The global OTC drug market is anticipated to grow at a CAGR of around 7% during the forecast period. Over the counter or OTC drugs can be bought without a prescription from any pharmacy or even some grocery store and supermarkets. One of the most popular categories of OTC drugs is pain management OTC drugs that are intended to reduce fever and temporarily relieve minor aches and pains. These OTC pain drugs are easily available and are commonly used in day to day life for curing small pain or fever. The frequent use of OTC pain drugs is driving the OTC drug industry.
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Acetaminophen is the most common active drug ingredient across the globe and is found in more than 600 OTC and prescription medications including pain relievers, fever reducers, sleep aids, and many coughs cold and allergy medications. Many medicines contain acetaminophen as an active ingredient, for instance, prescription (Rx) and OTC medicines such as Tylenol. The wide availability of acetaminophen as OTC is anticipated to accelerate the OTC drug market growth during the forecast period.
Similarly, NSAID is another category of OTC pain drug that is commonly used across the globe. NSAIDs can be found in more than 900 OTC and prescription medications. The most well-known NSAID OTC are aspirin ibuprofen and naproxen sodium. Several OTC pain medications available in the market also combine both acetaminophen and NSAID. Having so many options to choose from OTC drugs is anticipated to accelerate the OTC drug market during the forecast period.
Though OTC drugs are generally safe, however, they have several side effects if not taken properly. Additionally, taking more than directed dosage of OTC drugs can lead to several life-threatening conditions such as liver damage, brain damage, stroke, and others. Along with this, OTC drugs are also not advised to the person above 60, pregnant, or breastfeeding women without consulting physicians. This presents a challenge to the growth of the OTC market during the forecast period.
Global Over the counter (OTC) Drugs market- Segmentation
By Product Type
By Distribution Channel
Global Over the Counter (OTC) Drugs Market- Segment by Region
North America
Europe
Asia-Pacific
Rest of the World