Press release
US OTC Drugs Market Size To Worth US$ 32.9 Billion by 2028 | IMARC Group
United States Over The Counter (OTC) Drugs Market 2023-2028
How big is the United States Over The Counter Drugs market?
The United States over the counter (OTC) drugs market size reached US$ 24.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
What are Over The Counter Drugs?
Over-the-counter (OTC) drugs are medical products that are considered safe and effective for the general public to use without the need for professional healthcare supervision. They comprise analgesics, antihistamines, antacids, cough and cold medications, and dermatological products, which are used to treat various skin conditions, such as hydrocortisone creams. They are sold directly to consumers without a prescription from a healthcare provider. They are primarily used to treat minor health issues such as colds, allergies, headaches, and digestive problems. They can also be used for preventive care, such as vitamins and supplements to maintain good health. Furthermore, as OTC drugs are easily available and affordable, their demand is rising in the United States.
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What are the growth prospects and trends in the United States over the counter drugs industry?
At present, the increasing preference among consumers for self-medication to manage minor health issues without medical intervention represents one of the crucial factors impelling the market growth in the United States. Besides this, the rising demand for OTC drugs due to the increasing occurrence of chronic ailments is propelling the growth of the market.
In addition, the growing technological improvements in the healthcare sector, including mobile applications and online platforms that provide information about medications and facilitate OTC drug purchases, are offering a favorable market outlook in the United States. Apart from this, the increasing adoption of innovative marketing strategies that provide information and facilitate OTC drug purchases to improve their sales is supporting the growth of the market.
Additionally, the rising integration of advanced manufacturing practices and investment in research and development (R&D) endeavors to manufacture new, effective, and safe OTC drugs is bolstering the growth of the market in the United States.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
• Cough, Cold and Flu Products
• Analgesics
• Dermatology Products
• Gastrointestinal Products
• Vitamins, Minerals and Supplements (VMS)
• Weight-loss/Dietary Products
• Ophthalmic Products
• Sleeping Aids
• Others
Breakup by Route of Administration:
• Oral
• Parenteral
• Topical
• Others
Breakup by Dosage Form:
• Tablets and Capsules
• Liquids
• Ointments
• Others
Breakup by Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
Breakup by Region:
• Northeast
• Midwest
• South
• West
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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