U.S. Over the Counter (OTC) Drugs Market Revenue to Attain USD 41.72 Bn by 2033

27 Dec 2024

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Table of Content

1. U.S. Over the Counter (OTC) Drugs Market Revenue and Trends 2023 to 2033 2. Market Overview  3. Report Highlights of the U.S. Over The Counter (OTC) Drugs Market  4. Major Trends in the U.S. Over The Counter (OTC) Drugs Market 5. U.S. Over the Counter (OTC) Drugs Market Coverage 6. Market News  7. U.S. Over the Counter (OTC) Drugs Market Key Players

U.S. Over the Counter (OTC) Drugs Market Revenue and Trends 2023 to 2033

The U.S. over the counter (OTC) drugs market revenue reached USD 23.83 billion in 2024 and is predicted to attain around USD 41.72 billion by 2033 with a CAGR of 6.42%. The rising prevalence of various diseases and rapid shift toward self-medication are expected to boost the growth of the market in the coming years.

Market Overview 

Over the counter drugs are non-prescription medications, treatments, and health products that are purchased directly from registered pharmacists or physicians. These drugs are readily available at supermarkets, online pharmacies, and other retail outlets. These drugs include painkillers like acetaminophen and ibuprofen, dextromethorphan, and cough suppressants, which are safe and effective and are used to treat several diseases that do not need physician consultation.

The rising preference for over the counter drugs for treating minor illnesses is a major factor contributing to market expansion. These drugs further reduce the frequent need to visit hospitals. Market players are diversifying their product portfolios to cater to larger consumer demands. Moreover, there are rising approvals for OTC drugs, like antacids, proton pump inhibitors, and histamine-2 blockers, to treat and prevent acid reflux disease. These are most commonly purchased drugs by individuals, which fuels market growth.

Report Highlights of the U.S. Over The Counter (OTC) Drugs Market 

• By product type, the cough & cold products segment dominated the market with the largest share in 2023. This is mainly due to the increased presence of a variety of viruses that cause common colds, leading to an increased number of patients affected with cold and flu. This, in turn, boosted the adoption of cough and cold products.
• By dosage form, the tablets segment held the largest share of the market in 2023. Tablets are used to treat several health conditions like digestive health, allergies, colds, and flu. They contain a single active ingredient or a mixture of compounds, increasing their efficacy in therapeutics and improving patient outcomes.
• By route of administration, the oral segment accounted for the largest market share in 2023. Oral administration is a convenient way of medication delivery, allowing patients to take medications at home without the need of a physician, and promotes better adherence with improved patient outcomes.
• By distribution channel, the drug stores & retail pharmacies segment led the market with the largest share in 2023, as they offer a wide range of OTC drugs that cater to different health needs. The easy availability of OTC drugs at low cost in retail pharmacies and the rising network of retail pharmacies further bolstered the segment.

Major Trends in the U.S. Over The Counter (OTC) Drugs Market

• Rising Prevalence of Diseases: The increasing prevalence of various diseases like acute and chronic illnesses, such as neurological, respiratory, orthopedic, and cardiovascular diseases, is a major factor boosting the market. These disorders are becoming more common among individuals. With the increasing prevalence of diseases and the growing awareness of early disease prevention, there is a strong emphasis on self-medication, boosting the demand for OTC drugs.
• Regulatory Approvals: Regulatory bodies are increasingly approving OTC drugs to meet the varying consumer needs and curb the overall burden of diseases. For instance, in 2023, the Center for Drug Evaluation and Research (CDER) approved 55 new drugs that were never before approved or marketed in the U.S. These novel drugs include Filsuvez (to treat wounds associated with dystrophic and junctional epidermolysis bullosa), Ryzneuta (to treat neutropenia), Omvoh (to treat ulcerative colitis), and many more.
• Expansion of Retail Pharmacies and Online Pharmacies: Rapid expansion of the retail and online pharmacies is expected to drive market growth. These pharmacies allow people to purchase OTC drugs without a doctor’s prescription easily. Also, several retail pharmacies offer personalized services like consultations with pharmacists, enhancing customer experience in self-medication and boosting the sales of OTC drugs. Moreover, online pharmacies provide doorstep delivery, attracting more people. For instance, Amazon Pharmacy plans to open pharmacies in 20 new cities across the U.S. in 2025, more than doubling the number of cities where customers can get Same-Day Delivery of their medications.

U.S. Over the Counter (OTC) Drugs Market Coverage

Market News 

• In October 2024, GoodRx, an American healthcare company, announced the rollout of its new e-commerce solution, with Opill as its launch partner. This new seamless direct-to-consumer shopping experience allows consumers to order eligible health products and medications on the GoodRx platform and have them shipped directly to their door.
• In April 2024, Amneal Pharmaceuticals, Inc., an American publicly traded generics and specialty pharmaceutical company, announced the availability of OTC Naloxone Hydrochloride (Naloxone HCI) Nasal Spray, USP, 4mg, following Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration.

U.S. Over the Counter (OTC) Drugs Market Key Players

• Bayer AG
• Takeda Pharmaceutical Company Ltd.
• Pfizer
• Johnson & Johnson Services Inc.
• Sanofi S.A.
• Novartis AG
• Boehringer Ingelheim International GmbH
• GlaxoSmithKline PLC
• Mylan
• UPM Pharmaceuticals

Market Segmentation

By Product Type

• Vitamin and Dietary Supplements
• Cough & Cold Products
• Analgesics
• Gastrointestinal Products
• Sleep Aids
• Otic Products
• Wart Removers
• Mouth Care Products
• Ophthalmic Products
• Botanicals
• Antacids
• Smoking Cessation Products
• Feminine Care
• Others

By Dosage Form

• Tablets
• Hard Capsules
• Powders
• Ointments
• Soft Capsules
• Liquids
• Others

By Route of Administration

• Oral
• Parenteral
• Topical
• Others

By Distribution Channel

• Drug Stores & Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies

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