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Pulished Date April, 2021
ID: 462
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North America Over the Counter Drugs Market Research Report - Segmented By Product Type, Formulation Type, Distribution Channels & Country (The United States, Canada and Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2021 to 2026)

Pulished: April, 2021
ID: 462
Pages: 145

North America OTC Drugs Market Size (2021 to 2026)

The size of the North American Over Counter drugs market was estimated at USD 60.00 billion in 2021. It is further projected to grow and be worth USD 86.94 billion by 2026, growing at a CAGR of 7.70% between 2021 and 2026.

Shifting the focus of pharmaceutical companies on OTC drugs over prescription drugs is fuelling the growth of the over-the-counter drugs market in North America. Increasing preference of the people to opt for the counter drugs for minor injuries rather than seeking intensive treatment offered by healthcare professionals in the region, particularly in the countries like the U.S, Canada, and Mexico, is leading to increased demand for OTC drugs, which is boosting the growth of the over-the-counter drugs market in North America. In addition, many mid-size and small players are emerging in the region and introduce novel medications with lower prices, boosting the over-the-counter drugs market in this area.

Increasing the prevalence of unhealthy lifestyles and bad food habits as most people eat junk food leads to ineffective response for the already available drugs, which pushes the need for research and development activities, resulting in the launch of novel drugs at regular intervals into the market. This is cumulatively creating several growth opportunities for the emerging and key players functioning in the over-the-counter drugs market and is expected to continue the trend during the forecast period in North America. In addition, emerging economies of the countries like the U.S, Mexico, and Canada in North America and continually increasing demand for OTC drugs due to the large customer base are anticipated to provide lucrative opportunities for the market players in the region projection period.

Stringent regulations and procedures to release novel and innovative drugs into the market are the significant factors limiting the growth of North America over the counter drugs market. In addition, illegal usage of drugs is another major factor restricting the development of the North American OTC drug market. 

This research report on the North America OTC Drugs Market has been segmented and sub-segmented into the following categories:

By Product Type: 

  • Analgesics
  • Cough, Cold, and Flu Products
  • Vitamins and Minerals
  • Dermatological Products
  • Gastrointestinal Products
  • Ophthalmic Products
  • Sleep Aid Products
  • Weight Loss/Diet Products
  • Others

By Formulation Type:

  • Tablets
  • Liquids
  • Ointments
  • Spray                             

By Distribution Channels: 

  • Pharmacies
  • Supermarkets/Hypermarkets
  • Convenience store
  • Others (online drug stores)                             

By Country: 

  • The United States
  • Canada
  • Rest of North America

Regionally, the United States is the biggest market for OTC drugs in the North American region. It accounts for more than 80% of the market in this region. Although the market share is high in the North American area, it is forecasted to witness a market saturation due to the domination of generic medicine prescription.

The North American OTC drugs market is predicted to hold a significant share in the global market during the forecast period. The main factors driving the market growth are people's worsening food and health habits that make people's immune systems weaker and susceptible to infections like the flu. Also, the shifting focus of pharmaceutical companies from prescription drugs to OTC drugs and the increased research and development activities in recent years. Moreover, favorable government policies for approval of drugs and increasing healthcare spending are further fuelling the market growth. 

The U.S. over-the-counter drugs market is expected to retain most of the market share in the North American market during the forecast period. However, it is expected to grow at a moderate pace in the coming years due to the country's increased research and development activities. Also, the increasing problem of obesity and the weakened immune system is a potential reason for the market growth.

On the other hand, The Canadian over-the-counter drugs market is also expected to record an exponential growth rate during the forecast period. The market growth is fuelled by the shifting focus of pharmaceutical companies from prescription drugs to OTC drugs, and research and developments activities are the reason for the increase. In addition, if the challenge of illegal use of drugs is tackled, the market will grow at a higher rate in the coming years.

KEY MARKET PLAYERS:

Companies playing a dominant role in North America Over Counter Drugs Market profiled in this report are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi, and Takeda. The maximum market share is possessed by GlaxoSmithKline, Johnson and Johnson, Novartis, and Sanofi.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments               

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Product Type                             

                                5.1.1 Analgesics

                                5.1.2 Cough, Cold and Flu Products         

                                5.1.3 Vitamins and Minerals       

                                5.1.4 Dermatological Products   

                                5.1.5 Gastrointestinal Products 

                                5.1.6 Ophthalmic Products          

                                5.1.7 Sleep Aid Products              

                                5.1.8 Weight Loss/Diet Products               

                                5.1.9 Others      

                5.2 By Formulation Type                              

                                5.2.1 Tablets      

                                5.2.2 Liquids      

                                5.2.3 Ointments               

                                5.2.4 Sprays       

                5.3 Distribution Channels                             

                                5.3.1 Pharmacies             

                                5.3.2 Supermarkets/Hypermarkets         

                                5.3.3 Convenience stores            

                                5.3.4 Others (Online Drug Stores)            

6. Geographical Analysis                                              

                6.1 Introduction                               

                6.2 United States                            

                6.3 Canada                         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 GlaxoSmithKline                       

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Strategic Evaluation and Operations            

                                8.1.4 Financial analysis  

                                8.1.5 Legal issues             

                                8.1.6 Recent Developments       

                                8.1.7 SWOT analysis       

                                8.1.8 Analyst View          

                8.2 Johnson and Johnson                            

                8.3 Novartis                       

                8.4 Bayer                            

                8.5 Pfizer                            

                8.6 Boehringer Ingelheim                            

                8.7 Sanofi                           

                8.8 Takeda                         

                8.9 PGT Healthcare                         

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Expert Opinions                                        

                10.1 Market Outlook                     

                10.2 Investment Opportunities                 

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. North America Over the Counter (OTC) Drugs Market, By Region, From 2021 to 2026 (USD Billion)
  2. North America Over the Counter (OTC) Drugs Market, By Product Type, From 2021 to 2026 (USD Billion)
  3. North America Analgesics Market, By Region, From 2021 to 2026 (USD Billion)
  4. North America Cough Market, By Region, From 2021 to 2026 (USD Billion)
  5. North America Cold and Flu Products Market, By Region, From 2021 to 2026 (USD Billion)
  6. North America Dermatological Products Market, By Region, From 2021 to 2026 (USD Billion)
  7. North America Gastrointestinal Products Market, By Region, From 2021 to 2026 (USD Billion)
  8. North America Vitamins Market, By Region, From 2021 to 2026 (USD Billion)
  9. North America Minerals Market, By Region, From 2021 to 2026 (USD Billion)
  10. North America Weight Loss Products Market, By Region, From 2021 to 2026 (USD Billion)
  11. North America Sleep Aids Market, By Region, From 2021 to 2026 (USD Billion)
  12. North America Ophthalmic Products Market, By Region, From 2021 to 2026 (USD Billion)
  13. North America Smoking Cession Aids Market, By Region, From 2021 to 2026 (USD Billion)
  14. North America Other Products Market, By Region, From 2021 to 2026 (USD Billion)
  15. United States Over the Counter (OTC) Drugs Market, By Product Type, From 2021 to 2026 (USD Billion)
  16. Canada Over the Counter (OTC) Drugs Market, By Product Type, From 2021 to 2026 (USD Billion)

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