Global Over the Counter (OTC) Drugs Market Size, Share, Analysis, Industry Report and Forecast 2019-2025

The global over the counter (OTC) drugs market is anticipated to grow at a CAGR of around 7% during the forecast period. OTC drugs are intended to relieve from minor aches, pains, and itches and it can be bought easily without any prescription. Hundreds of OTC drugs are available at pharmacy stores including cosmetics and dietary supplements that can be sold directly to the consumer. According to Consumer Healthcare Product Association (CHPA) in 2018, around 81% adults in the US, uses OTC drugs as a first line of treatment.

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The major factors contributing to the growth of the OTC drugs market include the benefits offered by these drugs such as the lower chances of misuse and abuse and easy to use for self-diagnosed health conditions. In addition, health professional and prescription is not required. Additionally, government and regulations, funding and various initiatives will also drive the global OTC drugs market. For instance, in December 2019, Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2019 was passed in the US. The new law will work to reform and affect the safety, innovation, and affordability of over-the-counter drugs.

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However, certain risks associated with the OTC drug usage will restrict the growth of OTC drugs market. In addition to this, the OTC drugs still pose a risk for developing an addiction. Abuse of OTC drugs can lead to various health risks such as heart problems, heart problems, memory loss, and causality in some cases. The most commonly abused OTC medications include cough medicines. This abuse problem associated with OTC drug use will present as a challenge to the growth of the OTC drugs market during the forecast period.

Global Over the Counter (OTC) Drugs Market Segmentation

By Product Type

·         Analgesics and Pain Relievers

·         Cough, Cold and Flu Products

·         Vitamin & Mineral Supplements

·         Ophthalmic Products

·         Others

By Distribution Channel

·         Retail & Supermarket

·         Online Platform

Regional Analysis

·         North America

·         US

·         Canada

·         Europe

·         UK

·         Germany

·         Italy

·         Spain

·         France

·         Rest of Europe

·         Asia-Pacific

·         China

·         India

·         Japan

·         Rest of Asia-Pacific

·         Rest of the World

Company Profiles

·         Achelios therapeutics., Inc.

·         Alkem Laboratories Ltd.

·         Amgen Inc.

·         Amway Corp.

·         AstraZeneca PLC

·         Bayer AG

·         Boehringer Ingelheim International GmbH

·         Bristol-Myers Squibb Co.

·         Cipla Ltd.

·         Dr. Reddy’s Laboratories Ltd.

·         GlaxoSmithKline Plc

·         Glenmark Pharmaceuticals Ltd

·         Johnson & Johnson Services, Inc.

·         Merck KGaA

·         Novartis International AG

·         Perrigo Co. plc

·         Pfizer, Inc

·         Reckitt Benckiser Group plc

·         Sanofi SA

·         Sun Pharmaceutical Industries Ltd.

·         Teva Pharmaceutical Industries Ltd.

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