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Pulished Date August, 2019
ID: 461
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Global Over The Counter Drugs Market Analysis - By Product Type (Analgesics, Cough, Cold And Flu Products, Dermatological Products, Gastrointestinal Products, Vitamins, Minerals, Weight Loss Products, Sleep Aids, Ophthalmic Products, Smoking Cession Aids And Other Products) and By Region - Industry Analysis, Size, Share, Growth, Trends & Forecast | 2019 – 2024

Pulished: August, 2019
ID: 461
Pages: 175

Over the Counter Drugs Market Size & Growth (2019 – 2024)

The size of the Global Over the Counter (OTC) drugs market has been estimated at USD 175.47 Billion in 2019 and is projected to reach USD 264.46 Billion by 2024, at a CAGR of 8.55% during the forecast period from 2019 to 2024.

Over the counter (OTC) drugs are effective and safe drugs, which can be bought at the pharmacies and local stores, over the counter, without a doctor’s prescription. These drugs are seldom used for common ailments. They are dispensed by the pharmacists, after the verification of customer’s age and identification. Acetaminophen, aspirin, and ibuprofen are the most common OTC drugs. OTC drugs market is booming with the allowance of previously high-priced prescribed drugs, shifting to the OTC category.

The public started showing the pro-active approach towards the ailments. Along with that, they are also resorting to lower-priced alternatives due to rising costs in healthcare. The cultural shift in the public towards self-reliance leads to gaining major acquisitions. These are some of the drivers that shoot up Over the Counter Drugs Market growth.

The increasing adoption rate of over the counter (OTC) drugs in developing regions is leading to high penetration of the market and is boosting the growth of the global over the counter drugs market. Affordability is another major factor fueling up the growth of the over the counter drugs market in the developing nations. The influx of innovative drugs into the market owing to technological advancements is fueling up the growth rate of the over the counter drugs business. Also, increasing awareness among the people in China, Brazil, India and other developing countries regarding the applications of OTC drugs is boosting the growth of this market further.

Increasing adoption of OTC drugs in developing countries owing availability and affordability is offering lucrative opportunities for the key players in the market. An increasing number of pharmaceutical companies, drug stores, supermarkets, and retail outlets, hospital pharmacies and e-commerce in developed and developing countries are offering a number of opportunities for the growth of the global over the counter drugs market. Increasing expenditure of healthcare and boosting economies of countries like China, India, Brazil, the Middle East, and other developing countries due to continually growing population and rising disposable income in these countries are expected to create profitable possibilities for the market players across the world during the forecast period. Increasing focus of public and private organizations on research and development activities from the private and public organizations for developing drug delivery systems, effective drugs which can be accessible at the nearest drug stores, medical shops, and online shopping, is likely to expand growth potential for the over the counter drugs market during the outlook period.

Drug abuse and possibilities of drug addiction is the major challenge and is pulling down the growth of over the counter drugs market. Wrong medication due to incorrect self-diagnosis and misdiagnosis may lead to severe complications and is another limiting factor for the growth of global over the counter drugs market. Using traditional home remedies is limiting the growth of the market across the world due to the emergence of blogs and websites which are sharing knowledge about the benefits associated with natural and cost-cutting remedies. Lack of awareness regarding the active drugs in underdeveloped and rural regions is also restraining the growth of the market. 

Key market happenings in this market in the recent past:

  • In 2018, Pfizer and GSK collaborated to conduct clinical trials of their extensive product line, which are under research and developmental stage. 
  • In Jan 2016, Bayer Company opened one of its most astronomical OTC drug manufacturing units in the Asia-Pacific region. The plant is manufacturing OTC medicines along with traditional Chinese herbs. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2018 – 2024

Base Year

2018

Forecast Period

2019 - 2024

Segments Covered

By Product Type, Formulation Type, Distribution Channels and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Johnson and Johnson, Novartis, Bayer, Pfizer, Boehringer Ingelheim, Sanofi, Takeda and PGT Healthcare

 

This research report on the Global over the Counter Drugs Market segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.

Over the Counter Drugs Market Analysis – By Product Type:

On the basis of product type, More than half of the market share belongs to categories like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories.

Analgesics & pain relives market segments are contributing the largest share of revenues for the global OTC drugs market and is presumed to continue the trend during the projection period. Weight loss products and smoking cession aids are other significant segments which are anticipated to generate during the estimated period owing to increasing awareness among the people regarding the healthy lifestyle.

Over the Counter Drugs Market Analysis – By Formulation Type:

  • Tablets      
  • Liquids      
  • Ointments               
  • Sprays       

Over the Counter Drugs Market Analysis – By Distribution Channels:

  • Pharmacies
  • Supermarkets/Hypermarkets
  • Convenience stores
  • Others (Online Drug Stores)

Regional Analysis:

North American and Europe are the top contributors to this market, followed by Asia-Pacific. Europe is said to attain a commendable profit due to the very high increase in adoption rates by the public. Asia-Pacific regions like China, Japan and India are the fastest-growing markets, as the growth rate is shooting up exponentially. Latin American countries are just tailing behinds the top Asian contributors, with its newly emerging markets in Brazil and Argentina. However, North America is forecasted to witness a decline in the market due to the domination of generic medicine prescriptions. Some of the nations are yet to standardize the process of reviewing the nonprescription attainment status.

Top companies in the market

GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, GSK Boehringer Ingelheim, Sanofi, Takeda, and PGT Healthcare are the top companies that contribute to OTC drugs market. The maximum market share is possessed by GlaxoSmithKline, Johnson and Johnson, Novartis and Sanofi. The extension of OTC service for drugs dealing with chronic diseases like diabetes and hypertension is a new trend to be noticed.

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 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.2 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.3 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 South Korea           

                                6.3.6 Australia   

                6.4 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Mexico     

                                6.4.4 Argentina

                                6.4.5 Rest of Latin America          

                6.5 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

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                              

  • Global, 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. Global Over the Counter (OTC) Drugs Market By Region, From 2019-2024 (USD Million)
  2. Global Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  3. Global Analgesics Market By Region, From 2019-2024 (USD Million)
  4. Global Cough Market By Region, From 2019-2024 (USD Million)
  5. Global Cold and Flu Products Market By Region, From 2019-2024 (USD Million)
  6. Global Dermatological Products Market By Region, From 2019-2024 (USD Million)
  7. Global Gastrointestinal Products Market By Region, From 2019-2024 (USD Million)
  8. Global Vitamins Market By Region, From 2019-2024 (USD Million)
  9. Global Minerals Market By Region, From 2019-2024 (USD Million)
  10. Global Weight Loss Products Market By Region, From 2019-2024 (USD Million)
  11. Global Sleep Aids Market By Region, From 2019-2024 (USD Million)
  12. Global Ophthalmic Products Market By Region, From 2019-2024 (USD Million)
  13. Global Smoking Cession Aids Market By Region, From 2019-2024 (USD Million)
  14. Global Other Products Market By Region, From 2019-2024 (USD Million)
  15. North America Over the Counter (OTC) Drugs Market By Region, From 2019-2024 (USD Million)
  16. North America Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  17. North America Analgesics Market By Region, From 2019-2024 (USD Million)
  18. North America Cough Market By Region, From 2019-2024 (USD Million)
  19. North America Cold and Flu Products Market By Region, From 2019-2024 (USD Million)
  20. North America Dermatological Products Market By Region, From 2019-2024 (USD Million)
  21. North America Gastrointestinal Products Market By Region, From 2019-2024 (USD Million)
  22. North America Vitamins Market By Region, From 2019-2024 (USD Million)
  23. North America Minerals Market By Region, From 2019-2024 (USD Million)
  24. North America Weight Loss Products Market By Region, From 2019-2024 (USD Million)
  25. North America Sleep Aids Market By Region, From 2019-2024 (USD Million)
  26. North America Ophthalmic Products Market By Region, From 2019-2024 (USD Million)
  27. North America Smoking Cession Aids Market By Region, From 2019-2024 (USD Million)
  28. North America Other Products Market By Region, From 2019-2024 (USD Million)
  29. United States Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  30. Canada Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  31. Europe Over the Counter (OTC) Drugs Market By Region, From 2019-2024 (USD Million)
  32. Europe Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  33. Europe Analgesics Market By Region, From 2019-2024 (USD Million)
  34. Europe Cough Market By Region, From 2019-2024 (USD Million)
  35. Europe Cold and Flu Products Market By Region, From 2019-2024 (USD Million)
  36. Europe Dermatological Products Market By Region, From 2019-2024 (USD Million)
  37. Europe Gastrointestinal Products Market By Region, From 2019-2024 (USD Million)
  38. Europe Vitamins Market By Region, From 2019-2024 (USD Million)
  39. Europe Minerals Market By Region, From 2019-2024 (USD Million)
  40. Europe Weight Loss Products Market By Region, From 2019-2024 (USD Million)
  41. Europe Sleep Aids Market By Region, From 2019-2024 (USD Million)
  42. Europe Ophthalmic Products Market By Region, From 2019-2024 (USD Million)
  43. Europe Smoking Cession Aids Market By Region, From 2019-2024 (USD Million)
  44. Europe Other Products Market By Region, From 2019-2024 (USD Million)
  45. U.K Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  46. Spain Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  47. Germany Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  48. Italy Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  49. France Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  50. Asia-Pacific Over the Counter (OTC) Drugs Market By Region, From 2019-2024 (USD Million)
  51. Asia-Pacific Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  52. Asia-Pacific Analgesics Market By Region, From 2019-2024 (USD Million)
  53. Asia-Pacific Cough Market By Region, From 2019-2024 (USD Million)
  54. Asia-Pacific Cold and Flu Products Market By Region, From 2019-2024 (USD Million)
  55. Asia-Pacific Dermatological Products Market By Region, From 2019-2024 (USD Million)
  56. Asia-Pacific Gastrointestinal Products Market By Region, From 2019-2024 (USD Million)
  57. Asia-Pacific Vitamins Market By Region, From 2019-2024 (USD Million)
  58. Asia-Pacific Minerals Market By Region, From 2019-2024 (USD Million)
  59. Asia-Pacific Weight Loss Products Market By Region, From 2019-2024 (USD Million)
  60. Asia-Pacific Sleep Aids Market By Region, From 2019-2024 (USD Million)
  61. Asia-Pacific Ophthalmic Products Market By Region, From 2019-2024 (USD Million)
  62. Asia-Pacific Smoking Cession Aids Market By Region, From 2019-2024 (USD Million)
  63. Asia-Pacific Other Products Market By Region, From 2019-2024 (USD Million)
  64. China Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  65. India Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  66. Japan Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  67. South Korea Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  68. Australia Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  69. Latin America Over the Counter (OTC) Drugs Market By Region, From 2019-2024 (USD Million)
  70. Latin America Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  71. Latin America Analgesics Market By Region, From 2019-2024 (USD Million)
  72. Latin America Cough Market By Region, From 2019-2024 (USD Million)
  73. Latin America Cold and Flu Products Market By Region, From 2019-2024 (USD Million)
  74. Latin America Dermatological Products Market By Region, From 2019-2024 (USD Million)
  75. Latin America Gastrointestinal Products Market By Region, From 2019-2024 (USD Million)
  76. Latin America Vitamins Market By Region, From 2019-2024 (USD Million)
  77. Latin America Minerals Market By Region, From 2019-2024 (USD Million)
  78. Latin America Weight Loss Products Market By Region, From 2019-2024 (USD Million)
  79. Latin America Sleep Aids Market By Region, From 2019-2024 (USD Million)
  80. Latin America Ophthalmic Products Market By Region, From 2019-2024 (USD Million)
  81. Latin America Smoking Cession Aids Market By Region, From 2019-2024 (USD Million)
  82. Latin America Other Products Market By Region, From 2019-2024 (USD Million)
  83. Brazil Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  84. Argentina Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  85. Mexico Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  86. Middle East & Africa Over the Counter (OTC) Drugs Market By Region, From 2019-2024 (USD Million)
  87. Middle East & Africa Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  88. Middle East & Africa Analgesics Market By Region, From 2019-2024 (USD Million)
  89. Middle East & Africa Cough Market By Region, From 2019-2024 (USD Million)
  90. Middle East & Africa Cold and Flu Products Market By Region, From 2019-2024 (USD Million)
  91. Middle East & Africa Dermatological Products Market By Region, From 2019-2024 (USD Million)
  92. Middle East & Africa Gastrointestinal Products Market By Region, From 2019-2024 (USD Million)
  93. Middle East & Africa Vitamins Market By Region, From 2019-2024 (USD Million)
  94. Middle East & Africa Minerals Market By Region, From 2019-2024 (USD Million)
  95. Middle East & Africa Weight Loss Products Market By Region, From 2019-2024 (USD Million)
  96. Middle East & Africa Sleep Aids Market By Region, From 2019-2024 (USD Million)
  97. Middle East & Africa Ophthalmic Products Market By Region, From 2019-2024 (USD Million)
  98. Middle East & Africa Smoking Cession Aids Market By Region, From 2019-2024 (USD Million)
  99. Middle East & Africa Other Products Market By Region, From 2019-2024 (USD Million)
  100. Middle East Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)
  101. Africa Over the Counter (OTC) Drugs Market By Product Type, From 2019-2024 (USD Million)

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