The over-the-counter OTC drugs and dietary supplements market share is expected to increase to USD 57.96 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.44%.
The report extensively covers over the counter OTC drugs and dietary supplements market segmentations by the following:
- Distribution channel - Online and offline
- Geography - North America, Europe, Asia, and Rest of World (ROW)
The over the counter OTC drugs and dietary supplements market report offers information on several market vendors, including AbbVie Inc., Alfresa Holdings Corp., Alkalon AS, Alliance Pharma Plc, Bausch Health Companies Inc., Bayer AG, Colgate Palmolive Co., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Johnson and Johnson, Merck and Co. Inc., Novartis AG, Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi, Sun Pharmaceutical Industries Ltd., and the Procter and Gamble Co. among others.
This over-the-counter OTC drugs and dietary supplements market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
What will the Over the Counter OTC Drugs and Dietary Supplements Market Size be During the Forecast Period?
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Over the Counter OTC Drugs and Dietary Supplements Market: Key Drivers, Trends, and Challenges
The availability of multiple payment options is notably driving the over-the-counter OTC drugs and dietary supplements market growth, although factors such as the intake of wrong medication due to incorrect self-diagnosis may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the over-the-counter OTC drugs and dietary supplements industry. the holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key OTC drugs & dietary supplements market Driver
- The availability of multiple payment options is one of the key drivers contributing to the OTC drugs & dietary supplements market growth.
- The availability of different payment options has rapidly increased the penetration of e-commerce in the pharma sector, especially among the urban population.
- Vendors are encouraging customers to shop for OTC drugs and dietary supplements on e-commerce sites through innovative offers and multiple payment options.
- For instance, e-commerce websites such as ukmeds.co.uk and chemistdirect.co.uk offer payment using credit cards, debit cards, PayPal, and phone payments. This will encourage customers to purchase OTC drugs and dietary supplements without visiting the chemist.
Such convenience offered by multiple payment options will drive the OTC drugs & dietary supplements market growth during the forecast period.
Key Over the Counter OTC Drugs and Dietary Supplements Market Trend
- The increasing geriatric population is one of the key OTC drugs & dietary supplements market trends supporting the market growth.
- As per the World Health Organization (WHO), the number of people aged 65 years or above is expected to grow by approximately 1.5 billion in 2050.
- The geriatric population globally faces various kinds of health problems such as cancer, diabetes, high blood pressure, as well as lower high blood sugar levels. Therefore, they need to be more careful with their health.
- The geriatric population require medicines at certain intervals of time in order to cure themselves of these recurring health problems. Such necessity will propel the over-the-counter (OTC) drugs & dietary supplements market growth in the coming years.
Key Over the Counter OTC Drugs and Dietary Supplements Market Challenge
- Intake of wrong medication due to incorrect self-diagnosis is one of the factors hampering the OTC drugs & dietary supplements market growth.
- Typically, OTC drugs and dietary supplements are non-prescribed medicines.
- People who have less knowledge about drugs can consume the wrong medication due to incorrect self-diagnosis and without consulting healthcare professionals. This can have ill effects on their health.
- The consequences of consuming wrong medicine action might also lead to a legal threat to the drug stores as well as pharmacies.
- People might even die by consuming the wrong drugs or medicines and through incorrect self-diagnosis. Thus, the threat to the life of people is a restricting factor to over-the-counter (OTC) drugs & dietary supplements market growth during the forecast period.
This over-the-counter (OTC) drugs & dietary supplements market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. the actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Who are the Major Over the Counter OTC Drugs and Dietary Supplements Market Vendors?
the report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AbbVie Inc.
- Alfresa Holdings Corp.
- Alkalon AS
- Alliance Pharma Plc
- Bausch Health Companies Inc.
- Bayer AG
- Colgate Palmolive Co.
- F. Hoffmann La Roche Ltd.
- GlaxoSmithKline Plc
- Johnson and Johnson
- Merck and Co. Inc.
- Novartis AG
- Pfizer Inc.
- Reckitt Benckiser Group PLC
- Sanofi
- Sun Pharmaceutical Industries Ltd.
- the Procter and Gamble Co.
This statistical study of the over-the-counter (OTC) drugs & dietary supplements market encompasses successful business strategies deployed by the key vendors. the over-the-counter (OTC) drugs & dietary supplements market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.
Product Insights and News
- Bayer.com - The company offers over-the-counter drugs and dietary supplements such as Aspirin, Bepanthol, and Dermacalm.
- Colgatepalmolive.com - The company offers over-the-counter drugs and dietary supplements under the brands Colgate, Meridol, and Sanex.
- Gsk.com - The company offers over the counter drugs and dietary supplements under the brands Sensodyne, Parodontax, and Polident.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The over-the-counter (OTC) drugs & dietary supplements market forecast report offers in-depth insights into key vendor profiles. the profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Over the Counter OTC Drugs and Dietary Supplements Market?
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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the over-the-counter drugs & dietary supplements market in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The rapidly growing population will facilitate the over-the-counter drugs & dietary supplements market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 resulted in increased sales of OTC drugs and dietary supplements owing to a rise in focus on personal health by the people in the region. This has significantly augmented the intake of OTC medicines needed for the treatment of cold and flu, along with vitamins. Such an increase in demand will drive the over-the-counter drugs & dietary supplements market during the forecast period.
What are the Revenue-generating Distribution Channel Segments in the Over the Counter OTC Drugs and Dietary Supplements Market?
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The over-the-counter drugs & dietary supplements market share growth by the online segment will be significant during the forecast period. The availability of the online distribution channels for purchasing OTC drugs and dietary supplements provides convenience to the consumers for ordering medicines. Consumers can get additional information on side effects, low-cost medicine substitutes, and drug interactions by using an online platform. They can also set medicine reminders on online platforms. This will help them in making decisions for better online purchases. Hence, due to these factors, the sales of OTC drugs and dietary supplements via online distribution channels are expected to grow during the forecast period and thereby driving the over-the-counter drugs & dietary supplements market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the over-the-counter drugs & dietary supplements market size and actionable market insights on post COVID-19 impact on each segment.
Parent Market Analysis
Technavio categorizes the global over-the-counter (OTC) drugs & dietary supplements markett as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the over-the-counter (OTC) drugs & dietary supplements market during the forecast period.
Over the Counter OTC Drugs and Dietary Supplements Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the over-the-counter drugs & dietary supplements market, which vendors can leverage to gain a competitive advantage during the forecast period. the end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. the data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Over the Counter OTC Drugs and Dietary Supplements Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.44% |
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Market growth 2022-2026 |
$ 57.96 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.29 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Canada, Germany, China, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AbbVie Inc., Alfresa Holdings Corp., Alkalon AS, Alliance Pharma Plc, Bausch Health Companies Inc., Bayer AG, Colgate Palmolive Co., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Johnson and Johnson, Merck and Co. Inc., Novartis AG, Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi, Sun Pharmaceutical Industries Ltd., and the Procter and Gamble Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Over the Counter OTC Drugs and Dietary Supplements Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive over the counter OTC drugs and dietary supplements market growth during the next five years
- Precise estimation of the over the counter OTC drugs and dietary supplements market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- the growth of the over the counter OTC drugs and dietary supplements industry across North America, Europe, Asia, and Rest of World (ROW)
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of over the counter OTC drugs and dietary supplements market vendors
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