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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.
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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.
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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
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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:
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| Breakup by Product Type |
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| Breakup by Dosage Form |
|
| Breakup by Route of Administration |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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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