outcomes, and easy availability.
 

Over The Counter (OTC) Drugs Market Key Takeaways


Over-the-counter (OTC) drugs, often known as non-prescription medicine, are related to drugs that can be purchased without a prescription or permission. When used according to the guidelines on the label or as prescribed by a healthcare practitioner, they are both effective and safe. A wide range of over-the-counter drugs is used to relieve pains, itches, and aches. Some, such as dental decay and athlete's feet, treat and cure diseases. Other medications aid in the treatment of persistent issues such as migraines and allergies.

Market Trends, Drivers, Restraints, and Opportunities

  • Cost reductions from using OTC drugs resulted in lower drug costs as well as lower costs associated with the clinical visit is anticipated to spur the market expansion in the coming years.
  • Product developments, significant adoption in the growing market, a favorable regulatory structure, and pharmaceutical companies' preference for OTC pharmaceuticals over Rx drugs are key factors boosting the market growth during the forecast period.
  • Increasing elderly population, which is more prone to a variety of illnesses such as joint pains, as well as increased copyright expiries on prescription drugs are projected to fuel the market expansion in the coming years.
  • Substance addiction and lack of information, the danger of taking the wrong medicine or self-medicating, and strict regulations are expected to restrict the market expansion.
  • An emphasis on losing weight among people who are obese has led to a growing segment for vitamin supplements that are expected to offer immense opportunities for the market players.

Scope of the Report

The report on the global over-the-counter (OTC) drugs market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Over The Counter (OTC) Drugs Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

By Product Types (Analgesics, Cough, Cold, and Flu Products, Dermatology Products, Vitamins, Minerals, and Supplements (VMS), Gastrointestinal Products, Weight-loss/Dietary Products, Sleeping Aids, Ophthalmic Products, and Others), and Distribution Channels (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Takeda Pharmaceutical Company Limited.; Sanofi; Reckitt Benckiser Group PLC.; Pfizer Inc.; Perrigo Company plc,; Mylan N.V.; Johnson & Johnson Private Limited; GlaxoSmithKline plc.; and Bayer AG

 

Global Over The Counter (OTC) Drugs Market Segment Insights

Weight-loss/dietary products segment is projected to constitute a large market share
Based on product types, the global over-the-counter (OTC) drugs market is segmented into analgesics, cough, cold, and flu products, dermatology products, vitamins, minerals, and supplements (VMS), gastrointestinal products, weight-loss/dietary products, sleeping aids, ophthalmic products, and others. The weight-loss/dietary products segment is expected to hold a key share of the market during the forecast period owing to the general public's awareness of health is increasing, as is their consumption of fast food, which is directing to an increase in lifestyle-related illnesses. Various OTC drugs are more of a preventative nature than a cure or treatment for these diseases. As a result, the number of consumers is higher than the number of consumers for other indicators. Large consumer bases result in significant demand and, as a result, substantial raising revenue.

On the other hand, the vitamins, minerals, and supplements (VMS) segment is anticipated to expand at a rapid pace during the forecast period due to the large consumer base for diverse products in this segment is the cause for this significant market share. Owing to the growing number of ill people in developed countries, VMS products have become quite popular. The most significant contributors to the entire market are VMS and weight loss/dietary products OTC medications. These two categories account for approximately a quarter of the market.
 

Over The Counter (OTC) Drugs Market  By product Types


Retail pharmacies segment is expected to register at a robust pace
On the basis of distribution channels, the market is segregated into hospital pharmacies, online pharmacies, retail pharmacies, and others. The retail pharmacies segment is expected to account for a key share of the market in the coming years due to the growing number of retail pharmacies that offer over-the-counter (OTC) drugs and the growing patient demand for these products in stores and retail pharmacies.

However, the hospital pharmacies segment is anticipated to expand at a rapid pace during the forecast period owing to increased access to OTC drugs and the presence of alternative OTC drugs.

North America is anticipated to dominate the market
On the basis of regions, the over-the-counter (OTC) drugs market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at an impressive CAGR during the forecast period. The regional market growth can be attributed to the growing preferences among pharmaceutical companies to shift from prescriptions to over-the-counter treatments, as well as increased drug discovery and accessibility. According to the National Institute of Health report, 93 percent of adults in the United States choose to treat minor illnesses with over-the-counter drugs before seeking medical attention.
 

Over The Counter (OTC) Drugs Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Over The Counter (OTC) Drugs Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Over The Counter (OTC) Drugs Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Over The Counter (OTC) Drugs Market - Supply Chain
  4.5. Global Over The Counter (OTC) Drugs Market Forecast
     4.5.1. Over The Counter (OTC) Drugs Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Over The Counter (OTC) Drugs Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Over The Counter (OTC) Drugs Market Absolute $ Opportunity
5. Global Over The Counter (OTC) Drugs Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Over The Counter (OTC) Drugs Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Over The Counter (OTC) Drugs Demand Share Forecast, 2019-2026
6. North America Over The Counter (OTC) Drugs Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Over The Counter (OTC) Drugs Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Over The Counter (OTC) Drugs Demand Share Forecast, 2019-2026
7. Latin America Over The Counter (OTC) Drugs Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Over The Counter (OTC) Drugs Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Over The Counter (OTC) Drugs Demand Share Forecast, 2019-2026
8. Europe Over The Counter (OTC) Drugs Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Over The Counter (OTC) Drugs Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Over The Counter (OTC) Drugs Demand Share Forecast, 2019-2026
9. Asia Pacific Over The Counter (OTC) Drugs Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Over The Counter (OTC) Drugs Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Over The Counter (OTC) Drugs Demand Share Forecast, 2019-2026
10. Middle East & Africa Over The Counter (OTC) Drugs Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Over The Counter (OTC) Drugs Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Over The Counter (OTC) Drugs Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Over The Counter (OTC) Drugs Market: Market Share Analysis
  11.2. Over The Counter (OTC) Drugs Distributors and Customers
  11.3. Over The Counter (OTC) Drugs Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Takeda Pharmaceutical Company Limited.
     11.4.2. Sanofi
     11.4.3. Reckitt Benckiser Group PLC.
     11.4.4. Pfizer Inc.
     11.4.5. Perrigo Company plc,

Segments Covered in the Report
The global over-the-counter (OTC) drugs market has been segmented based on

Product Types

  • Analgesics
  • Cough, Cold, and Flu Products
  • Dermatology Products
  • Vitamins Minerals, and Supplements (VMS)
  • Gastrointestinal Products
  • Weight-loss/Dietary Products
  • Sleeping Aids
  • Ophthalmic Products
  • Others

Distribution Channels

  • Hospital Pharmacies
  • Online Pharmacies
  • Retail Pharmacies
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Takeda Pharmaceutical Company Limited.
  • Sanofi
  • Reckitt Benckiser Group PLC.
  • Pfizer Inc.
  • Perrigo Company plc,
  • Mylan N.V.
  • Johnson & Johnson Private Limited
  • GlaxoSmithKline plc.
  • Bayer AG

Key players competing in the global over-the-counter (OTC) drugs market include Takeda Pharmaceutical Company Limited.; Sanofi; Reckitt Benckiser Group PLC.; Pfizer Inc.; Perrigo Company plc,; Mylan N.V.; Johnson & Johnson Private Limited; GlaxoSmithKline plc.; and Bayer AG. Some of these players are adopting several business strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.

For instance, In (September 2020) Hamdard Laboratories announced the release of 6 additional over-the-counter (OTC) medications for common illnesses like cold and cough in September 2020. Such announcements can broaden the firm's product range, bolstering its presence in the over-the-counter pharmaceuticals market.
 

Over The Counter (OTC) Drugs Market By key Players

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