Global Over The Counter (OTC) Drugs Market to Reach USD 288.3 Billion by 2033, Accelerated by Increasing Utilization of OTC Drugs

December 25, 2024 | Healthcare

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As per the latest report by IMARC Group, titled "Over The Counter (OTC) Drugs Market Report 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, and Others), Route of Administration (Oral, Parenteral, Topical, and Others), Dosage Form (Tablets and Capsules, Liquids, Ointments, and Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Region 2025-2033," the global over the counter (OTC) drugs market size reached USD 178.0 Billion in 2024. Over the counter (OTC) drugs are medications that can be purchased without a prescription from a healthcare provider. These drugs are used to treat a variety of common health conditions, such as headaches, allergies, and minor aches and pains. The main advantages of OTC drugs include their affordability and easy accessibility in drugstores, supermarkets, and online platforms. Currently, there are several different types of OTC drugs available in the market, including pain relievers, cough and cold medicines, allergy medications, and digestive aids.

Global Over The Counter (OTC) Drugs Market Trends:

The global market for over the counter (OTC) drugs is experiencing significant growth on account of the increasing use of OTC drugs to treat minor ailments such as headaches and colds. Additionally, the recent COVID-19 outbreak has led to a rise in awareness among individuals about the importance of self-care, which has contributed to increased sales of nutritional supplements, further strengthening the market growth. In line with this, key market players are expanding their product portfolios to attract a wider consumer base and increase their geographical presence, which, in turn, is bolstering the market growth. Furthermore, governments in various nations are approving the switching of prescription drugs to OTC drugs, which is creating a positive impact on the market. Apart from this, the rising healthcare costs have compelled consumers to opt for OTC drugs instead of consulting physicians, which is fueling the market growth. Other factors, such as the burgeoning geriatric population, the rapidly expanding healthcare sector, significant growth in the pharmaceutical industry, and significant improvements in distribution channels, are propelling the market growth. Looking forward, the market value is projected to reach USD 288.3 Billion by 2033, expanding at a CAGR of 5.23% during 2025-2033.

Market Summary:

Based on product type, the market is divided into cough, cold and flu products, analgesics, dermatology products, gastrointestinal products, vitamins, minerals, and supplements (VMS), weight-loss/dietary products, ophthalmic products, sleeping aids, and others.
By route of administration, the market is segmented into oral, parenteral, topical, and others.
On the basis of the dosage form, the market is segregated into tablets and capsules, liquids, ointments, and others.
Based on the distribution channel, the market is divided into hospital, retail, online, and other pharmacies.
Based on region, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Alkem Laboratories Limited, Bayer AG, Daiichi Sankyo Company Limited, Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Perrigo Company plc, Pfizer Inc., Piramal Enterprises Ltd., Reckitt Benckiser Group PLC, Sanofi S.A., Sun Pharmaceutical Industries Ltd. and Teva Pharmaceutical Industries Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Product Type, Route of Administration, Dosage Form, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Alkem Laboratories Limited, Bayer AG, Daiichi Sankyo Company Limited, Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Perrigo Company plc, Pfizer Inc., Piramal Enterprises Ltd., Reckitt Benckiser Group PLC, Sanofi S.A., Sun Pharmaceutical Industries Ltd. and Teva Pharmaceutical Industries Ltd.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Over The Counter (OTC) Drugs Market to Reach USD 288.3 Billion by 2033, Accelerated by Increasing Utilization of OTC Drugs

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