Global Over the Counter (OTC) Drug and Dietary Supplement Market Size, Trends, and Growth Opportunity, By Product (Cough and Cold Products, Vitamins, and Dietary Supplements, Analgesics, Gastrointestinal Products, Sleep Aids, Oral Care Products, Ophthalmic Products, Antacids, Feminine Care, and Others), By Type (Branded and Generic), By Form (Tablets, Capsules, Powders, Ointments, Liquid, and Others), By Distribution Channel (Hospital and Retail Pharmacies, Retail Stores, Online Channels, and Others), By Region and Forecast to 2030.
Global Over the Counter (OTC) Drug and Dietary Supplement Market
The Global Over Counter (OTC) Drug and Dietary Supplement Market was valued at USD 280.75 million in 2022 and is expected to reach 612.9 million by 2030, at a CAGR 10.25% during the forecast period 2023- 2030.
OTC medications are also referred to as non-prescription meds because they can be obtained without a prescription. OTC medications are safe as long as they are taken by the directions given by medical professionals. However, dietary supplements include components that are utilized to complete the body's nutrient needs and maintain the proper balance of nutrients. They also offer non-nutrient compounds that are advantageous to the body biologically.
Market Drivers
One of the main factors influencing the rise of the market for over-the-counter medicines and dietary supplements is the availability of a variety of payment alternatives. The prevalence of e-commerce in the pharmaceutical industry has grown quickly, especially among urban consumers thanks to the availability of various payment alternatives.
Through creative promotions and a variety of payment choices, suppliers are enticing clients to shop for over-the-counter medications and nutritional supplements on e-commerce websites. Online stores like ukmeds.co.uk and chemistdirect.co.uk, for instance, allow customers to pay with credit cards, debit cards, PayPal, and phone payments. Customers will be encouraged to buy over-the-counter medications and dietary supplements online as a result.
Market Restraints
One of the challenges impeding the growth of the OTC medications & dietary supplements industry is the consumption of inappropriate medication as a result of incorrect self-diagnosis. OTC medications and nutritional supplements are typically unprescribed medications. People with less drug expertise may self-diagnose incorrectly and take inappropriate medication without seeking medical advice. Their health may suffer as a result of this.
The negative effects of taking the incorrect medication might put pharmacies and pharmacy retailers in legal jeopardy.
COVID 19 Impact
Due to a greater emphasis on personal health among the populace in the area following the COVID-19 epidemic in 2020, dietary supplements and over-the-counter medications saw a spike in sales. As a result, people are consuming more vitamins and over-the-counter medications for treating colds and the flu. The market for over-the-counter medicines and dietary supplements would be driven during the forecast period by such a rise in demand.
Market Segmentation
The Global Over Counter (OTC) Drug and Dietary Supplement Market is divided into Product, Type, Form, and Distribution Channel.
Based on Product, the 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.
Based on Type, the market is divided into Branded and Generic.
Based on Form, the market is bifurcated into Tablets, Capsules, Powders, Ointments, liquids, and Others.
Based on Distribution Channel, the market is classified into Hospital and Retail Pharmacies, Retail Stores, Online Channels, and Others.
Regional Analysis
The Global Over Counter (OTC) Drug and Dietary Supplement Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
North America is estimated to account for a major market share during the forecast period due to the main markets for over-the-counter medications and dietary supplements being the US and Canada. Compared to the rest of the world (ROW), this region's market will grow more quickly. Over-the-counter medications and dietary supplement market expansion in North America will be aided by the region's rapidly expanding population throughout the forecast period.
In Addition, the expansion of the market in China is driven by the increase in awareness of personal care and treatment. Additionally, it is anticipated that the rise in the number of elderly people in China, together with the rising prevalence of new ailments, will support market expansion in the near term.
Key Developments
The demerger of the Consumer Healthcare division from the GSK Group into the Haleon Group was completed by GSK plc in July 2022.
Dr. Reddy's Laboratories Ltd. and Slayback Pharma LLC entered into a licensing agreement in July 2022 to obtain the rights to Slayback's Brimonidine Tartrate Ophthalmic Solution 0.025%, which is the private label version of Lumify® (an OTC eyedrop) in the United States. Additionally, the deal grants Dr. Reddy sole ownership of the product outside of the United States.
Key Players
Various key players are discussed in the Global Over the Counter (OTC) Drug and Dietary Supplement Market Report including: Pfizer Inc., Novartis International AG, Roche Holding AG, Merck & Co., Inc., Sanofi S.A, Johnson & Johnson, Gilead Sciences, GlaxoSmithKline plc., Bayer Healthcare AG, and AstraZeneca plc.
Market Taxonomy
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 Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Over the Counter (OTC) Drug and Dietary Supplement Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Over the Counter (OTC) Drug and Dietary Supplement Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Over the Counter (OTC) Drug and Dietary Supplement Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Product
5.3 Global Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Product
5.3.1 Cough and Cold Products
5.3.2 Vitamins and Dietary Supplements
5.3.3 Analgesics
5.3.4 Gastrointestinal Products
5.3.5 Sleep Aids
5.3.6 Oral Care Products
5.3.7 Ophthalmic Products
5.3.8 Antacids
5.3.9 Feminine Care
5.3.10 Others
6 Global Over the Counter (OTC) Drug and Dietary Supplement Market, By Type
6.1 Y-o-Y Growth Comparison, By Type
6.2 Global Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Type
6.3 Global Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Type
6.3.1 Branded
6.3.2 Generic
8 Global Over the Counter (OTC) Drug and Dietary Supplement Market, By Form
8.1 Y-o-Y Growth Comparison, By Form
8.2 Global Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Form
8.3 Global Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Form
8.3.1 Tablets
8.3.2 Capsules
8.3.3 Powders
8.3.4 Ointments
8.3.5 Liquid
8.3.6 Others
9 Global Over the Counter (OTC) Drug and Dietary Supplement Market, By Distribution Channel
9.1 Y-o-Y Growth Comparison, By Distribution Channel
9.2 Global Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Distribution Channel
9.3 Global Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Distribution Channel
9.3.1 Hospital and Retail Pharmacies
9.3.2 Retail Stores
9.3.3 Online Channels
9.3.4 Others
10 Global Over the Counter (OTC) Drug and Dietary Supplement Market, By Region
10.1 Global Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Region
10.2 Global Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Region
11 North America Over the Counter (OTC) Drug and Dietary Supplement Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 North America Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Product
11.3 North America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Type
11.4 North America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Form
11.5 North America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Distribution Channel
11.6 North America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Country
11.6.1 U.S.
11.6.2 Canada
11.6.3 Mexico
12 Europe Over the Counter (OTC) Drug and Dietary Supplement Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Europe Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Product
12.3 Europe Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Type
12.4 Europe Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Form
12.5 Europe Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Distribution Channel
12.6 Europe Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Country
12.6.1 Germany
12.7.2 France
12.7.3 UK
12.7.4 Rest of Europe
13 Asia Pacific Over the Counter (OTC) Drug and Dietary Supplement Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Asia Pacific Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Product
13.3 Asia Pacific Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Type
13.4 Asia Pacific Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Form
13.5 Asia Pacific Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Distribution Channel
13.6 Asia Pacific Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Country
13.6.1 China
13.6.2 Japan
13.6.3 India
13.6.4 Rest of Asia Pacific
14 6atin America Over the Counter (OTC) Drug and Dietary Supplement Market Analysis and Forecast (2023-2030)
14.1 Introduction
14.2 Latin America Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Product
14.3 Latin America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Type
14.4 Latin America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Form
14.5 Latin America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Distribution Channel
14.6 Latin America Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, Country
14.6.1 Brazil
14.6.2 Rest of Latin America
15 Middle East Over the Counter (OTC) Drug and Dietary Supplement Market Analysis and Forecast (2023-2030)
15.1 Introduction
15.2 Middle East Over the Counter (OTC) Drug and Dietary Supplement Market Share Analysis, By Product
15.3 Middle East Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Type
15.4 Middle East Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Form
15.5 Middle East Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Distribution Channel
15.6 Middle East Over the Counter (OTC) Drug and Dietary Supplement Market Size and Forecast, By Country
15.6.1 Saudi Arabia
15.6.2 UAE
15.6.3 Egypt
15.6.4 Kuwait
15.6.5 South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1 Pfizer Inc.
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2 Novartis International AG
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3 Roche Holding AG
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 Merck & Co., Inc.
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5 Sanofi S.A
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 Johnson & Johnson
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7 Gilead Sciences
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8 GlaxoSmithKline plc.
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9 Bayer Healthcare AG
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10 AstraZeneca plc.
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies
