Over-The-Counter Drugs Market size was valued at USD 166 billion in 2022 and is expected to reach at USD 254 billion by 2030, and grow at a CAGR of 5.5% over the forecast period of 2023-2030.
The Over-The-Counter Drugs Market Report provides a comprehensive analysis of the global Over-The-Counter Drugs market, highlighting key trends, growth drivers, challenges, and opportunities. The report aims to assist industry stakeholders in making informed decisions and formulating effective strategies.
The Over-The-Counter (OTC) drugs market has witnessed significant growth in recent years, driven by various factors such as increasing self-medication practices, rising healthcare costs, and the growing prevalence of minor ailments. OTC drugs refer to medications that can be purchased directly by consumers without a prescription from a healthcare professional.
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One of the key advantages of OTC drugs is their accessibility and convenience. Consumers can easily obtain these medications from pharmacies, supermarkets, or online platforms, eliminating the need for doctor visits and reducing waiting times. This accessibility factor has made OTC drugs particularly popular for treating common ailments like headaches, colds, allergies, and digestive issues.
Moreover, the cost-effectiveness of OTC drugs compared to prescription medications has further fueled their demand. With rising healthcare costs and insurance limitations, many individuals find it more affordable to purchase OTC drugs for minor health concerns rather than seeking medical advice or getting a prescription. This affordability factor has also contributed to the market’s growth.
KEY MARKET SEGMENTS
By Product Type
- Analgesics
- Cold & Cough remedies,
- Digestives & Intestinal remedies
- Skin Treatment
- Others
By Distribution Channel
- Drug Stores & Retail Pharmacies,
- Hospital Pharmacies
- Online Pharmacies
Major Players Listed in the Report are as Follows:
Johnson & Johnson, Bayer Ag, Novartis Ag, Sanofi, Pfizer, Takeda pharmaceutical, Reckitt Benckiser group and Others.
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