Global OTC Drug And Dietary Supplement* Market to Reach $470.7 Billion by 2029, Growing at 7% CAGR

What market dynamics are playing a key role in accelerating the growth of the otc drug and dietary supplement* market?
The upward trend in pharma research and development (R&D) expenditure is set to stimulate the over-the-counter drug and dietary supplement* market in the future. These investments in R&D, which companies use to innovate, design, and improve their products, can lead to enhanced innovation and efficacy in the creation and formulation of over-the-counter drugs and dietary supplements. For example, as of December 2023, Eurostat, an EU statistical office based in Luxembourg, reported that in 2022, the research and development expenditure in the EU rose to €352 billion ($384.42 billion), a 6.34% increase from the €331 billion ($361.48 billion) spent the previous year. Consequently, the escalating expenditure on pharma research and development is fuelling the growth of the over-the-counter drug and dietary supplement* market.

Get Your OTC Drug And dietary supplement* Market Report Here:
https://www.thebusinessresearchcompany.com/report/otc-drug-and-dietary-supplement-global-market-report

How will the growth rate of the otc drug and dietary supplement* market shape industry trends by 2034?
In recent times, there has been significant growth in the over-the-counter (OTC) drug and dietary supplement* market. The sector is projected to expand from its 2024 size of $332.52 billion to reach $355.94 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.0%. The surge in growth during the historic period can be ascribed to factors such as the rise in the number of people focused on fitness, demographic changes and an aging population, the establishment of regulatory approvals and safety standards, development in pharmacy and retail sectors, and effective marketing and advertising strategies.

In the forthcoming years, substantial growth is anticipated in the OTC drug and dietary supplement* market. The market is set to balloon to $470.7 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. Factors driving the growth during this period include personalized nutrition and supplements, improvements in nutraceuticals, the proliferation of functional foods, the worldwide health crisis and readiness, along with government wellness initiatives. Noteworthy trends throughout this forecast period encompass product innovations, transparency in labelling and natural ingredients, the use of cannabidiol* cb*d) and hemp in products, eco-friendly and sustainable packaging, as well as partnerships and alliances.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12096&type=smp

What new trends are reshaping the otc drug and dietary supplement* market and its opportunities?
The surge of product innovation is a notable trend emerging in the OTC drug and dietary supplement* market. Major firms in this segment are introducing innovative items to consolidate their market stance. For example, Dr. Reddy's Laboratories Ltd., an eminent pharmaceutical firm from India, rolled out Fexofenadine HCl 180 mg and Pseudoephedrine HCl 240 mg extended-release OTC tablets in July 2022. This over-the-counter oral antihistamine and nasal decongestant provide temporary relief from nasal and sinus congestion caused by allergies or common cold, marking a significant enhancement to the OTC upper respiratory product range.

Which primary segments of the otc drug and dietary supplement* market are driving growth and industry transformations?
The OTC drug and dietary supplement* market covered in this report is segmented -

1) By Category: Vitamin And Dietary Supplements, Cough And Cold Products, Analgesics, Gastrointestinal Products, Sleep Aids, Otic Products, Wart Removers, Mouth Care Products, Ophthalmic Products, Other Categories
2) By Dosage Form: Tablets, Hard Capsules, Powders, Ointments, Soft Capsules, Liquids, Other Dosage Forms
3) By Application: Pharmacies, Grocery Stores, Vitamin And Health Food Stores, Online Pharmacies

Subsegments:
1) By Vitamin And Dietary Supplements: Multivitamins, Mineral Supplements, Herbal Supplements, Omega-3 Fatty Acids, Probiotics, Specialty Supplements
2) By Cough And Cold Products: Cough Suppressants, Expectorants, Decongestants, Combination Products
3) By Analgesics: Acetaminophen, NSAIDs, Topical Analgesics
4) By Gastrointestinal Products: Antacids, Laxatives, Antidiarrheals, Proton Pump Inhibitors
5) By Sleep Aids: Melatonin, Antihistamines, Herbal Sleep Aids
6) By Otic Products: Ear Wax Removal Aids, Ear Drops For Infections, Anti-itch Ear Products
7) By Wart Removers: Salicylic Acid Products, Cryotherapy Kits
8) By Mouth Care Products: Mouthwashes, Toothpastes, Oral Rinses For Freshness
9) By Ophthalmic Products: Artificial Tears, Allergy Eye Drops, Redness Relievers
10) By Other Categories: Nutraceuticals, Topical Treatments For Skin Conditions, First Aid Products

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12096

Which geographical regions are pioneering growth in the otc drug and dietary supplement* market?
North America was the largest region in the OTC drug and dietary supplement* market in 2024. The regions covered in the OTC drug and dietary supplement* market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the otc drug and dietary supplement* market landscape?
Major companies operating in the OTC drug and dietary supplement* market include Pfizer Inc., Johnson & Johnson Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Sanofi S.A, Abbott Laboratories Inc, GSK plc, Gilead Sciences Inc., Reckitt Benckiser Plc., Teva Pharmaceutical Industries Ltd., Alcon Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Church & Dwight* Co Inc, Perrigo Company plc, Dr. Reddy's Laboratories Ltd., Cipla Limited, Glenmark Pharmaceuticals Limited, Alkem Laboratories Ltd, Nutraceutical International Corporation, Procter & Gamble Health Limited, Reese Pharmaceutical Company, UPM Pharmaceuticals Inc, Gemini Pharmaceuticals Inc., Pharmavite LLC, Now Health Group Inc., Alfresa Pharma Corporation

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12096&type=smp

What Is Covered In The OTC Drug And dietary supplement* Global Market Report?

• Market Size Forecast: Examine the otc drug and dietary supplement* market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the otc drug and dietary supplement* market for a structured understanding.
• Key Players Overview: Analyze major players in the otc drug and dietary supplement* market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the otc drug and dietary supplement* market.
• Segment Contributions: Evaluate how different segments drive overall growth in the otc drug and dietary supplement* market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the otc drug and dietary supplement* market.
• Industry Challenges: Identify potential risks and obstacles affecting the otc drug and dietary supplement* market.
• Competitive Landscape: Review strategic developments in the otc drug and dietary supplement* market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.