Over the Counter Drugs Market, By Product Type (Analgesics, Cold & Cough Remedies, Digestive & Intestinal Remedies, Weight Loss Products, Gastrointestinal Products Skin Treatment, Vitamins & Minerals Supplements, Sleeping Aids, Ophthalmic Products, Others), By Dosage Type (Tablets, Liquids, Ointments, Hard Capsules, Powders, Soft Capsules, Sprays), By Distribution Channel (Drug Store & Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI505723 | Publish Date: March 2024 | No. of Pages: 175

Over The Counter Drugs Market Overview

Over the Counter Drugs Market Size was valued at USD 137.1 billion in 2024 and is projected to grow at a CAGR of 3.5% to reach USD 186.95 billion by 2034.

Over-the-counter refers to the trading of securities between two counterparties outside of a formal exchange and without the supervision of an exchange regulator. OTC trading is done in the over-the-counter market (a decentralized location without a physical location) through a dealer network. Over-the-counter medicines are medicines that are legally allowed to be sold by a pharmacist without a prescription. For the most part, they are common medicines that everyone knows about, acetaminophen (paracetamol), aspirin, vitamins, pain balms, digestives, antacids, cold rubs, cold tablets, antiseptic creams, glucose powder, cough syrup, throat lozenges, band-aids, etc. There are some examples of OTC drugs. Examples of over-the-counter medications are acetaminophen, aspirin, antacids, decongestants, antihistamines, and laxatives. Over-the-counter medicine is also known as OTC or non-prescription medicine, all of which terms are referential and effective when you follow the directions on the label and as directed by your health care professional. Some examples of OTC medications that can be purchased without a prescription are pain relievers such as acetaminophen (Tylenol) and ibuprofen (Advil, Motrin), cough suppressants such as Robitussin, antihistamines such as Claritin, antacids, laxatives, and diarrhea remedies such as Imodium A-Bazole.  

OTP drugs are those that can be sold directly to the public without a prescription, OTC drugs treat various diseases and their symptoms including pain, cough and cold, diarrhea, constipation, rash and others. Another convenience offered by OTC products is that they save patient time as they do not require a consultation with a healthcare provider for a prescription. OTC medicines also provide consumers with the convenient value of choice by offering a variety of treatment options. Safety depends on the correct use of drugs, for OTC drugs, correct use often depends on consumer self-diagnosis, which leaves room for error. For example, most headaches are not dangerous, but in rare cases, headaches are an early warning sign of a brain tumor or hemorrhage. The trend of pharmaceutical companies from Rx drugs to OTC drugs is expected to fuel the growth of the over the counter drugs market during the forecast period. Increasing disease burden, increasing demand for OTC drugs and growing trend of self-medication are driving the over the counter drugs market.

Over The Counter Drugs Market Dynamics

A key factor contributing to the market growth during the forecast period is the increasing availability and affordability of over-the-counter and OTC products driving the market growth. Key factors driving the growth of the over the counter market are consumer attitudes toward self-medication, product innovation, and the shift of pharmaceutical companies from prescription drugs to OTC drugs. In addition, the availability and affordability of these drugs has increased the market acceptance rates of OTC drugs and is driving market growth. However, a large number of drugs, such as antacids, cold and cough preparations, laxatives, analgesics, vitamins, anti-allergy products are used as self-medication products in India. Thus, these factors are expected to drive the growth of the overall market.  OTC medicines are an important factor in improving consumer health because they allow people to conveniently and successfully treat or manage many health conditions because they enable people to self-medicate. OTC medicines save valuable resources in the health system and save consumers time and money. Benefits include fewer physician visits, resulting in lower health care system costs, common risks associated with OTC pain reliever use may include incorrect self-diagnosis, resulting in serious illness, risk of drug-drug interactions and adverse effects, and potential abuse and misuse. Due to technological advancement, there are new drugs in the market which in turn is driving the over the counter drugs market.  Manufactures involved in Over the Counter Drugs Market are developing advanced versions of their products due to new age technological advancements. Key players of Over the Counter Drugs are investing more in power systems and creating more modern, timesaving, cost-effective technology that has a positive impact on the Over the Counter Drugs Market.

Restraints:

Some of the limiting factors expected to restrain the over the counter drugs market during the forecast period are incorrect self-diagnosis leading to the use of wrong medicines. Health risks of long-term use of OTC drugs include kidney and liver problems, high blood pressure and even an increased risk of heart attack or stroke, and stomach ulcers or bleeding, according to the Cleveland Clinic. Although less potent than other substances, OTC drugs carry the risk of addiction, and abuse of OTC drugs can lead to health problems including memory loss, kidney failure, heart problems, and death,  Some commonly abused OTC medications include: Cough medicines. Factors such as strong competition among existing players, high possibility of drug abuse and addiction, complications and seriousness of taking wrong drugs due to misdiagnosis or wrong self-diagnosis and lack of knowledge among rural people in developing and underdeveloped economies. Curbing the growth of the over the counter drugs market also stringent government rules and regulations and potential for drug abuse and lack of awareness in rural areas also restrict the growth of over the counter drugs market.

Over The Counter Drugs Market Segmentation

Over The Counter Drugs Market Segmentation

On the basis of Product type, the Over the Counter Drugs Market is segmented into Analgesics, Cold & Cough Remedies, Digestive & Intestinal Remedies, Weight Loss Products, Gastrointestinal Products Skin Treatment, Vitamins & Minerals Supplements, Sleeping Aids, Ophthalmic Products, Others. On the basis of dosage type, the target market is classified into Tablets, Liquids, Ointments, Hard Capsules, Powders, Soft Capsules, and Sprays. On the basis of distribution channel, the target market is classified into Drug Store & Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies.

Regional Insights:

On region the Over the Counter Drugs Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  In the region, North America is expected to hold the highest market share during the forecast period due to the growing trend of self-medication including OTC pain relievers and new product launches. North America is expected to dominate the over counter drugs market.

Over The Counter Drugs Market Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Product Type - Analgesics, Cold & Cough Remedies, Digestive & Intestinal Remedies, Weight Loss Products, Gastrointestinal Products Skin Treatment, Vitamins & Minerals Supplements, Sleeping Aids, Ophthalmic Products, Others

By Dosage Type - Tablets, Liquids, Ointments, Hard Capsules, Powders, Soft Capsules, Sprays

By Distribution Channel - Drug Store & Retail Pharmacies, Hospital Pharmacies, Online Pharmacies

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Over the Counter Drugs Market report based on products type, dosage type, distribution channel, and region:

Over the Counter Drugs Market, By Product Type:

  • Analgesics
  • Cold & Cough Remedies
  • Digestive & Intestinal Remedies
  • Weight Loss Products
  • Gastrointestinal Products Skin Treatment
  • Vitamins & Minerals Supplements
  • Sleeping Aids
  • Ophthalmic Products
  • Others

Over the Counter Drugs Market, By Dosage Type:

  • Tablets
  • Liquids
  • Ointments
  • Hard Capsules
  • Powders
  • Soft Capsules
  • Sprays

Over the Counter Drugs Market, By Distribution Channel:

  • Drug Store & Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

Over the Counter Drugs Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Over The Counter Drugs Market Key Players

The key players operating the Over the Counter Drugs Market includes, Johnson & Johnson, Pfizer, Bayer AG, Sanofi S.A., Novartis AG, Boehringer Ingelheim International GmbH, AstraZeneca, Bristol Myers Squibb, Reckitt Benckiser Group PLC, Takeda Pharmaceutical Company Ltd.

Over the Counter Drugs Market Players

Over The Counter Drugs Market Key Issues Addressed

  • In April 2024, Govt mulls allowing sale of common medicines in general stores. A government-appointed committee is contemplating the idea of making commonly used drugs like cough and cold medicines, antacids, and fever-reducing drugs available at general stores in India. The committee, entrusted with formulating India's over-the-counter (OTC) drug policy.
  • In March 2024, FDA offers guidance on minor label changes for OTC drugs. The US Food and Drug Administration (FDA) has clarified definitions and appropriate reporting of minor label changes for over-the-counter (OTC) drugs in draft guidance expected to reduce regulatory burden on both industry and FDA.
  • In November 2023, Cheap over-the-counter nail drug found to work on crippling flesh-eating disease. ‘Momentous’ breakthrough as trial finds treatment for nail infections to be highly effective for neglected tropical disease.
  • In November 2021, Misuse of prescription and over-the-counter drugs to obtain illicit highs. The misuse of a range of prescription and over-the-counter (OTC) drugs for recreational purposes. The use of psychoactive pharmaceuticals and ‘pharming’ are new, widespread phenomena involving the non-medical use of prescription and OTC drugs, which are recreationally used to achieve psychoactive effects either on their own or in combination with other substances.

Over The Counter Drugs Market Company Profile

  • Johnson & Johnson*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Pfizer
  • Bayer AG
  • Sanofi S.A.
  • Novartis AG
  • Boehringer Ingelheim International GmbH
  • AstraZeneca
  • Bristol Myers Squibb
  • Reckitt Benckiser Group PLC
  • Takeda Pharmaceutical Company Ltd.

 “*” marked represents similar segmentation in other categories in the respective section.

Over The Counter Drugs Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Dosage Types
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Dosage Types
      • Secondary Dosage Types
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Product Type
      • Market Snippet, By Dosage Type
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Market Segmentation, By Product Type
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Analgesics
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Cold & Cough Remedies
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Digestive & Intestinal Remedies
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Weight Loss Products
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Gastrointestinal Products Skin Treatment
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Vitamins & Minerals Supplements
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Sleeping Aids
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Ophthalmic Products
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Other
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  6. Market Segmentation, By Dosage Type
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Tablets
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Liquids
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Ointments
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Hard Capsules
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Powders
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Soft Capsules
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Sprays
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  7. Market Segmentation, By Distribution Channel, 2024 – 2034, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Drugs Store & Retail Pharmacies
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Hospital Pharmacies
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Online Pharmacies
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  8. Global Market, By Region, 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Product Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Dosage Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Product Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Dosage Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Product Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Dosage Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Product Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Dosage Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Product Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Dosage Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  10. Company Profiles
  • Johnson & Johnson
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Pfizer
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Bayer AG
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sanofi S.A
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Novartis AG
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Boehringer Ingelheim International GmbH
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • AstraZeneca
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Bristol Myers Squibb
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Reckitt Benckiser Group PLC
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Takeda Pharmaceutical Company Ltd.
    • Company Overview
    • Product Type Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Over the Counter Drugs Market is segmented based on product type, dosage type, distribution channel and region.

The availability and affordability of these drugs has increased the market acceptance rates of OTC drugs and is driving market growth.

Curbing the growth of the over the counter drugs market also stringent government rules and regulations and potential for drug abuse and lack of awareness in rural areas also restrict the growth of over the counter drugs market.

North America is expected to dominate the over counter drugs market.

The Key players operating in the Over the Counter Drugs Market includes Johnson & Johnson, Pfizer, Bayer AG, Sanofi S.A., Novartis AG, Boehringer Ingelheim International GmbH, AstraZeneca, Bristol Myers Squibb, Reckitt Benckiser Group PLC, Takeda Pharmaceutical Company Ltd.