The European Over-the-counter drugs market was estimated at USD 60.24 Billion in 2023 and is projected to reach USD 96.02 Billion by 2029 from USD 65.11 billion in 2024, growing at a CAGR of 8.08% between 2024 and 2029.
The European over-the-counter drugs market accounted for notable growth in the past years and is anticipated to grow significantly in the coming years. According to the data published, a cross-sectional observational study was carried out, targeting the entire Spanish population using an online questionnaire. The results showed that 78.9% of the subjects had previously taken or were currently taking OTC drugs. The growing consumer awareness and escalating demand for non-prescription drugs, a rising senior population with more health issues augmenting the European growth rate.
People are becoming health conscious, and they are accessible to information regarding minor health issues, which is making them avoid doctor consultations and practice self-medication. The accessibility for OTC drugs is at ease without a doctor's direct contact. Pain relievers, cough and cold supplements, vitamins, and immunity boosters are widely sold as OTC drugs. OTC drugs provide convenience and accessibility to consumers for common health issues, accelerating Europe's over-the-counter drugs market growth. Sustainable pains, colds, and coughs are common ailments observed in the daily life of people; these cases cannot be in consultation with a doctor, where people can manage themselves. Vitamins and immunity boosters are the dietary supplements many consume, which are available as OTC medications. An article in 2021, "Dietary Supplements and Nutraceuticals Market Growth during the Pandemic – Implications for Consumers and Regulatory Oversight," indicated that sales of vitamins in the UK increased by 63% compared to the previous year.
Senior people are highly prone to chronic diseases such as diabetes, cancer, and cardiovascular diseases, where the common symptoms and side effects include pains, body aches, and others that OTC medications can treat. According to a Eurostat article on population aging and structure in 2022, 20.8% of people in the European Union were aged 65 years and above within a year. Certain common conditions such as athlete's foot, tooth decay and toothache, several allergies, migraine, and antiseptics for wound dressing are majorly acting by increasing the demand for OTC medications, increasing the market growth. The availability of OTC drugs for fatigue and anxiety was fuelling the market expansion.
The widespread availability of OTC medications with efficient cost benefits for healthcare providers is expected to create lucrative opportunities for the market in the forecast period. Online retailing of medications is a huge opportunity to expand the European over-the-counter drugs market. The availability of medicines online with direct delivery is capturing people's attention, and self-medication practices among people were estimated to seek opportunities over the forecast period.
The increasing use of over-the-counter drugs by people repeatedly without doctor consultation may lead to critical conditions, which in turn put pharmacies and drug stores in a challenging situation; these kinds of situations hamper the European over-the-counter drugs market. The increasing cases of wrong medications among people leading to life-threatening situations were expected to hinder the OTC drugs market in the forecast period.
The presence of stringent regulations by the European Medicines Agency for approval of drugs, where the safety and efficacy of the drugs will be significant challenges to manufacturers expanding the market, as there is a high chance of product delays. Another primary factor restricting access to OTC drugs is the misuse of OTC drugs by people due to limited knowledge regarding the consumption of the drug, which hampers the market growth across the European region. The side effects associated with the excessive consumption of the drugs and the massive competition from the generic drugs as they are of low cost compared to the branded drugs, which limits the expansion of the market size. The high risk of adulterated or low-quality drug products that affect the patient's health is expected to impede the market growth opportunities.
The pandemic has positively impacted the European over-the-counter drugs market, as OTC drugs are in high demand due to the closure of hospitals and clinics. The restricted visits to health professionals and physicians for medical assistance have moved people towards OTC drugs, such as painkillers, as a temporary solution. COVID-19 influenced people to maintain good health, and many people started consuming dietary supplements and vitamins, which increased the European market share during the pandemic. The increased online pharmacy services by the giant market players drove the market growth.
Based on product type, the cough, cold, and flu segment had a significant share of the over-the-counter drugs market in Europe in 2023, and the domination of the segment is expected to continue throughout the forecast period. The availability of various drugs, increasing incidence of cough and cold among people, growing aging population in Europe, and increasing pollution levels are propelling the growth of the segment.
The analgesics and gastrointestinal products segment is expected to grow considerably during the forecast period. The rising prevalence of stomach problems and muscle pain among the elderly population, most commonly observed with growing age, is boosting the segment growth.
The vitamins and minerals segment has witnessed moderate growth in the past years and is projected to have a notable growth rate in the coming years. An article titled "Dietary Supplements and Nutraceuticals Market Growth During the Coronavirus Pandemic," published in the Journal of Pharmanutrition in 2021, indicated that sales of vitamins in the United Kingdom increased by 63% compared to the past years. The pandemic influenced European people to seek immunity, which pushed the segment to grow.
The tablets segment led the market in 2023 based on the formulation type. Europe is one of the regions that had a significant impact by COVID-19. During the COVID-19 pandemic, the consumption of drugs in tablet form has increased significantly. Even though the absorption rate is slow for tablets, the tablets' bioavailability and drug effect are high for, which fuels the segment growth. The tablet is preferred for people above age 12 years and children below age who are suspended.
The liquids segment is estimated to grow steadily during the forecast period as the bioavailability of syrups is higher than that of tablets. The liquid segment is gaining traction due to the rising demand for antipyretic syrups among children, fueling market growth.
The pharmacies segment held the most significant market share in the European over-the-counter drugs market. Over-the-counter drugs are available in supermarkets and hypermarkets. Most people prefer pharmacies and experienced pharmacists to avoid drug misuse, which propels the segment's growth. The rising senior population leads to a rise in various health issues, which enhances the adoption of OTC drugs due to the rising trend of self-medication, which fuels market growth.
The online drug store segment is estimated to have the fastest growth over the forecast period due to rising technology adoption among people, which boosts online purchases. Most people adopted digital platforms for shopping after the pandemic as they provided various benefits like doorstep delivery, ease of payments, and accessibility to diverse branded and generic drugs, which augments the segment growth rate.
The European region was second in dominating the global market, with a significant share in the over-the-counter drug market.
The UK is predicted to continue accounting for a significant share of the European over-the-counter drugs market during the forecast period due to advancements in healthcare and increasing investments in the healthcare sector. According to an article in 2021, titled "Access to Medicines via Non-Pharmacy Outlets in European Countries- A Review of Regulations and Their Influence on the Self-Medication Phenomenon," published in the Journal of Healthcare stated that consumers in the UK are allowed to buy the medicines from retail outlets such as supermarkets, petrol stations, and corner shops, the ease of availability of OTC drugs is expected to drive the market in the country. Approving new non-prescribed drugs in the region is enhancing the European market share. All the over-the-counter drugs in the UK are approved by the Medicines and Healthcare Products Regulatory Agency based on their safety profiles; there is no need for permission from a general physician to consume these drugs.
German over-the-counter drugs market was expected to witness promising market share over the forecast period due to its high adoption of OTC drugs from prescribed drugs. The increasing number of geriatric patients with cold and cough issues increases the demand for OTC drugs—increasing government support for the over-the-counter drugs market through funding and approvals fuels market size growth. The changing consumer behavior towards self-medication practices and the presence of well-established pharmaceutical companies and key market players are propelling market growth in the region.
In addition, emerging countries such as Italy and Spain are projected to have a decent growth rate in the upcoming years due to growing healthcare across the European region. According to the British Medical Association, in 2022, non-prescription or over-the-counter drugs can be given to a child without authorization from the school or nursery. These scenarios are escalating the market growth opportunities in various countries.
A few of the key players in the European Over-the-counter drugs Market profiled in this report are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi, and Takeda. They are the top companies contributing to the European over-the-counter drugs market. However, the loss of patent protection leads companies to switch to OTC.
Frequently Asked Questions
Key contributors to the market include Germany, France, the UK, and Italy, with each playing a crucial role in shaping regional trends.
Factors such as easy accessibility, cost-effectiveness, and a shift towards preventive healthcare are driving the European over the counter drugs market growth.
Factors such as stringent regulatory processes, competition from prescription drugs, and the need for effective marketing to differentiate products are primarily challenging the growth of the European over the counter drugs market.
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