Asia-Pacific Over-the-counter (OTC) Drugs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 39.22 Billion |
| Market Size (2029) | USD 58.42 Billion |
| CAGR (2024 - 2029) | 8.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Over-the-counter (OTC) Drugs Market Analysis
The Asia-Pacific Over-the-counter Drugs Market size is estimated at USD 39.22 billion in 2024, and is expected to reach USD 58.42 billion by 2029, growing at a CAGR of 8.30% during the forecast period (2024-2029).
The factors contributing to the growth of the Asia-Pacific over-the-counter (OTC) drugs market are high penetration in emerging countries such as India and China, increasing approval of OTC drugs, and the inclination of pharmaceutical companies toward OTC drugs over prescription drugs. Along with new accessibility channels in retail outlets, supermarkets are contributing to the growth of the OTC medication market in Asia-Pacific.
The widespread occurrence of pain-related issues, including back problems and various musculoskeletal conditions such as arthritis, osteoporosis, fibromyalgia, and sciatica, significantly drives the demand for analgesics in the region, thereby fueling the growth of the OTC drugs market. For instance, according to the 2022 National Health Survey (NHS) by the Australian Bureau of Statistics (ABS), published in June 2024, an estimated 4.0 million Australians, accounting for 16% of the population, reported having back problems. In addition, as per the same source, back problems ranked as the third leading cause of health burden, constituting 4.3% of the overall burden in Australia in 2023. In conclusion, the high prevalence of pain-related conditions, particularly back problems, underscores the critical role of analgesics in addressing these health issues. This demand is a key driver for the growth of the OTC drugs market, as evidenced by the significant health burden these conditions impose on the population.
Furthermore, the growing awareness of the management of various conditions, such as pain, using OTC drugs is expected to boost the usage of these drugs. For instance, in September 2023, Himalaya Wellness Company unveiled a new television advertising campaign for Rumalaya Active Spray, emphasizing swift and enduring pain relief for consumers. Centered around the theme, "Rumalaya Active Spray: Your Pain Relief Partner." The campaign underscores the offering of clinically tested, safe, and effective pain relief, with effects lasting up to six hours. This creates public awareness of the new OTC products and increases the demand for these products, boosting market growth over the study period.
However, the lack of awareness and drug abuse are expected to hinder the market growth over the forecast period.
Asia-Pacific Over-the-counter (OTC) Drugs Market Trends
The Cough, Cold, and Flu Products Segment is Expected to Hold Significant Share in the Market Over the Forecast Period
The cough, cold, and flu products segment in the Asia-Pacific OTC drugs market has been experiencing notable growth. This growth can be attributed to several factors, such as rising awareness about OTC medications, higher incidence of respiratory illnesses, growing availability of OTC products through various distribution channels, and new product launches for cough, cold, and flu management.
The high flu burden in the region is expected to increase the need for treatment with OTC drugs. For instance, according to the data published by the World Health Organization in October 2023, influenza activity in Southeast Asia stayed consistently high, with ongoing detections, mainly of the influenza A(H1N1)pdm09 and A(H3N2) viruses. Hence, the continuing high burden of flu and symptoms of cough and cold are expected to increase the need for OTC drugs, thereby boosting the segment growth over the study period.
Furthermore, government initiatives to increase the accessibility of OTC drugs in the segment are expected to boost the segment's growth over the study period. For instance, in June 2022, the Union Health Ministry India proposed amendments to the Drugs Rules of 1945, aiming to classify 16 specific medicines under Schedule K, including those for cold, flu, and cough, thereby exempting them from needing a doctor's prescription. This helps provide easy access to cold, flu, and cough OTC drugs in pharmacies and other distribution channels, thereby boosting the segment growth over the study period.
China is Expected to Record Major Share in the Market Over the Forecast Period
The OTC drugs market in China has been experiencing significant growth due to several factors, such as robust economic growth and increased disposable income, growing awareness about health and wellness, expansion of physical and online distribution channels, and new product approvals and launches in the country. Chinese government policies have supported the growth of the OTC market by enhancing regulations promoting self-medication and improving drug accessibility.
The expansion of both physical and online pharmacies in China is expected to increase the availability of OTC drugs, driving market growth in China. For instance, the Blue Book highlights a significant transition in China's pharmacies, emphasizing their ongoing shift toward online operations. Data from the 2023 Retail Pharmacy Development Status Report, published in June 2024 by the Blue Book, revealed that China's pharmaceutical retail industry has swiftly entered the 10,000-store era, intensifying the competition for regional market leadership. Thus, widespread distribution channels like pharmacies and online services are expected to boost the country's market growth.
Furthermore, the ongoing innovation in product formulations and delivery methods has expanded the range of available OTC products, catering to diverse consumer preferences. For instance, in January 2024, 3SBio stated that its subsidiary Zhejiang Wansheng Pharmaceutical Co. Ltd received approval for marketing Mandi (5% minoxidil) foam as an over-the-counter drug for the treatment of male pattern hair loss and alopecia areata, as submitted to the National Medical Products Administration (NMPA). Therefore, with the expanding distribution channels and new product approvals in the country, the market is expected to grow over the forecast period in China.
Asia-Pacific Over-the-counter (OTC) Drugs Industry Overview
The over-the-counter drugs market in Asia-Pacific is fragmented and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products at lower prices. Companies like Sanofi, Dr. Reddy's Laboratories, Taisho Pharmaceutical Group, and Procter & Gamble hold significant market shares in the Asia-Pacific over-the-counter drugs market.
Asia-Pacific Over-the-counter (OTC) Drugs Market Leaders
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Boehringer Ingelheim International GmbH
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Procter & Gamble
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Sanofi SA
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Dr. Reddy's Laboratories
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Taisho Pharmaceutical Group
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Over-the-counter (OTC) Drugs Market News
- June 2024: Dr. Reddy's Laboratories Ltd inked a definitive deal with Haleon PLC to buy shares of Northstar Switzerland SARL, a subsidiary of Haleon. This acquisition focuses on Haleon's global portfolio of consumer healthcare brands in the nicotine replacement therapy ("NRT") category, excluding the United States. The portfolio includes Nicotinell, an over-the-counter brand in the NRT category, boasting a significant presence in more than 30 countries, including countries of Asia.
- January 2024: Daiichi Sankyo Healthcare planned to launch an OTC version of Calonal tablets (acetaminophen), an antipyretic analgesic from Ayumi Pharmaceutical, in Japan.
Asia-Pacific Over-the-counter (OTC) Drugs Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 High Penetration in Emerging Markets with Increasing Approval of OTC Drugs
- 4.2.2 Inclination of Pharmaceutical Companies to Switch from Rx to OTC Drugs
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4.3 Market Restraints
- 4.3.1 Lack of Awareness and Drug Abuse
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product Type
- 5.1.1 Cough, Cold, and Flu Products
- 5.1.2 Analgesics
- 5.1.3 Dermatology Products
- 5.1.4 Gastrointestinal Products
- 5.1.5 Vitamins, Mineral, and Supplements (VMS)
- 5.1.6 Weight-loss/Dietary Products
- 5.1.7 Ophthalmic Products
- 5.1.8 Sleeping Aids
- 5.1.9 Other Product Types
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5.2 By Formulation Type
- 5.2.1 Tablets
- 5.2.2 Liquids
- 5.2.3 Ointments
- 5.2.4 Sprays
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5.3 By Distribution Channel
- 5.3.1 Hospital Pharmacies
- 5.3.2 Retail Pharmacies
- 5.3.3 Online Pharmacy
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5.4 Geography
- 5.4.1 China
- 5.4.2 Japan
- 5.4.3 India
- 5.4.4 Australia
- 5.4.5 South Korea
- 5.4.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Dr. Reddy's Laboratories
- 6.1.2 Sanofi SA
- 6.1.3 Haleon PLC
- 6.1.4 Taisho Pharmaceutical Group
- 6.1.5 Abbott Laboratories
- 6.1.6 Dabur India Limited
- 6.1.7 Procter & Gamble
- 6.1.8 Reckitt Benckiser Group PLC
- 6.1.9 Takeda Pharmaceutical Company Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAsia-Pacific Over-the-counter (OTC) Drugs Industry Segmentation
As per the scope of this report, over-the-counter (OTC) drugs are medications that can be purchased without a prescription. They are considered safe and effective for self-treatment of common ailments when used as directed.
The Asia-Pacific OTC drugs market is segmented by product type, formulation type, distribution channel, and geography. By product type, the market is segmented into cough, cold, and flu products, analgesics, dermatology products, gastrointestinal products, vitamins, minerals, and supplements (VMS), weight loss/dietary products, ophthalmic products, sleeping aids, and other product types. By formulation type, the market is segmented into tablets, liquids, ointments, and sprays. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. By geography, the market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific. For each segment, the market size and forecast are provided in terms of value (USD).
| By Product Type | Cough, Cold, and Flu Products |
| Analgesics | |
| Dermatology Products | |
| Gastrointestinal Products | |
| Vitamins, Mineral, and Supplements (VMS) | |
| Weight-loss/Dietary Products | |
| Ophthalmic Products | |
| Sleeping Aids | |
| Other Product Types | |
| By Formulation Type | Tablets |
| Liquids | |
| Ointments | |
| Sprays | |
| By Distribution Channel | Hospital Pharmacies |
| Retail Pharmacies | |
| Online Pharmacy | |
| Geography | China |
| Japan | |
| India | |
| Australia | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Over-the-counter (OTC) Drugs Market Research FAQs
How big is the Asia-Pacific Over-the-counter Drugs Market?
The Asia-Pacific Over-the-counter Drugs Market size is expected to reach USD 39.22 billion in 2024 and grow at a CAGR of 8.30% to reach USD 58.42 billion by 2029.
What is the current Asia-Pacific Over-the-counter Drugs Market size?
In 2024, the Asia-Pacific Over-the-counter Drugs Market size is expected to reach USD 39.22 billion.
Who are the key players in Asia-Pacific Over-the-counter Drugs Market?
Boehringer Ingelheim International GmbH, Procter & Gamble, Sanofi SA, Dr. Reddy's Laboratories and Taisho Pharmaceutical Group are the major companies operating in the Asia-Pacific Over-the-counter Drugs Market.
What years does this Asia-Pacific Over-the-counter Drugs Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Over-the-counter Drugs Market size was estimated at USD 35.96 billion. The report covers the Asia-Pacific Over-the-counter Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Over-the-counter Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Over-the-counter (OTC) Drugs Industry Report
Statistics for the 2024 Asia Pacific OTC Drugs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific OTC Drugs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
