Over the Counter Drugs Market Size, Share, Competitive Insights, Outlook, and Forecasts 2023-2030 | Market Report by RationalStat

The global over the counter (OTC) drugs market is projected to reach US$ 222.3 billion by 2030, at a CAGR of 6.6%.

Global Over the Counter Drugs Market size is valued at US$ 142.5 billion in 2023 and is predicted to rise at a substantial CAGR of 6.6% during the forecast period of 2023 and 2030 according to RationalStat analysis.

Market Definition, Market Scope, and Report Overview
The growth in the OTC drug market is attributed to the high cost of drugs leading to shifting towards OTC drugs and increasing approval of OTC drugs. A rise in the price of a prescription drug is expected to increase the demand for self-medication with over-the-counter (OTC) drugs.

Furthermore, the key market players increasing product innovation supports the market growth over the forecast period. The rise in the population of elderly people and favourable regulatory policies are the major factors that will enhance the market growth rate. Furthermore, rising patent expirations of many drugs resulting in use as OTC drugs and affordable cost of these drugs are the factors that will expand the over the counter (OTC) drugs market.

• According to a deep-dive market assessment by RationalStat, the over the counter drugs market has been analyzed on the basis of market segments, including product type, formulation type, route of administration, distribution channel, end user, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the over the counter drugs market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the over the counter drugs market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Over the Counter Drugs Market: Segmental and Market Share Analysis

• On the basis of the distribution channel, the drug stores and retail pharmacies segment is anticipated to hold to major market share owing to the increasing number of retail pharmacies offering OTC products.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 142.5 billion
Market Size Forecast US$ 222.3 billion
Growth Rate 6.6%
Dominant Segment Cold & Cough Remedies Segment
Leading Region North America

Key Market Drivers
• Expansion in emerging markets
• Rise in online retailing
• Increasing self-medication practices
• Increasing safety standards across the globe

Companies Profiled
• Johnson & Johnson Services Inc.
• Bayer AG
• Novartis AG
• Sanofi SA
• Pfizer
• Glaxo Smith Kline
• Reckitt Benckiser Group Plc
• Takeda Pharmaceutical Company Ltd
• Perrigo Company Plc
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.
• Glenmark Pharmaceuticals Ltd.
• Dr. Reddy's Laboratories

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Competition Analysis and Market Structure

Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the over the counter drugs market include,

• In June 2021, Bayer announced the approval of Astepro Allergy from the U.S. Food and Drug Administration (FDA) as an over the counter (OTC) product for the temporary relief of nasal congestion runny nose Itchy nose, and other respiratory allergies

• In March 2020, GSK announced that the company received approval of Advil Dual Action with Acetaminophen from the U.S. Food and Drug Administration (FDA) as an over the counter (OTC) product for pain relief. It is the first FDA-approved OTC combination of ibuprofen and acetaminophen in the U.S., and will be available globally.

Some of the prominent players and suppliers operating and contributing significantly to the probiotics supplement market growth include Johnson & Johnson Services Inc., Bayer AG, Novartis AG, Sanofi SA, Pfizer, Glaxo Smith Kline, Reckitt Benckiser Group Plc, Takeda Pharmaceutical Company Ltd, Perrigo Company Plc, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals Ltd., and Dr Reddy's Laboratories, among others.

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RationalStat has segmented the over the counter drugs market based on product type, formulation type, route of administration, distribution channel, end user, and region
• Global Over the Counter Drugs Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product Type
o Analgesics
o Cold & Cough Remedies
o Digestives & Intestinal Remedies
o Skin Treatment
o Dermatology Products
o Gastrointestinal Products
o Weight Loss/Dietary Products
o Ophthalmic Products
o Sleeping Aids
o Vitamins & Minerals
o Others
• Global Over the Counter Drugs Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Formulation Type
o Tablets & Capsules
o Liquids
o Ointments
o Sprays
• Global Over the Counter Drugs Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Route of Administration
o Oral
o Parenteral
o Topical
o Others
• Global Over the Counter Drugs Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
o Hospital Pharmacy
o Retail Pharmacy
o Online Pharmacies
o Others
• Global Over the Counter Drugs Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
o Specialty Clinic
o Homecare
o Hospital
o Others
• Global Over the Counter Drugs Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
o North America Over the Counter Drugs Market
 US
 Canada
o Latin America Over the Counter Drugs Market
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Over the Counter Drugs Market
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Over the Counter Drugs Market
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Over the Counter Drugs Market
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Over the Counter Drugs Market
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Over the Counter Drugs Report:
• What will be the market value of the over the counter drugs market by 2030?
• What is the market size of the over the counter drugs market?
• What are the market drivers of the over the counter drugs market?
• What are the key trends in the over the counter drugs market?
• Which is the leading region in the over the counter drugs market?
• What are the major companies operating in the over the counter drugs market?
• What are the market shares by key segments in the over the counter drugs market?

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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoints to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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