Global Over The Counter (OTC) Analgesics Market Analysis

Global Over the Counter (OTC) Analgesics Market Executive Summary

OTC, or over-the-counter, medications are pharmaceuticals that are generally safe to purchase without a prescription from a healthcare provider. These items can be purchased lawfully without a prescription in hospital pharmacies, medical supply stores, and occasionally even grocery stores. The typical cold, body ache, allergy and flu, heartburn, acne, and other fundamental health issues are treated with OTC medications.

The rise in self-medication during the predicted period is one of the major drivers of market expansion. Pharmacoepidemiology and Drug Safety estimates that a greater number of working professionals rely on over-the-counter medicine, with females being more likely to do so.

Market Size and Key Findings

The Global Over the Counter (OTC) Analgesics Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.

Global Over the Counter (OTC) Analgesics Market Size (In USD Bn)

(2021-2030F)

Market Dynamics

Market Growth Drivers Analysis

The rise in self-medication during the predicted period is one of the major drivers of market expansion. The market is expanding as a result of more people moving from prescription to over-the-counter medications due to lower costs and an increase in OTC medicine approvals from regulatory bodies.

For instance, Sanofi declared in February 2017 that Xyzal Allergy 24HR, an over-the-counter medication for seasonal allergies, had received FDA approval. The industry is expanding due to the accessibility and affordability of OTC products as well. For instance, it was estimated in the National Center for Biotechnology Information (NCBI) publication that each year, over-the-counter medications save the United States over USD 100.0 billion. During the anticipated term, the aforementioned elements would accelerate market expansion.

Competitive Landscape

Key Players

The prominent players operating in this market include Johnson and Johnson Services Inc (USA), Bayer AG (Germany), Novartis AG (Switzerland), Sanofi (France), Pfizer (USA), GlaxoSmithKline Plc (UK), Bohringer Ingelheim International GmbH (Germany), Reckitt Benckiser Group Plc (UK), Takeda Pharmaceuticals (Tokyo), etc.