Over the Counter Drugs Market 2026: Market Snippet by Type, Mode of intake, COVID-19 Impact Analysis & Top Players - Alkem Laboratories, Teva Pharmaceutical, Sanofi, Boehringer Ingelheim, Novartis, Pfizer

Global over the counter drugs market Overview: The global over the counter drugs market size was worth $ XX billion in 2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period. Over-the-counter drugs are the medicines that are sold directly to a consumer without a prescription. The increasing number of patent expiries of the prescription drugs and inclination of key players towards OTC revenue generation is leading to the increased demand for OTC drugs. The advancement and growth in distribution channels like online pharmacies, departmental stores, supermarkets, and others is also expected to drive the market.

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Global Over the Counter Drugs Market Dynamics: Global over the counter drugs market growth is driven by the growing need for self-medication by the consumers, growing healthcare awareness among the consumers, rising geriatric population who are more susceptible to several ailments like joint pains, increasing patent expirations of the prescription drugs, cost-effectiveness of OTC drugs, inclination of pharmaceutical companies from prescription drugs to OTC Drugs, and the presence of digital marketing key trends.

The inclination of pharmaceutical companies towards OTC drugs from Rx drugs is expected to drive the OTC drugs market. The increasing patent expiration rate is resulting in switching from prescription to OTC by the key players as a counter-strategy. As per the Consumer Healthcare Products Association, in the US, approximately 106 ingredients, dosage strengths, indications have undergone a switch from prescription to OTC, translating to about 700 OTC products in the market. The economic benefits received from OTC drugs usage led to the savings on the drug cost and cost related to the clinical visit. Thus, it is significantly attributing to the market growth in the emerging economies.

However, substance abuse and less awareness, the risk associated with taking wrong and self-medication, stringent regulations are hampering the growth of the market. For instance, in October 2018, FDA shuts down OTC drug manufacturer with longstanding and pervasive CGMP and labeling issues.

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Global Over the Counter Drugs Market Segment Analysis: Based on type, the global over the counter drugs market is segmented into Analgesics, Cold, Cough, and Flu products, Weight loss products, Gastrointestinal products, Skin products, Mineral and vitamin supplements, Sleeping aids, Ophthalmic products, and others.

The weight-loss products segment is expected to drive the market over the period of forecast. This is owing to the rising awareness of the general population about health and an increase in the consumption of junk food, which leads to a rise in lifestyle-related diseases. On April 14, 2019, Gelesis, a biotechnology company which develops first-in-class hydrogel therapeutics for the treatment of obesity and other chronic diseases related to the gastrointestinal (GI) tract, got US FDA approval for PLENITY (Gelesis100), as an aid in weight management in adults with a Body Mass Index (BMI) of 25-40 kg/m2, when used in conjunction with diet and exercise.

The VMS (vitamins, minerals, and supplements) segment is also growing at a significant CAGR over the forecast period. This is owing to the large customer base for various products under this category. OTC products for these conditions are more of precautious nature than that of treatment or cure. The major players are adopting different strategies, including acquisitions, product launch, expansion, mergers, and others, which are also accelerating the growth of the market. For instance, In November 2016, the German healthcare company Stada acquired UK VMS business Natures Aid for its high quality branded products and complementary fit with Thornton & Ross, its UK based OTC business. The acquisition moved them firmly into the natural health space. Also, Samworth Brothers acquired sports nutrition business Sci-MX in June 2015 intending to use their brand expertise to reinforce Sci-MX's market share and provide them with an entry point into the sports nutrition market.

Based on the mode of intake, the global over the counter drugs market is segmented into Oral, Topical, and Parenteral.

Oral route of administration is the most preferred route of drug delivery owing to its advantages like safety, proper patient compliance, ease of ingestion, pain avoidance, and versatility to accommodate various types of drugs. One of the trends in oral OTC drugs market is the use of orally disintegrating technology, which offers ease of use and convenience. The orally disintegrating tablets (ODT) and powders (ODP) have become a preferred dosage form for consumers globally for medications in a variety of therapeutic areas. These include traditional over-the-counter (OTC) medicines like ibuprofen and acetaminophen, montelukast and olanzapine, and a variety of other drugs for indications such as migraine, sleeplessness, and erectile dysfunction.

Based on end-users, the global OTC Drugs market is segmented into Retail Pharmacies, Hospital Pharmacies, online pharmacies, and others.

Online sales segment of over the Counter drugs is changing the market, menacing major OTC drugs manufacturers and permitting minor companies to get their share in the market. Bayer's Aleve is one of the best-selling drugs in America with a revenue of around $485 million in case of sales in 2016. But there was a drop-in sale by 10% in 2017. This was attributable to the availability of alternative drugs online from small manufacturers. This shows that power is gradually shifting toward e-commerce, making it difficult for the major players.

Global Over the Counter Drugs Market Geographical Analysis:
o North America is dominating the global OTC drugs market in 2018 and estimated to hold largest market size over the forecast period (2019-2026) owing to the leading trend among pharmaceutical companies to switch from prescription to OTC drugs, increasing drug development, and ease of availability of the drugs.
o According to the National Institute of Health, 93% of adults in the US prefer to treat their minor ailments with OTC medicines before seeking professional care, and 85% of parents in the US prefer to treat their children's small diseases with an OTC medicine before seeking professional care.
o In the US, there are around 100,000 OTC drug products marketed and sold in a variety of outlets, such as pharmacies and stores.
o For example, proton pump inhibitors like esomeprazole (Nexium 24HR) and stomach acid blockers like ranitidine (Zantac 150), which are used for heartburn, are the examples of drug products which have made the Rx-to-OTC switch. The emergency contraceptive pill ("the morning-after pill") also known as Plan B One-Step is now available OTC without any age restriction and can be found on the shelves in many pharmacies in the U.S.
o The presence of the vast number of OTC drugs generating significant revenues in the region is expected to boost the market. For instance, according to the Washington, D.C.-based non-profit Consumer Healthcare Protection Association, the top-selling OTC drug categories in 2018 (million) were Oral analgesics with $4,323, Heartburn with $3,229, Antiperspirants with $3,034, etc.

Global Over the Counter Drugs Market Competitive Landscape
o Some of the key players in the global over the counter drugs market are Bayer HealthCare, Johnson and Johnson, Pfizer, Novartis, GlaxoSmithKline (GSK), Boehringer Ingelheim, Sanofi, Teva Pharmaceutical Industries Ltd., Alkem Laboratories Limited.
o The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the Over the Counter drugs market globally. For instance,
o In January 2019, Innovus Pharmaceuticals, Inc., an emerging commercial-stage pharmaceutical company, launched Xyralid(R) Suppositories, for the reduction of swelling of hemorrhoidal tissues and provides pain relief from burning, itching, and discomfort. Xyralid(R) Suppositories received a Product License Application ("PLA") in Canada, and the product is available as an over-the-counter ("OTC") or behind the counter drug and will not require a prescription. The product is now available in Canada directly through the Company's website and its Beyond Human(R) marketing and sales platform.
o In May 2019, Innovus Pharmaceuticals, Inc., announced that Taro Pharmaceuticals U.S.A., Inc., will supply Innovus Pharma, through the Company's wholesaler, Taro's 5% Minoxidil Foam for men and women under its approved ("ANDA") No. 209074 from the U.S. Food and Drug Administration ("FDA"). Innovus Pharma will launch the drug under its own trademark Regoxidine.
o On July 6, 2018, Pfizer announced that the MHRA had approved the reclassification of the proton pump inhibitor (PPI) Nexium Control (esomeprazole), making it available for the consumers to purchase it without a prescription.
o In November 2018, Elite Pharmaceuticals, Inc. ("Elite" or the "Company"), a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, launched generic methadone hydrochloride 5mg and 10 mg tablets by Glenmark Pharmaceuticals, Inc., USA ("Glenmark"), Elite's marketing alliance partner.
o In July 2018, Dr. Reddy's Laboratories (DRL) today launched over-the-counter Esomeprazole magnesium delayed-release capsules USP, 20 mg, used to treat acid reflux, in the US market. Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg is an over-the-counter (OTC) therapeutic equivalent generic version of Nexium 24 hour capsules.
o In January 2018, J&J, GlaxoSmithKline and Reckitt Benckiser are on a race to buy Pfizer's $20 billion consumers. However, the final two competitors are Reckitt Benckiser and GSK.

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