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Over the Counter (OTC) Drugs Market

Global Over the Counter (OTC) Drugs Market Size, Growth: By Product Type: Analgesics, Cold, Cough and Flu Products, Gastrointestinal Products, Ophthalmic Products, Dermatology Products, Others; By Dosage Form; By Route of Administration; By Distribution Channel; Regional Analysis; Supplier Landscape; 2024-2032

Global Over the Counter (OTC) Drugs Market Outlook

The global over the counter drugs market size reached a value of USD 179.06 billion in 2023. The market is likely to grow at an annual rate of 6.9% in the forecast period of 2024-2032 to reach a market value of USD 326.43 billion by 2032.

 

over the counter drugs market

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Global Over the Counter Drugs (OTC) Market Overview

Over the counter (OTC) drugs can be sold directly to the patient without the need for any prescription. There are different categories of OTC drugs including nutritional drinks, healthcare products, healthcare devices, vitamins and supplements, immunity boosters, protein supplements, and several other products.

 

With an increasing burden of chronic diseases, there is a surge in the demand for the over-the-counter drugs. This has led to the increased production of such medications, attributing to over the counter (OTC) drugs market growth. In developing countries, people tend to adopt the concept of self-medication due to lack of proper resources and underdeveloped healthcare infrastructure. Such factors also influence the market growth significantly. To meet the increasing demand and popularity of OTC drugs, key market players and major pharmaceutical companies are also shifting their focus from prescription to over the counter drugs.

 

Rising Approvals to Boost Over the Counter (OTC) Drugs Market Share

In July 2023, the United States FDA approved the first ever over the counter oral contraceptive pill, that will be made available in both online as well as offline stores in early 2024. Opill, the progestin only pill is expected to minimize the scope of unwanted pregnancy by offering a prompt and effective alternative to the consumers. The rising initiatives to expand the accessibility of drugs for multiple indications is projected to boost the market value of OTC drugs in upcoming years.

 

Surge in Research Activities to Meet the Rising Over the Counter (OTC) Drugs Market Demand

In January 2024, Petros Pharmaceuticals announced that avanafil (Stendra), an oral phosphodiesterase 5 inhibitor formulated for treating erectile dysfunction, showed positive results in the phase 2 equivalent self-selection study (SSS) for over-the-counter (OTC) use.  The open label study was particularly designed to allow patients select a certain product present on the drug facts label (DFL). Around 78% of the consumers were able to self-select and use avanafil with the help of DFL. This demonstrates that rising prevalence for over the counter drugs to offer convenient and affordable solutions to the consumers.

 

over the counter drugs market by segments

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Global Over the Counter (OTC) Drugs Market Segmentations

Market Breakup by Product Type

  • Analgesics
  • Cold, Cough and Flu Products
  • Gastrointestinal Products
  • Ophthalmic Products
  • Dermatology Products
  • Others

 

Market Breakup by Dosage Form

  • Tablet and Capsules
  • Liquids
  • Creams and Ointments
  • Powders
  • Others

 

Market Breakup by Route of Administration

  • Oral
  • Injectable
  • Topicals
  • Others

 

Market Breakup by Distribution Channel

  • Hospital Pharmacy
  • Online Pharmacy
  • Retail Pharmacy
  • Others

 

Market Breakup by Region

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

 

over the counter drugs market by region

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Global Over the Counter (OTC) Drugs Market Regional Analysis

Geographically, North America is anticipated to dominate the regional markets. The market growth can be attributed to the presence of strategic key players, rising incidence of product launches, and a preference for over-the-counter drugs. The market is also propelled by the increasing incidence of FDA approvals for critical medical conditions.

 

Europe is the fastest-growing region in the over-the-counter drugs market, owing to increasing research and development activities, and rising awareness of over-the-counter drugs amongst the general population. In addition, collaborations between public and private entities to bring economical, convenient, and advanced solutions to the consumers is expected to drive over the counter (OTC) drugs market growth in the region.

 

The rising infrastructure development, leading to launch of new drug stores and pharmacies are anticipated to enhance the Asia Pacific market share as well.

 

Global Over the Counter (OTC) Drugs Market: Competitor Landscape

In March 2023, Perrigo Company plc, a leading provider of consumer self-care products received the United States FDA approval for the combination of Acetaminophen and Ibuprofen tablets. Developed as the OTC version of Advil Dual Action Tablets 250 mg/125 mg, the drug can be found useful for treating multiple pain relief symptoms. The market has been witnessing a surge in approvals from the regulatory authorities which is expected to boost the over the counter (OTC) drugs market share in the forecast period.

 

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

 

  • Johnson & Johnson
  • GlaxoSmithKline plc
  • Bayer AG
  • Sanofi S.A.
  • Pfizer Inc.
  • Novartis International AG
  • Reckitt Benckiser Group plc.
  • Takeda Pharmaceutical Company Limited
  • Boehringer Ingelheim
  • Perrigo Company plc
  • Merck & Co., Inc.
  • Sun Pharmaceutical Industries Ltd.
  • Procter & Gamble Co.
  • Prestige Consumer Healthcare Inc.
  • Perrigo Company plc.
  • Taisho Pharmaceutical Holdings Co., Ltd.
  • Mylan N.V.
  • Church & Dwight Co., Inc.
  • Alvogen
  • Cipla Limited

 

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Dosage Form
  • Route of Administration
  • Distribution Channel
  • Region
Breakup by Product Type
  • Analgesics
  • Cold, Cough and Flu Products
  • Gastrointestinal Products
  • Ophthalmic Products
  • Dermatology Products
  • Others
Breakup by Dosage Form
  • Tablet and Capsules
  • Liquids
  • Creams and Ointments
  • Powders
  • Others
Breakup by Route of Administration
  • Oral
  • Injectable
  • Topicals
  • Others
Breakup by Distribution Channel
  • Hospital Pharmacy
  • Online Pharmacy
  • Retail Pharmacy
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Johnson & Johnson
  • GlaxoSmithKline plc
  • Bayer AG
  • Sanofi S.A.
  • Pfizer Inc.
  • Novartis International AG
  • Reckitt Benckiser Group plc.
  • Takeda Pharmaceutical Company Limited
  • Boehringer Ingelheim
  • Perrigo Company plc
  • Merck & Co., Inc.
  • Sun Pharmaceutical Industries Ltd.
  • Procter & Gamble Co.
  • Prestige Consumer Healthcare Inc.
  • Perrigo Company plc.
  • Taisho Pharmaceutical Holdings Co., Ltd.
  • Mylan N.V.
  • Church & Dwight Co., Inc.
  • Alvogen
  • Cipla Limited

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
    1.1    Objectives of the Study
    1.2    Key Assumptions 
    1.3    Report Coverage – Key Segmentation and Scope  
    1.4    Research Methodology
2    Executive Summary
3    Global Over the Counter (OTC) Drugs Market Overview 
    3.1    Global Over the Counter (OTC) Drugs Market Historical Value (2017-2023) 
    3.2    Global Over the Counter (OTC) Drugs Market Forecast Value (2024-2032)
4    Global Over the Counter (OTC) Drugs Market Landscape
    4.1    Global Over the Counter (OTC) Drugs Developers Landscape
    4.1.1    Analysis by Year of Establishment
    4.1.2    Analysis by Company Size
    4.1.3    Analysis by Region
    4.2    Global Over the Counter (OTC) Drugs Product Landscape
    4.2.1    Analysis by Product Type
    4.2.2    Analysis by Dosage From
    4.2.3    Analysis by Route of Administration
5    Global Over the Counter (OTC) Drugs Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Over the Counter (OTC) Drugs Market Segmentation 
    6.1    Global Over the Counter (OTC) Drugs Market by Product Type
        6.1.1    Market Overview 
        6.1.2    Analgesics
        6.1.3    Cold, Cough and Flu Products
        6.1.4    Gastrointestinal Products
        6.1.5    Ophthalmic Products
        6.1.6    Dermatology Products
        6.1.7    Others
    6.2    Global Over the Counter (OTC) Drugs Market by Dosage Form
        6.2.1    Market Overview
        6.2.2    Tablet and Capsules
        6.2.3    Liquids
        6.2.4    Creams and Ointments
        6.2.5    Powders
        6.2.6    Others
    6.3    Global Over the Counter (OTC) Drugs Market by Route of Administration
        6.3.1    Market Overview
        6.3.2    Oral
        6.3.3    Injectable
        6.3.4    Topicals
        6.3.5    Others
    6.4    Global Over the Counter (OTC) Drugs Market by Distribution Channel
        6.4.1    Market Overview
        6.4.2    Hospital Pharmacy
        6.4.3    Online Pharmacy
        6.4.4    Retail Pharmacy
        6.4.5    Others
    6.5    Global Over the Counter (OTC) Drugs Market by Region
        6.5.1    Market Overview
        6.5.2    North America 
        6.5.3    Europe
        6.5.4    Asia Pacific
        6.5.5    Latin America
        6.5.6    Middle East and Africa
7    North America Over the Counter (OTC) Drugs Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Over the Counter (OTC) Drugs Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Over the Counter (OTC) Drugs Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Others
10    Latin America Over the Counter (OTC) Drugs Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Over the Counter (OTC) Drugs Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Patent Analysis
    12.1    Analysis by Type of Patent
    12.2    Analysis by Publication year
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Patent Age
    12.5    Analysis by CPC Analysis
    12.6    Analysis by Patent Valuation 
    12.7    Analysis by Key Players
13    Grants Analysis
    13.1    Analysis by Year
    13.2    Analysis by Amount Awarded
    13.3    Analysis by Issuing Authority
    13.4    Analysis by Grant Application
    13.5    Analysis by Funding Institute
    13.6    Analysis by NIH Departments
    13.7    Analysis by Recipient Organization 
14    Clinical Trials Analysis
    14.1    Analysis by Trial Registration Year
    14.2    Analysis by Trial Status
    14.3    Analysis by Trial Phase
    14.4    Analysis by Therapeutic Area
    14.5    Analysis by Geography
15    Funding & Investment Analysis
    15.1    Analysis by Funding Instances
    15.2    Analysis by Type of Funding
    15.3    Analysis by Funding Amount
    15.4    Analysis by Leading Players
    15.5    Analysis by Leading Investors
    15.6    Analysis by Geography
16    Partnership and Collaborations Analysis
    16.1    Analysis by Partnership Instances
    16.2    Analysis by Type of Partnership
    16.3    Analysis by Leading Players
    16.4    Analysis by Geography
17    Regulatory Framework
    17.1    Regulatory Overview
        17.1.1    US FDA
        17.1.2    EU EMA
        17.1.3    INDIA CDSCO
        17.1.4    JAPAN PMDA
        17.1.5    Others
18    Supplier Landscape
    18.1    Johnson & Johnson
        18.1.1    Financial Analysis
        18.1.2    Product Portfolio
        18.1.3    Demographic Reach and Achievements
        18.1.4    Mergers and Acquisitions
        18.1.5    Certifications
    18.2    GlaxoSmithKline plc
        18.2.1    Financial Analysis
        18.2.2    Product Portfolio
        18.2.3    Demographic Reach and Achievements
        18.2.4    Mergers and Acquisitions
        18.2.5    Certifications
    18.3    Bayer AG
        18.3.1    Financial Analysis
        18.3.2    Product Portfolio
        18.3.3    Demographic Reach and Achievements
        18.3.4    Mergers and Acquisitions
        18.3.5    Certifications
    18.4    Sanofi S.A.
        18.4.1    Financial Analysis
        18.4.2    Product Portfolio
        18.4.3    Demographic Reach and Achievements
        18.4.4    Mergers and Acquisitions
        18.4.5    Certifications
    18.5    Pfizer Inc.
        18.5.1    Financial Analysis
        18.5.2    Product Portfolio
        18.5.3    Demographic Reach and Achievements
        18.5.4    Mergers and Acquisitions
        18.5.5    Certifications
    18.6    Novartis International AG
        18.6.1    Financial Analysis
        18.6.2    Product Portfolio
        18.6.3    Demographic Reach and Achievements
        18.6.4    Mergers and Acquisitions
        18.6.5    Certifications
    18.7    Reckitt Benckiser Group plc.
        18.7.1    Financial Analysis
        18.7.2    Product Portfolio
        18.7.3    Demographic Reach and Achievements
        18.7.4    Mergers and Acquisitions
        18.7.5    Certifications
    18.8    Takeda Pharmaceutical Company Limited
        18.8.1    Financial Analysis
        18.8.2    Product Portfolio
        18.8.3    Demographic Reach and Achievements
        18.8.4    Mergers and Acquisitions
        18.8.5    Certifications
    18.9    Boehringer Ingelheim
        18.9.1    Financial Analysis
        18.9.2    Product Portfolio
        18.9.3    Demographic Reach and Achievements
        18.9.4    Mergers and Acquisitions
        18.9.5    Certifications
    18.10    Perrigo Company plc
        18.10.1    Financial Analysis
        18.10.2    Product Portfolio
        18.10.3    Demographic Reach and Achievements
        18.10.4    Mergers and Acquisitions
        18.10.5    Certifications
    18.11    Merck & Co., Inc.
        18.11.1    Financial Analysis
        18.11.2    Product Portfolio
        18.11.3    Demographic Reach and Achievements
        18.11.4    Mergers and Acquisitions
        18.11.5    Certifications
    18.12    Sun Pharmaceutical Industries Ltd.
        18.12.1    Financial Analysis
        18.12.2    Product Portfolio
        18.12.3    Demographic Reach and Achievements
        18.12.4    Mergers and Acquisitions
        18.12.5    Certifications
    18.13    Procter & Gamble Co.
        18.13.1    Financial Analysis
        18.13.2    Product Portfolio
        18.13.3    Demographic Reach and Achievements
        18.13.4    Mergers and Acquisitions
        18.13.5    Certifications
    18.14    Prestige Consumer Healthcare Inc.
        18.14.1    Financial Analysis
        18.14.2    Product Portfolio
        18.14.3    Demographic Reach and Achievements
        18.14.4    Mergers and Acquisitions
        18.14.5    Certifications
    18.15    Perrigo Company plc.
        18.15.1    Financial Analysis
        18.15.2    Product Portfolio
        18.15.3    Demographic Reach and Achievements
        18.15.4    Mergers and Acquisitions
        18.15.5    Certifications
    18.16    Taisho Pharmaceutical Holdings Co., Ltd.
        18.16.1    Financial Analysis
        18.16.2    Product Portfolio
        18.16.3    Demographic Reach and Achievements
        18.16.4    Mergers and Acquisitions
        18.16.5    Certifications
    18.17    Mylan N.V.
        18.17.1    Financial Analysis
        18.17.2    Product Portfolio
        18.17.3    Demographic Reach and Achievements
        18.17.4    Mergers and Acquisitions
        18.17.5    Certifications
    18.18    Church & Dwight Co., Inc.
        18.18.1    Financial Analysis
        18.18.2    Product Portfolio
        18.18.3    Demographic Reach and Achievements
        18.18.4    Mergers and Acquisitions
        18.18.5    Certifications
    18.19    Alvogen
        18.19.1    Financial Analysis
        18.19.2    Product Portfolio
        18.19.3    Demographic Reach and Achievements
        18.19.4    Mergers and Acquisitions
        18.19.5    Certifications
    18.20    Cipla Limited
        18.20.1    Financial Analysis
        18.20.2    Product Portfolio
        18.20.3    Demographic Reach and Achievements
        18.20.4    Mergers and Acquisitions
        18.20.5    Certifications
19    Global Over the Counter (OTC) Drugs Market - Distribution Model (Additional Insight)
    19.1    Overview 
    19.2    Potential Distributors 
    19.3    Key Parameters for Distribution Partner Assessment 
20    Key Opinion Leaders (KOL) Insights (Additional Insight)
21    Company Competitiveness Analysis (Additional Insight)

    21.1    Very Small Companies
    21.2    Small Companies
    21.3    Mid-Sized Companies
    21.4    Large Companies
    21.5    Very Large Companies
22    Payment Methods (Additional Insight)
    22.1    Government Funded
    22.2    Private Insurance
    22.3    Out-of-Pocket


*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The market attained a value of about USD 179.06 billion in 2023 driven by the increasing incidence of drug approvals from prominent regulatory bodies across the globe.

The market is anticipated to grow at a CAGR of 6.9% during the forecast period of 2024-2032 and is likely to reach a market value of USD 326.43 billion by 2032.

The increasing prevalence of chronic diseases, viral and seasonal infections, rising number of clinical trials and research activities to bring affordable and accessible solutions to the consumers are driving the market demand.

Key market players launching new OTC drugs is one of the major market trends. In March 2023, Perrigo Company plc, received the United States FDA approval for their latest pain relief OTC drug. Developed as an alternative to Advil Dual Action Tablets 250 mg/125 mg, the combination of Acetaminophen and Ibuprofen tablets can be used as a potent alternative.

The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.

Product types include analgesics, cold, cough, and flu products, gastrointestinal products, ophthalmic products, and dermatology products, among others.

Common dosage forms include tablets, capsules, liquids, creams, ointments, and powders among others.

Various routes of administration include oral, injectable, and topicals among others.

Based on distribution channels, segments are hospital pharmacy, online pharmacy, and retail pharmacy among others.

Key players involved in the market are Johnson & Johnson, GlaxoSmithKline plc, Bayer AG, Sanofi S.A., Pfizer Inc., Novartis International AG, Reckitt Benckiser Group plc., Takeda Pharmaceutical Company Limited, Boehringer Ingelheim., Perrigo Company plc, Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Procter & Gamble Co., Prestige Consumer Healthcare Inc., Perrigo Company plc., Taisho Pharmaceutical Holdings Co., Ltd., Mylan N.V., Church & Dwight Co., Inc., Alvogen, and Cipla Limited.

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