June 8, 2024

Over the Counter Drugs Market Expected to Reach US$294.18 Billion by 2030

According to a research report Over the Counter (OTC) Drugs Market (By Product Type: Analgesics, Cold & Cough Remedies, Digestives & Intestinal Remedies, Skin Treatment, Vitamins & Minerals, Others; By Distribution Channel: Drug Stores & Retail Pharmacies, Hospital Pharmacies, Online Pharmacies) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research.

Over the Counter (OTC) Drugs Market Size 2020 to 2030

The over the counter drugs market size is projected to hit from USD 171.47 billion in 2022 to USD 294.18  billion by 2030, growing at a CAGR of 6.9% every year.

The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.

The non-prescription medicines are sometimes known as over the counter (OTC) drugs because they are available without a prescription. If taken as directed by a healthcare practitioner, over the counter (OTC) drugs are safe. The growth in awareness of general health problems, as well as innovations in the healthcare and pharmaceutical industries, is driving the growth of over the counter (OTC) drugs market. In addition, an increasing trend among individuals to use over the counter (OTC) drugs for mild ailments contributes towards the growth of over the counter (OTC) drugs market during the forecast period.

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Scope of the Over the Counter (OTC) Drugs Market
Report Coverage Details
Market Size In 2020 US$ 150.8 Billion
Growth Rate CAGR of 6.9% from 2021 to 2030
Revenue Projection by 2030 US$ 294.18 Billion
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Over the Counter Drugs Market Report Highlights
  • Based on the product, the cold and cough remedies segment dominated the global over the counter (OTC) drugs market in 2020 with highest market share. The increase in geriatric population and rise in number of cold and cough cases is propelling the growth of segment during the forecast period.
  • Based on the distribution channel, the drug stores and retail pharmacies segment is estimated to be the most opportunistic segment during the forecast period. The increase in number of retail stores or drug stores is driving the growth of the segment during the forecast period.
Over the Counter Drugs Market Dynamics

Drivers – Growing geriatric population

The population of old or senior people are growing on a large scale. According to World Health Organization (WHO), the number of people of age 65 years or above is expected to grow around 1.5 billion in 2050. The number is expected to rise in developing countries such as China, Japan, India, and South Korea. The geriatric population faces various kinds of health problems such as cancer, diabetes, high blood pressure, and blood sugar levels.

They need to be more careful with their health. So, they require medicines at certain interval of time. Sometimes, the geriatric people buy medicines without any kind of prescription. As a result, the growing geriatric population is driving the growth of over the counter (OTC) drugs market during the forecast period.

Restraints – Threat to life of people

The over the counter (OTC) drugs are non-prescribed medicines. The people who have little knowledge about drugs and medicines, consume medicines without consulting doctor or healthcare professional. This can have ill-effects on the health of consumers. The consequences of this action can also have threat on the drug stores and pharmacies.

Many incidences have been noticed where people have died by consuming wrong drugs or medicines. To avoid such situations, the over the counter (OTC) drugs need to be banned. Thus, the threat to life of people is a restricting factor for the growth of the over the counter (OTC) drugs market during the forecast period.

Read Also: Biofuels Market Predicted to Garner a Revenue of US$ 201.21 Bn By 2030

Opportunities – Rising awareness of general health problems

After COVID-19 pandemic, the people are more concerned towards their health. The consumption patterns have changed due to coronavirus outbreak. This has created new growth opportunities for the over the counter drugs in the market. Before a decade, the people were not aware about the causes of cold and cough. But after the pandemic the people have understood the importance of good health.

Many of the consumers have knowledge of medicines that can be consumed during certain health issues. As a result, the rising awareness of general health problems is paving the way for the growth of over the counter drugs market during the forecast period.

Challenges – Stringent government regulations

The sale of over the counter drugs in some regions is not legal. For this, certain rules and laws need to be followed. The Food and Drug Administration (FDA) has enacted certain regulatory framework that prohibits the use of over the counter drugs in the market. In many developed countries, the sale of over the counter drugs is banned. As a result, the stringent government regulations are a huge challenge for the growth of over the counter (OTC) drugs market during the forecast period.

Over the Counter Drugs Market Regional Snapshot

North America is the largest segment for over the counter drugs market in terms of region. The change in consumer lifestyle and growing preference of consumers towards over the counter drugs is expected to drive the growth of over the counter  drugs market during the forecast period.

Europe region is the fastest growing region in the over the counter drugs market. Europe has large number of over the counter drugs manufacturers. This fact is resulting Europe region as one of the dominants in the over the counter drugs market.

Some of the prominent players in the global over the counter drugs market include:
  • Bayer AG
  • Takeda Pharmaceutical Company Ltd.
  • Pfizer
  • Johnson & Johnson Services Inc.
  • Sanofi S.A.
  • Reckitt Benckiser Group PLC
  • Novartis AG
  • Boehringer Ingelheim International GmbH
  • GlaxoSmithKline PLC
  • Mylan
Segments Covered in the Report

By Product Type

  • Analgesics
  • Cold & Cough Remedies
  • Digestives & Intestinal Remedies
  • Skin Treatment
  • Vitamins & Minerals
  • Others

By Distribution Channel

  • Drug Stores & Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
  • MEA
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Over the Counter (OTC) Drugs Market 

5.1. COVID-19 Landscape: Over the Counter (OTC) Drugs Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Over the Counter (OTC) Drugs Market, By Product

8.1. Over the Counter (OTC) Drugs Market, by Product Type, 2021-2030

8.1.1. Analgesics

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Cold & Cough Remedies

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Digestives & Intestinal Remedies

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Skin Treatment

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Vitamins & Minerals

8.1.5.1. Market Revenue and Forecast (2019-2030)

8.1.6. Others

8.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Over the Counter (OTC) Drugs Market, By Distribution Channel

9.1. Over the Counter (OTC) Drugs Market, by Distribution Channel, 2021-2030

9.1.1. Drug Stores & Retail Pharmacies

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Hospital Pharmacies

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Online Pharmacies

9.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Over the Counter (OTC) Drugs Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Distribution Channel (2019-2030)

Chapter 11. Company Profiles

11.1. Bayer AG

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Takeda Pharmaceutical Company Ltd.

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Pfizer

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Johnson & Johnson Services Inc.

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Sanofi S.A.

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Reckitt Benckiser Group PLC

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Novartis AG

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Boehringer Ingelheim International GmbH

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. GlaxoSmithKline PLC

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Mylan

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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