North America Over the Counter Drugs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Over the Counter Drugs Market Analysis
The North America Over the Counter (OTC) Drugs Market is anticipated to grow with a CAGR of 2.7%, during the forecast period.
The OTC drugs market is innovation-driven and relies on the advent of innovative drugs for different disease complexities and vary in their degree of intensity, and efficacy. The product innovations in OTC drugs have built confidence among the consumers and have resulted in the increased demand for OTC drugs. Although the market share is high in the North American region, the USA's share is less when compared to the other countries on a global forefront. This can be due to the strict regulatory measures taken by the US government in the labelling of drugs as OTC. But in recent times, there has been a change in opinion regarding the OTC market. The potential benefits have been identified and as a result, OTC drugs have been made more accessible.
According to the Consumer Healthcare Products Association, 2019, it was estimated that about 93% of the Americans prefer to treat their minor ailments with OTC medicines before seeking professional care. For the treatment of musculoskeletal injuries and disorders, many patients in the United States generally use nonprescription topical analgesics. Counterirritants are approved by the FDA for the topical treatment of minor pains and muscle and joint aches and are often used for the treatment of acute musculoskeletal injuries, such as simple backache, arthritis pain, strains, bruises, and sprains. Thus, owing to above factors the market is expected to show growth over the forecast period.
North America Over the Counter Drugs Market Trends
This section covers the major market trends shaping the North America OTC Drugs Market according to our research experts:
Weight-loss and Dietary Products Segment is Expected to Grow with a High CAGR Over the Forecast Period in the North America Over the Counter Drugs Market
The weight-loss and dietary products segment are believed to show the highest CAGR during the forecast period. This is majorly attributed to the rising awareness of the general population about health and the rise in the consumption of junk food, which is leading to the rise in lifestyle-related diseases. The VMS (vitamins, minerals, and supplements) segment is believed to have the largest market share.
VMS and weight loss OTC drugs contribute the most to the overall market. The reason for this major share is the vast customer base for various products under this category. Unlike other conditions, which are intense in nature, the VMS and weight loss conditions are not very bothersome. OTC products for these conditions are more of a precautious nature than that of treatment or cure. And this is why the number of customers is relatively high than the ones for other indications.
According to the Consumer Healthcare Products Association (CHPA) 2019 report, estimated that on average, United States households spend about USD 442 annually on OTC products. Furthermore, large customer pools give rise to high demand, which, in turn, results in high revenue generation. VMS products are very popular in developed countries because of the increasingly unhealthy population. Hence, owing to above factors the segment is expected to show some significant growth in coming years.
North America Over the Counter Drugs Industry Overview
North America over the counter drugs market is fragmented competitive 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 with fewer prices. Companies, like Johnson and Johnson, Novartis AG, Bayer AG, Sanofi, and Pfizer, hold significant market shares in North America over the counter drugs market.
North America Over the Counter Drugs Market Leaders
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Sanofi
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Johnson and Johnson
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Novartis AG
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Pfizer Inc
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Bayer AG
*Disclaimer: Major Players sorted in no particular order
North America Over the Counter Drugs Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 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 Product Innovations
- 4.2.2 Inclination of Pharmaceutical Companies Toward OTC Drugs from RX Drugs
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4.3 Market Restraints
- 4.3.1 Probability of Substance 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
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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 Distribution Channel
- 5.2.1 Hospital Pharmacies
- 5.2.2 Retail Pharmacies
- 5.2.3 Online Pharmacy
- 5.2.4 Other Distribution Channels
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Johnson and Johnson
- 6.1.2 Novartis AG
- 6.1.3 Bayer AG
- 6.1.4 Sanofi
- 6.1.5 Pfizer Inc
- 6.1.6 GlaxoSmithKline Plc
- 6.1.7 Perrigo Company Plc
- 6.1.8 Takeda Pharmaceutical Company Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityNorth America Over the Counter Drugs Industry Segmentation
As per the scope of this report, over the counter drugs are referred to as non-prescription drugs. These medicines can be bought by an individual without the doctor's prescription and are safe for consumption without the doctor's consent. North America over the counter drugs market is segmented by product type, distribution channel, and geography.
| 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 Distribution Channel | Hospital Pharmacies | |
| Retail Pharmacies | ||
| Online Pharmacy | ||
| Other Distribution Channels | ||
| Geography | North America | United States |
| Canada | ||
| Mexico |
North America Over the Counter Drugs Market Research FAQs
What is the current North America Over the Counter Drugs Market size?
The North America Over the Counter Drugs Market is projected to register a CAGR of 2.70% during the forecast period (2024-2029)
Who are the key players in North America Over the Counter Drugs Market?
Sanofi, Johnson and Johnson, Novartis AG, Pfizer Inc and Bayer AG are the major companies operating in the North America Over the Counter Drugs Market.
What years does this North America Over the Counter Drugs Market cover?
The report covers the North America Over the Counter Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Over the Counter Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Over The Counter Industry Report
Statistics for the 2024 North America Over The Counter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Over The Counter analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
