In many advanced countries, the lineup of OTC (over the counter) drugs available to consumers is expanding. Meanwhile, in emerging countries, the use of OTC drugs is increasing while related healthcare systems are also expanding. The Global Over the Counter (OTC) Drugs Market is projected to witness a rise in its revenue from US$ 1,22,854.5 Mn in 2021 to US$ 2,20,995.3 Mn by 2030. The market is registering a growth at a CAGR of 6.9% during the forecast period (2022-2030).
Over The Counter drugs, also known as OTC, are the drugs/medicines sold without prescription. They are also known as non-prescription medicine. These are the kind of medicines that one can easily buy in the pharmacy without a prescription or without seeking help from a health professional. OTC medicines treat a variety of illnesses and their symptoms including pain, coughs and colds, diarrhea, constipation, acne, and others. Some OTC medicines have active ingredients with the potential for misuse at higher-than-recommended dosages.
The market is majorly driven by factors such as rising awareness related to OTC products, favorable regulatory scenario, and increasing pharmaceutical spending. The awareness regarding OTC products is continuously rising. This is majorly supported by internet penetration. Today, information regarding the name of drugs which needs to be consumed for a particular indication, is easily available on the internet. Therefore, people can easily either place an order online for that drug or buy it from the retail pharmacies. OTC drugs also provide location convenience. They also save the patient’s time as they do not require consultation with a healthcare provider for a prescription. OTC drugs are usually regulated according to their Active Pharmaceutical Ingredients (APIs) rather than the final products. In many countries OTC drugs are selected by a regulatory agency to ensure that they contain ingredients that are safe and effective when used without a physician’s care. For instance, in the United States, the manufacture and sale of OTC substances are regulated by the Food and Drug Administration. Further, the increasing spending on pharmaceutical R&D is also triggering market growth. However, the growing cases of substance abuse and adverse effects of medicines are restraining the market growth.
Report Summary
The study of the Global Over the Counter (OTC) Drugs Market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the OTC drugs industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the Global Over the Counter (OTC) Drugs Market across 14 Chapters and 164 pages. The report includes data presentation across 38 tables and 80 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers is low and intensity of rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as type, mode of intake, distribution channel, and region. The report includes a detailed study of the value chain of the industry. It includes raw material providers, OTC drug manufacturers, packaging/distribution, and end-users. The report also covers extensively about the key competitors in the market for OTC drugs.
Key Takeaways from the Global Over the Counter (OTC) Drugs Market Report:
Competitive Dashboard
The key players in the Global Over the Counter (OTC) Drugs Market are Glenmark Pharmaceutical Products Ltd, Johnson & Johnson, Bayer AG, Perrigo Company Plc, Pfizer, and Reckitt Benckiser Group Plc, among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the stabilized market scenarios.
Segmentation Overview
The following are the various segments of the Global Over the Counter (OTC) Drugs Market:
By Product Type segment of the Global Over the Counter (OTC) Drugs Market is sub-segmented into:
By Mode of Intake segment of the Global Over the Counter (OTC) Drugs Market is sub-segmented into:
By Distribution Channel segment of the Global Over the Counter (OTC) Drugs Market is sub-segmented into:
By Region segment of the Global Over the Counter (OTC) Drugs Market is sub-segmented into:
The Global OTC Drugs Market was valued at US$ 1,22,854.5 Mn in 2021.
OTC drugs are the kind of medicines that one can easily buy in the pharmacy without prescription or without seeking help from the health professional.
OTC medicines treat a variety of illnesses and their symptoms including pain, coughs and colds, diarrhea, constipation, acne, and others.
For people with low socio-economic status who cannot keep health in priority, OTC drugs are the best solution. Direct purchasing of the OTC drugs from the pharmacist is much cheaper than consulting doctors/ health practitioners.
The Global OTC Drugs Market is projected to expand at a CAGR of 6.9% during the forecast period.
The market is majorly driven by factors such as rising awareness regarding OTC products, favorable regulatory scenario, and increasing pharmaceutical spending.
The growing cases of substance abuse and adverse effects of medicines are restraining the market growth.
AI-powered operations in online pharmacies are the current trend in the OTC drugs market.
The various segmentations considered to analyze the Global OTC Drugs Market are based on product type, mode of intake, distribution channel, and region.
Analgesics segment dominates the marker in 2021.
Oral mode of drug intake holds the highest share in the Global OTC Drugs Market.
Retail pharmacy is the largest shareholding segment of distribution channel in the market in 2021.
The key players in the Global Over the Counter (OTC) Drugs Market are Glenmark Pharmaceutical Products Ltd., Johnson & Johnson, Bayer AG, Perrigo Company Plc, Pfizer, and Reckitt Benckiser Group Plc among others.