Europe Over-the-Counter (OTC) Drug Market

Europe over-the-counter (OTC) drug market was valued at USD 49.67 billion in 2018 and is estimated to be valued at USD XX billion in 2024, witnessing a CAGR of 3.10%. Factors driving the market growth include increasing self-medication, new product launches, and cost savings enabled by OTC use.

The rising healthcare costs demand better accessibility and affordability of healthcare services. Self-medication with non-prescription drugs plays a vital role in this aspect and helps improve the accessibility while providing cost benefits There is an increase in self-medication in Europe. According to the Association of the European Self-medication Industry, one out of two packages of medicines sold in Europe is a non-prescription medicinal product. Widespread use of OTC medications has been linked with significant cost benefits to the healthcare providers of various countries. OTC medicines provide consumers with the opportunity to take adequate care of themselves when consulting a physician/doctor is not necessary. This saves resources for the healthcare providers, in particular, thus allowing them to divert their resources to more pressing healthcare issues.

Scope of the Report

The European OTC drug market has been segmented based on product type and geography. By product, the market studied has been segmented into distinct categories, including analgesics, cough, cold and flu products, dermatological products, gastrointestinal products, vitamins, minerals, weight-loss products, sleep aids, ophthalmic products, smoking cessation aids, and other products. Geographically, the market has been segmented into six regions France, Germany, United Kingdom, Italy, Spain, and Rest of Europe.

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Key Market Trends

Cough, Cold, and Flu Products segment is Expected to hold Largest Market Share

The Cough, Cold, and Flu Products segment holds the largest market share and is growing at the fastest rate. The increasing volume of use of Over-the-Counter (OTC) drugs in the cough/cold/flu category is driven by a rise in the number of individuals affected by these conditions. The growing prevalence of these common diseases (i.e., cough, cold, and flu) has led the patients to use OTC drugs, as these drugs are readily available and can be bought without a doctor’s prescription. This saves both time and cost required to visit a physician/hospital. Consumers depend on OTC cough and cold medicines as a first response to seek quick relief from symptoms. OTC product such as throat lozenges, provide immediate relief from throat tickles and contribute to the market as well. Owing to their easy procurement and increasing market demand, the sale of OTC drugs for cough, cold, and flu is increasing in Europe.

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