US OTC Drugs Market Size 2022-2027, Share, Growth, Report and Forecast
The latest research study “United States Over The Counter (OTC) Drugs Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the United States over the counter (OTC) drugs market is expected to exhibit a CAGR of 5.40% during 2022-2027.
Over-the-counter (OTC) drugs are medicines that can be consumed without any prescription by a healthcare professional. They are used to treat and avert common health problems, such as nausea, musculoskeletal pain, allergies, constipation, dermatitis, obesity, cold and flu, headaches, heartburn, and dental caries. They are also cheaper, convenient, and widely available at groceries, big box stores, and pharmacies compared to prescribed drugs. At present, there is an escalating demand for OTC drugs in the United States due to the shifting consumer preferences toward self-medication for minor health problems.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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United States Over the Counter (OTC) Drugs Market Trends and Drivers:
The market is primarily driven by the rising adoption of OTC drugs due to their cost-effectiveness and easy availability. In addition, the increasing demand for private-label OTC drugs is encouraging manufacturers to have a guaranteed revenue stream.
This, coupled with the growing mergers and acquisitions (M&A) between OTC manufacturers, private labels, and e-commerce companies, are further propelling the market growth. Apart from this, the leading manufacturers are investing in research and development (R&D) activities to incorporate new OTC drugs for various health conditions.
Other factors, including the increasing utilization of VMS (vitamins, minerals, and supplements) and weight-loss OTC drugs, the rising number of retail stores offering OTC products, and favorable initiatives undertaken by the US Government to encourage the use of OTC drugs are creating a positive market outlook across the country.
|United States Over the Counter (OTC) Drugs Market Report Scope|
|Growth Rate||CAGR of 5.40% from 2022 to 2027|
|Base year for estimation||2021|
United States Over the Counter (OTC) Drugs Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, product type, route of administration, dosage form and distribution channel.
Breakup by Product Type:
• Cough, Cold and Flu Products
• Dermatology Products
• Gastrointestinal Products
• Vitamins, Minerals and Supplements (VMS)
• Weight-loss/Dietary Products
• Ophthalmic Products
• Sleeping Aids
Breakup by Route of Administration:
Breakup by Dosage Form:
• Tablets and Capsules
Breakup by Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
Breakup by Region:
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Published Sat, 23 Jul 2022 16:12:41 -0500