Over-The-Counter Drugs Market Thrives with New Innovations

According to latest research report published by Market Data Forecast, the over-the-counter drugs market will be worth USD 224.3 billion in 2024 and USD 338.16 billion by 2029, growing at a CAGR of 8.55 % from 2024 to 2029.

Over-the-counter drugs are medications that can be sold directly to people without any prescription. OTC drugs treat various medical illness and their symptoms like diarrhea, constipation, pain, colds and coughs, acne, and others. OTC drugs are beneficial to people by avoiding hospital visits and physician consultations.

Global Over-The-Counter Drugs Report Scope:
• Market Size (2029): USD 338.16 Billion
• Market Size (2024): USD 224.3 Billion
• CAGR (2024 to 2029): 8.55%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Product Type, Formulation Type, Distribution Channel and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, GSK Boehringer Ingelheim, Sanofi, Takeda, and PGT Healthcare are the top companies contributing to the Over the counter (OTC) drugs market. GlaxoSmithKline, Johnson and Johnson, Novartis, and Sanofi.

Avail sample market brochure of the report, ask @ https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market/request-sample

The increasing demand for self-medications and growing awareness among people regarding common medical illness and their treatment are majorly contributing to the adoption of over-the-counter drugs by raising the global market revenue. The increasing product approvals for OTC drugs are boosting the global over-the-counter drugs market. Various advantages of OTC drugs, such as cost-effectiveness and ease of availability, enhance the adoption of OTC drugs globally among people. According to the survey published by the National Center for Biotechnology Information, OTC drugs save the U.S around USD 100 billion each year. Most pharmaceutical companies are switching from prescribed drugs to OTC drugs when meeting their patent expirations, fueling the global over-the-counter drugs market growth. The growing market trend for individualized drugs for minor medical issues and healthcare payers' implementation of treatment procedures is propelling global market revenue growth. A significant and massive number of over-the-counter drug manufacturers are increasing distribution worldwide, which fuels the expansion of the over-the-counter drug market.
The growing government initiative in developing the healthcare industry, which is increasing the establishment of pharmacies and pharmaceuticals, is raising the manufacturing and production of OTC drugs by enhancing global market revenue growth
The major restraining factor for global over-the-counter drugs is the misuse of OTC drugs. The incorrect diagnosis and substance abuse are the major factors hampering the adoption of OTC drugs. Another factor hampering the OTC drugs market is the rigorous government rules and the need for awareness among the people regarding the drug and its treatment for the disease. The increasing competition among the prominent players is challenging for manufacturers to survive. Most of the opioid drugs are available as OTC drugs, which can lead to substance abuse or, primarily, hinder the adoption of OTC drugs. The increasing cases of adulterated drugs for low cost are limiting the OTC drugs market growth. The cases of overdose and wrong medication are increasing which is limiting the expansion of global market growth. is the requirement for health standards compared to hospital care.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market

Key Insights from The Report:
• By product type, More than half of the market share belongs to categories like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories based on the product type.
• Based on product type, the vitamins and minerals supplements segment is expected to grow at the fastest CAGR during the forecast period.
• Based on formulation type, the tablets segment is expected to grow at the fastest CAGR during the forecast period.
• North America dominated the Over-the-counter drugs market in 2023. Europe accounted for second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, GSK Boehringer Ingelheim, Sanofi, Takeda, and PGT Healthcare are the top companies contributing to the Over the counter (OTC) drugs market. GlaxoSmithKline, Johnson and Johnson, Novartis, and Sanofi, are dominated the Over-the-counter drugs market.

The report can be customized as per the requirements, ask @ https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market/customization

SEGMENTATION INCLUDED IN THIS REPORT:

By Product Type:
• Analgesics
• Cough, Cold, and Flu Products
• Vitamins and Minerals
• Dermatological Products
• Gastrointestinal Products
• Ophthalmic Products
• Sleep Aid Products
• Weight Loss/Diet Products
• Others
By Formulation Type:
• Tablets
• Liquids
• Ointments
• Sprays
By Distribution Channel:
• Pharmacies
• Supermarkets/Hypermarkets
• Convenience stores
• Others (Online Drug Stores)
By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Browse Regional Reports:

North America Over the Counter (OTC) Drugs Market Research Report - Segmented By Product Type, Formulation Type, Distribution Channels & Country (The United States, Canada and Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/na-over-the-counter-drugs-market
Europe Over the Counter Drugs Market Research Report - Segmented By Product Type, Formulation Type, Distribution Channels & Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/europe-over-the-counter-drugs-market
APAC Over the Counter Drugs (OTC) Market Research Report - Segmented By Product Type, Formulation Type, Distribution Channels & Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/apac-over-the-counter-drugs-market
Latin America Over the Counter Drugs Market Research Report - Segmented By Product Type, Formulation Type, Distribution Channels & Country (Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis, Size, Share, Growth, Trends, & Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/la-over-the-counter-drugs-market
Middle East and Africa Over the Counter (OTC) Drugs Market Research Report - Segmented By Product Type, Formulation Type, Distribution Channels & Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from (2024 to 2029) - https://www.marketdataforecast.com/market-reports/mea-over-the-counter-drugs-market

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.1 Analgesics
5.1.2 Cough, Cold and Flu Products
5.1.3 Vitamins and Minerals
5.1.4 Dermatological Products
5.1.5 Gastrointestinal Products
5.1.6 Ophthalmic Products
5.1.7 Sleep Aid Products
5.1.8 Weight Loss/Diet Products
5.1.9 Others
5.2 By Formulation Type
5.2.1 Tablets
5.2.2 Liquids
5.2.3 Ointments
5.2.4 Sprays
5.3 Distribution Channels
5.3.1 Pharmacies
5.3.2 Supermarkets/Hypermarkets
5.3.3 Convenience stores
5.3.4 Others (Online Drug Stores)
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders Analysis
8.1 GlaxoSmithKline
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Johnson and Johnson
8.3 Novartis
8.4 Bayer
8.5 Pfizer
8.6 Boehringer Ingelheim
8.7 Sanofi
8.8 Takeda
8.9 PGT Healthcare
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures

Contact Us:
Market Data Forecast
www.marketdataforecast.com
Phone: +1-888-702-9626
Email: sales@marketdataforecast.com
5th Floor, Trendz Pride, Patrika Nagar Rd Number 1, HUDA Techno Enclave, HITEC City, Hyderabad, Telangana 500081, India

Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

This release was published on openPR.