Revenue From Sales Of Over the Counter (OTC) Analgesics Market To Surge Exponentially During Forecast Period : Fact.MR

As per Fact.MR, a market research and competitive intelligence provider, the global OTC analgesics market is anticipated to top US$ 40 Bn by 2031, progressing at a CAGR of 5% over the forecast period of 2021 to 2031.

OTC analgesics are anti-pain medications that help control pain for a short period of time until it is completely gone. People regularly use these drugs without a prescription for pain that repeats or is of lesser severity. OTC analgesics are available as tablets, capsules, creams, sprays, and patches in both, brand and generic formulations.

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As a result of the negative effects of narcotic painkillers on patients, demand for non-narcotic medication has increased. Manufacturers and distributors of topical analgesics are expanding their product portfolios in order to profit from prospects in both, developed and developing markets. Because of the availability of over-the-counter analgesics, managing pain symptoms has become simple and convenient, and these are now prescribed alongside approved drugs as maintenance therapies.

Key Market Segments in OTC Analgesics Industry Research

By Form :
OTC Analgesic Tablets
OTC Analgesic Capsules
OTC Analgesic Liquid

By Drug Type :
OTC Acetaminophen
OTC Salicylates
OTC Nonsteroidal Anti-inflammatory Drugs (NSAIDs)

By OTC Channel :
Sales of OTC Analgesics at Pharmacies
Sales of OTC Analgesics at Drug Stores
Online Sales of OTC Analgesics
Modern Trade Sales of OTC Analgesics

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Key Takeaways from Market Study

Global OTC analgesics market to top US$ 40 Bn by 2031.
Nonsteroidal anti-inflammatory drugs (NSAIDs) projected to reach around US$ 19 Bn by 2031.
Acetaminophen projected to record above 4% CAGR over next 10 years.
Market in North America holds share of more than 40%.
Market in France expected to reach valuation of US$ 6 Bn by 2031.
Market in Australia to record 3% CAGR over forecast period of 2021- 2031.

Competitive Landscape

With several OTC analgesics product manufacturers, the market is fiercely competitive.

Rising prevalence of pain-related conditions will open up a variety of new business opportunities. To take advantage of the opportunities, OTC analgesics manufacturing companies should concentrate on expanding their consumer base and strengthening their competitive position.

In May 2020, The European Commission has started the European Research Area (ERA) corona platform that will provide details on COVID-19 innovative solutions. Furthermore, the European Medicine Agency has suggested that mild COVID-19 symptoms be treated with non-steroidal anti-inflammatories (NSAIDs), such as ibuprofen and paracetamol, in the lowest dose form.

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