Published Report - OTC Drug and Dietary Supplement Market 2027 by Product, Type, Form, Distribution Channel and Geography

The OTC Drug and Dietary Supplement Market was valued at US$ 2,93,255.40 million in 2019and is projected to reach US$ 4,92,102.49 million by 2027; it is expected to grow at a CAGR of 6.8% from 2020 to 2027.

Over the counter (OTC) drugs are available for the public for their general use. These drugs do not require a prescription from a physician. OTC medicines are available for various medical  conditions such as coughs and colds, diarrhea, heartburn, constipation, acne, pain, and others. On the other hand, dietary supplements are available over the counter for fitness purposes. However, buying a dietary supplement with medicinal ingredients requires a prescription from a physicianwhen a person is critically ill or requires treatment. These OTC drugs and nutritional supplements have two forms: branded or generic.

The scope of the OTC drug and dietary supplements market includes product, type, form, distribution channel, and region. The market for OTC drug and dietary supplement is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the OTC drug and dietary supplements market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

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Published Report - OTC Drug and Dietary Supplement Market: Strategic Insights

Published Report - OTC Drug and Dietary Supplement Market

• Market Size 2019
  US$ 293.26 Billion
• Market Size 2027
  US$ 492.1 Billion

Market Dynamics

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Cough and Cold Products
• Vitamins and Dietary Supplements
• Analgesics
• Gastrointestinal Products
• Sleep Aids
• Oral Care Products
• Ophthalmic Products
• Antacids
• Feminine Care

Type

• Branded and Generic

Form

• Tablets
• Capsules
• Powders
• Ointments
• Liquid

Distribution Channel

• Hospital and Retail Pharmacies
• Retail Stores
• Online Channels

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Market Insights

Growing Awareness Regarding General Health Issues

People nowadays are well aware of general health issues such as cold, cough, allergies, fever, pain, acidity, diarrhea, and skin-related conditions. Major population is focused on having healthy lifestyle by avoiding the consumption of junk food that leads to a rise in lifestyle-related diseases such as diabetes, obesity, and cardiovascular diseases. Growing preference toward maintaining the healthy lifestyle also leads to the consumption of weight-loss products and dietary supplements, such as vitamins, minerals, and supplements. Increase in exposure to the internet has led to greater access to dietary supplements and over the counter (OTC) drugs to consumers, at affordable prices.

The common health issues can be seasonal or they might occur due to minor changes in routine habits; hence, people prefer taking OTC medicines to treat them instead of visiting a doctor. In many cases, this saves time and money, and provides immediate relief. Several governments have initiated various programs toward health awareness, due to which there has been a quick and smooth adoption of everyday technology for healthcare and wellness, contributing to the industry's overall growth. For instance, in India, the government is taking positive steps toward formalizing the use of OTC medicines. Prescription monitoring programs (PMPs) collect, monitor, and analyze electronically transmitted prescribing and dispensing data submitted by pharmacies and dispensing practitioners. This data is then used to prevent OTC drug abuse. Thus, promoting the sale of OTC drugs.

Advancements in the pharmaceutical industry, such as predictive modeling, mobile apps, robotics, and diagnostics, are opening new avenues for pharmacists, which can improve their ability to dispense medication, minimize errors, and monitor patient adherence. Rightly dispensed medicinal product will not result in any type of drug abuse, which further builds confidence of the repurchase of OTC products and dietary supplements. Thus, the awareness of general health concerns and advancements in the pharmaceutical industry are driving market growth.

OTC Drug and Dietary Supplement Product-Based Insights                            

Based on product, the OTC drug and dietary supplement market is segmented into cough and cold products, vitamins and dietary supplements, analgesics, gastrointestinal products, sleep aids, oral care products, ophthalmic products, antacids, feminine care, and others.

In 2019, the analgesicssegment accounted for the highest share of the market. Growth of this segment is attributed to the growing awareness regarding general health issuesand growing preference for non-prescription drugs over prescription drugs across the world. However, vitamins and dietary supplementssegmentis likely to register the highest CAGR in the global OTC drug and dietary supplementsmarket during the forecast period.

Type-BasedInsights

Based on type, the OTC drug and dietary supplements market is segmented into branded and generic. The genericsegment held a larger share of the market in 2019; whereas, the samesegment is estimated to register a higher CAGR of 7.1% in the market during the forecast period.

Form -Based Insights

Based on form, the OTC drug and dietary supplements market is segmented into tablets, capsules, powders, ointments, liquid, and others. The tabletssegment held the largest share of the market in 2019 and is estimated to register the highest CAGR of 7.5% in the market during the forecast period.

Basedon distribution channel, the OTC drug and dietary supplements market is segmented into hospital and retail pharmacies, retail stores, online channels, and others. The hospital and retail pharmaciessegment held the largest share of the market in 2019;however, the online channelssegment is estimated to register the highest CAGR of 7.5% in the market during the forecast period.                     

Product launches and expansion strategies are commonly adopted by companies to expand their footprint and product portfolio worldwideas well as tomeet the growing demand.

The market players operating in the OTC drug and dietary supplement market adopted the strategy of product innovation to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally.

OTC Drug and Dietary Supplement Market Report Scope

Published Report - OTC Drug and Dietary Supplement Market Market Report Scope

By Product

• Cough and Cold Products
• Vitamins and Dietary Supplements
• Analgesics
• Gastrointestinal Products
• Sleep Aids
• Oral Care Products
• Ophthalmic Products
• Antacids
• Feminine Care
• Others

By Type                                        

• Branded
• Generic

By Form

• Tablets
• Capsules
• Powders
• Ointments
• Liquid
• Others

By Distribution Channel

• Hospital and Retail Pharmacies
• Retail Stores
• Online Channels
• Others

By Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain

• Asia Pacific(APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE

• South America (SAM)

  • Brazil
  • Argentina

Company Profiles

• GlaxoSmithKline plc.
• Sanofi
• Johnson and Johnson Services, Inc.
• Abbott
• AbbVie Inc.
• Bausch Health Companies Inc.
• Bayer AG
• Procter & Gamble
• Novartis AG
• Reckitt Benckiser Group Plc.