Pune, July 27, 2022 (GLOBE NEWSWIRE) -- The Global Over-the-Counter Drugs Market is expected to clock ~US$ 410.48 billion by 2030 owing to the growing incidence of seasonal infections and new OTC drug launched by companies in the market.

The growing focus of the population on staying healthy and increasing adoption of OTC drugs to treat common illnesses are some of the key factors, propelling the growth of the OTC drugs market. Many pharmaceutical and nutraceutical companies are focused on developing and launching new drugs.

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Key takeaways from the Over-The-Counter Drugs Market Report

The global over-the-counter drugs market has been analyzed from two perspectives: product, distribution channels, and region.

To read more about the latest highlights related to OTC Drug, get a snapshot of the key highlights entailed in the global over-the-counter drugs market

Excerpts from ‘By Product Segmentation

Based on product types, the global over the over-the-counter drugs market has been segmented into:

Weight loss and VMS OTC drugs make up a large portion of the market, nearly one-fourth of the market belongs to this segment. Unlike other, more intense conditions, VMS and weight loss are not particularly critical. OTC products for these conditions are more precautionary than therapeutic or curative. As a result, the number of customers is relatively higher than for other indicators. Large customer bases generate high demand, which leads to high revenue generation. Because of the growing health problem of the population in developed countries, VMS products are extremely popular. In addition, as a result of the coronavirus disease (COVID-19) outbreak, people are becoming more aware of the importance of self-care. This, in turn, increased sales of nutritional supplements and boosted the market growth. Analgesics, on the other hand, are expected to grow rapidly during the forecast period. This is due to an aging population driving up demand for pain relievers, as well as the introduction of new over-the-counter (OTC) drugs and pain relievers. The desire to improve healthcare outcomes drives the global demand for analgesics. This includes pain management, which, in order to be effective, requires a multidisciplinary approach.

Excerpts from ‘By Region Segmentation’

Regionally, the global over-the-counter drugs market has been segmented into

Over-the-counter drugs market is highly competitive and comprises several major players. North America holds the leading position in the global over-the-counter drugs market, owing to its well-established healthcare structure, followed by Europe, owing to growing patient awareness involving the consumption of OTC drugs, and managing self-medication practices. Europe would remain in second place, owing to the region's growing awareness of the availability of over-the-counter drugs. Asia Pacific is expected to grow rapidly because of the increasing presence of numerous reputed manufacturers. Rising awareness among the population regarding the use of OTC drugs to treat minor health issues such as cold, cough, and headache is driving the growth of OTC drugs market in this region. Moreover, the increasing prevalence of obesity, the growing aging population, and incessant new product launches by the players in the region are boosting the market growth.

Report Scope & Segmentation:

Report CoverageDetails
Market Size in 2021USD ~ 169.1 billion
Revenue forecast in 2030USD ~ 410.48 billion
Growth RateCAGR of ~ 8.2% from 2022 to 2030
Base year for estimation2021
Forecast period2022-2030
Segments coveredProducts, Distribution Channel
Regional scopeNorth America, Europe, Asia Pacific, and the Rest of the World (ROW)

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