Over the Counter (OTC) Drugs Market Report and Forecast 2025-2034

The global over the counter drugs market size reached a value of USD 179.06 Billion in 2024. The market is likely to grow at an annual rate of 6.90% in the forecast period of 2025-2034 to reach a market value of USD 348.96 Billion by 2034.

Global Over the Counter Drugs (OTC) Market Overview

Over the counter (OTC) drugs can be sold directly to the patient without the need for any prescription. There are different categories of OTC drugs including nutritional drinks, healthcare products, healthcare devices, vitamins and supplements, immunity boosters, protein supplements, and several other products.

With an increasing burden of chronic diseases, there is a surge in the demand for the over-the-counter drugs. This has led to the increased production of such medications, attributing to over the counter (OTC) drugs market growth. In developing countries, people tend to adopt the concept of self-medication due to lack of proper resources and underdeveloped healthcare infrastructure. Such factors also influence the market growth significantly. To meet the increasing demand and popularity of OTC drugs, key market players and major pharmaceutical companies are also shifting their focus from prescription to over the counter drugs.

Rising Approvals to Boost Over the Counter (OTC) Drugs Market Share

In July 2023, the United States FDA approved the first ever over the counter oral contraceptive pill, that will be made available in both online as well as offline stores in early 2024. Opill, the progestin only pill is expected to minimize the scope of unwanted pregnancy by offering a prompt and effective alternative to the consumers. The rising initiatives to expand the accessibility of drugs for multiple indications is projected to boost the market value of OTC drugs in upcoming years.

Surge in Research Activities to Meet the Rising Over the Counter (OTC) Drugs Market Demand

In January 2024, Petros Pharmaceuticals announced that avanafil (Stendra), an oral phosphodiesterase 5 inhibitor formulated for treating erectile dysfunction, showed positive results in the phase 2 equivalent self-selection study (SSS) for over-the-counter (OTC) use.  The open label study was particularly designed to allow patients select a certain product present on the drug facts label (DFL). Around 78% of the consumers were able to self-select and use avanafil with the help of DFL. This demonstrates that rising prevalence for over the counter drugs to offer convenient and affordable solutions to the consumers.

Global Over the Counter (OTC) Drugs Market Segmentations

“Over the Counter (OTC) Drugs Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Analgesics
• Cold, Cough and Flu Products
• Gastrointestinal Products
• Ophthalmic Products
• Dermatology Products
• Others

Market Breakup by Dosage Form

• Tablet and Capsules
• Liquids
• Creams and Ointments
• Powders
• Others

Market Breakup by Route of Administration

• Oral
• Injectable
• Topicals
• Others

Market Breakup by Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Over the Counter (OTC) Drugs Market Regional Analysis

Geographically, North America is anticipated to dominate the regional markets. The market growth can be attributed to the presence of strategic key players, rising incidence of product launches, and a preference for over-the-counter drugs. The market is also propelled by the increasing incidence of FDA approvals for critical medical conditions.

Europe is the fastest-growing region in the over-the-counter drugs market, owing to increasing research and development activities, and rising awareness of over-the-counter drugs amongst the general population. In addition, collaborations between public and private entities to bring economical, convenient, and advanced solutions to the consumers is expected to drive over the counter (OTC) drugs market growth in the region.

The rising infrastructure development, leading to launch of new drug stores and pharmacies are anticipated to enhance the Asia Pacific market share as well.

Global Over the Counter (OTC) Drugs Market: Competitor Landscape

Perrigo Company plc

In March 2023, Perrigo Company plc, a leading provider of consumer self-care products received the United States FDA approval for the combination of Acetaminophen and Ibuprofen tablets. Developed as the OTC version of Advil Dual Action Tablets 250 mg/125 mg, the drug can be found useful for treating multiple pain relief symptoms. The market has been witnessing a surge in approvals from the regulatory authorities which is expected to boost the over the counter (OTC) drugs market share in the forecast period.

Other key players in the market are Johnson & Johnson, GlaxoSmithKline plc, Bayer AG, Sanofi S.A., Pfizer Inc., Novartis International AG, Reckitt Benckiser Group plc., Takeda Pharmaceutical Company Limited, Boehringer Ingelheim, Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Procter & Gamble Co., Prestige Consumer Healthcare Inc., Perrigo Company plc., Taisho Pharmaceutical Holdings Co., Ltd., Mylan N.V., Church & Dwight Co., Inc., Alvogen, Cipla Limited
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