The global OTC drugs market size was US$ 169.1 billion in 2021. The global OTC drugs market is forecast to grow to US$ 331.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022-2030.

Over-the-counter or OTC drugs or non-prescription drugs are drugs that can be acquired directly by a consumer without the need for any prescription.

Factors Influencing the Market

The growing prevalence of diseases and rising adoption rate of over-the-counter drugs is forecast to fuel the growth of the OTC drugs market. The demand for drugs for minor diseases like headaches and fever is increasing. As a result, it will benefit the overall OTC drugs market.

The growing R&D expenditure and increasing funding from governments all across the world will contribute to the growth of the market. In addition, OTC drugs are cost-effective and easily available at any drug store. Thus, the easy availability & affordability of OTC drugs will propel the growth of the OTC drugs market.

The presence of a diverse range of efficient drugs will drive the OTC drugs market forward. In addition, growing technological advancements related to OTC drugs applications will boost the market growth.

However, a lack of knowledge among people on drugs may restrict the growth of the OTC drugs market.

COVID-19 Impact Analysis

COVID-19 pandemic emerged as an advantageous situation for the global OTC drugs market. Due to the pandemic, maximum population suffered from fever, headache, body ache, and other conditions. Thus, the demand for efficient drugs increased in order to tackle the situation.

The health and pharmaceutical sector have undoubtedly witnessed an unexpected burden. It shifted the focus of citizens and governments on personal health. Government bodies began investing in the healthcare and pharmaceutical segment in order to cater to the demands of the public. As a result, the global OTC drugs market witnessed significant growth due to the pandemic.

Regional Analysis

North America is forecast to hold the highest market share in the global OTC drugs market. The growth of the market is attributed to the high healthcare expenditure and favorable initiatives by the governments in the region. In addition, North America is home to some of the prominent industry players like Merck & Co, Inc., Johnson & Johnson, etc. As a result, it will contribute to the growth of the OTc drugs market.

The Asia-Pacific OTC drugs market is forecast to register a significant growth rate due to the growing number of pharmacies. In addition, the easy affordability of over-the-counter drugs and booming healthcare infrastructure will benefit the overall market.

Competitors in the Market

Bayer AG
Novartis International AG
Merck & Co, Inc.
GlaxoSmithKline Plc
Johnson & Johnson
AstraZeneca plc
Sanofi S.A.
Pfizer Inc.
Teva Pharmaceuticals Industries Ltd.
Sun Pharmaceutical Industries Ltd.
Other Prominent Players
Market Segmentation

The global OTC drugs market segmentation focuses on Product, Formulation, Distribution Channel, and Region.

Based on Product Type

Analgesics
Dermatology Products
Cough, Cold & Flu Products
Vitamins & Minerals
Others
Based on Formulation Type

Tablets
Liquids
Ointments
Sprays
Based on Distribution Channels

Pharmacies
Supermarkets/Hypermarkets
Convenience Stores
Others
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America