Global Over the Counter (OTC) Drugs Market, By Products Type (Analgesics, Cold, Cough and Flu Products, Gastrointestinal Products, Ophthalmic Products, Dermatology Products, Others) End-Users (Speciality Clinic, Homecare, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2030.
Over the Counter (OTC) Drugs Market Analysis and Size
Rise in the population of elderly people and favourable regulatory policies are the major factor that will enhance the market growth rate. Furthermore, rising patent expirations of many drugs resulting in use as OTC drugs and affordable cost of these drugs are the factors that will expand the over the counter (OTC) drugs market.
Data Bridge Market Research analyses that the Over the Counter (OTC) Drugs market which was USD 167.89 Billion in 2022, would rocket up to USD 245.87 Billion by 2030, and is expected to undergo a CAGR of 6.60% during the forecast period. This indicates that the market value. “Cold, Cough and Flu Products” dominates the product type segment of the over the counter (OTC) drugs market owing to the Increasing self-medication practices. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Over the Counter (OTC) Drugs Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Products Type (Analgesics, Cold, Cough and Flu Products, Gastrointestinal Products, Ophthalmic Products, Dermatology Products, Others) End-Users (Speciality Clinic, Homecare, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E., Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Johnson & Johnson Private Limited (U.S.), Dr. Reddy's Laboratories Ltd. (India), Reckitt Benckiser Group PLC (U.K.), Takeda Pharmaceutical Company Limited (Japan), Sanofi (France), F. Hoffmann-La Roche Ltd (Switzerland), Bayer AG (Germany), Teva Pharmaceutical Industries Ltd. (Israel), GlaxoSmithKline plc (U.K.), Novartis AG (Switzerland), Sun Pharmaceutical Industries Ltd. ( India), Alkem Labs (India), Cipla Inc. (India), Piramal Enterprises Ltd (India), Pfizer Inc. (U.S.), Procter & Gamble (U.S.), Perrigo Company plc (Ireland), Mylan N.V. (U.S.), DAIICHI SANKYO COMPANY, LIMITED (Japan)
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Market Opportunities
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Market Definition
On the basis of the drug's safety and efficacy, over-the-counter (OTC) drugs are medications that can be taken by the general public without seeking medical advice. OTC medications include pain relievers such as acetaminophen (paracetamol) and ibuprofen, and dextromethorphan and cough suppressants. These medications are safe and effective, and they are used to treat diseases that do not necessitate a doctor's direct contact. OTC medications can be found at all pharmacies and stores and gas stations.
Over the Counter (OTC) Drugs Market Dynamics
Drivers
- Increasing Self-Medication Practices
OTC drugs provide convenience and accessibility to consumers for self-treatment of common ailments, leading to market growth
- Growing Consumer Awareness
Rising health consciousness and access to information have empowered consumers to seek OTC drugs for minor health issues
Opportunities
- Expansion in Emerging Markets
Rapid urbanization, improving healthcare infrastructure, and increasing disposable incomes in emerging markets present significant growth opportunities for the OTC drugs market
- Online Retailing
The growth of e-commerce platforms provides a convenient channel for consumers to purchase OTC drugs, expanding market reach
Restraints/Challenges
- Stringent Regulatory Requirements
OTC drugs need to meet regulatory standards for safety and efficacy, which can pose challenges for manufacturers
- Competition from Generic Drugs
The availability of generic alternatives to branded OTC drugs may impact market share and pricing.
This over the counter (OTC) drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the over the counter (OTC) Drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth
Recent Development
- In June 2021,Bayer announced the approval of Astepro Allergyfrom the U.S. Food and Drug(FDA) as an over the counter (OTC) product for the temporary relief of nasal congestion runny nose and Itchy nose and other respiratory allergies
- In March 2020, GSK announced that the company received approval of Advil Dual Action with Acetaminophen from the U.S. Food and Drug Administeration (FDA) as an over the counter (OTC) product for the pain relief .It is the first FDA –Approved OTC combination of ibuprofen and acetaminophen in the U.S. and will be available worldwide
Global Over the Counter (OTC) Drugs Market Scope
The over the counter (OTC) drugs market is segmented on the basis of product type, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Product type
- Analgesics
- Cold, Cough and Flu products
- Gastrointestinal Products
- Ophthalmic Product
- Dermatology Products
- Others
End-Users
- Speciality Clinic
- Homecare
- Hospital
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Over the Counter (OTC) Drugs Market Regional Analysis/Insights
The over the counter (OTC) drugs market is segmented on the basis of product type, end-users and distribution channel.
The countries covered in the over the counter (OTC) drugs market report are the U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E., Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa
North America dominates the over the counter (OTC) drugs market due to the presence of major key players, high disposable income, high healthcare expenditure and well-developed healthcare sector in this region.
Asia-Pacific is expected to grow during the forecast period from 2023 to 2030 due to the increasing research and development activities, rising investment in the healthcare sector and growing government support..
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
Over the counter (OTC) drugs market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for over the counter (OTC) drugs market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the over the counter (OTC) drugs market. The data is available for historic period from 2010 to 2020.
Competitive Landscape and Over the Counter (OTC) Drugs Market Share Analysis
Over the counter (OTC) drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to global over the counter (OTC) drugs market research.
Some of the major players operating in the over the counter (OTC) drugs market are
- Johnson & Johnson Private Limited (U.S.)
- Dr. Reddy's Laboratories Ltd. (India)
- Reckitt Benckiser Group PLC (U.K.)
- Takeda Pharmaceutical Company Limited (Japan)
- Sanofi (France)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Bayer AG (Germany)
- Teva Pharmaceutical Industries Ltd. (Israel)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- Sun Pharmaceutical Industries Ltd. (India)
- Alkem Labs (India)
- Cipla Inc. (India)
- Piramal Enterprises Ltd. - India
- Pfizer Inc. - United States
- Procter & Gamble - United States
- Perrigo Company plc - Ireland
- Mylan N.V. (U.S.)
- DAIICHI SANKYO COMPANY, LIMITED (Japan)
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