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Over the Counter (OTC) Drugs Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Over the Counter (OTC) Drugs Market: By Product Type (Cough, Cold, and Influenza, Analgesics, Dermatology Products, Gastrointestinal Products, and Others); Mode of Intake (Topical, Oral, and Parenteral); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacy); and Region—Industry Dynamics, Market Size, Opportunity and Forecast till 2031

  • Published Date: 13-Feb-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0622263
    Delivery: 2 to 4 Hours

REPORT SCOPE

Report AttributeDetails
Market Size Value in 2022US$ 1,29,963.03 Million
Expected Revenue in 2031US$ 2,38,453.92 Million
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
CAGR7.0% (2023-2031)
Segments coveredBy Product, By Mode, By Distribution Channel, By Region
Key Companies                                                                                    AbbVie Inc., Alfresa Pharma Corporation, Bayer AG, Dr.Reddy’s Laboratories, GlaxoSmithKline Plc, Glenmark Pharmaceutical Products Ltd., Johnson & Johnson, Merck & Co Inc., Novartis AG, Perrigo Company Plc., Pfizer, Reckitt Benckiser Group Plc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Other Prominent Players
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FREQUENTLY ASKED QUESTIONS

The Global OTC Drugs Market was valued at US$ 1,29,963.03 Mn in 2022. 

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 7.0% 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 market in 2022.

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 2022.

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.

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