North America Over the Counter Drugs Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Product Type, Distribution Channel, and Geography.

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Major Players:

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Market Overview

The North America OTC market studied is anticipated to grow with a CAGR of 2.2%, during the forecast period (2019-2024).

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 labeling 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 reported statistics by the United Nations, it is estimated that nearly 81% of the adults use OTC medicine as the first response to minor health ailments and that nearly 70% of the parents give their children OTC medicine to treat an immediate medical symptom. Following the USA, Canada is the second biggest market in North America, followed by Mexico.

Scope of the Report

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.

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

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Key Market Trends

Weight-loss and Dietary Products Segment Expected to Grow with a High CAGR

The weight-loss and dietary products segment is 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. In fact, nearly 1/4th of the market belongs to this segment. 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. 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.

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Competitive Landscape

North America over the counter drugs market is highly 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.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Product Innovation

      2. 4.2.2 Inclination of Pharmaceutical Companies Toward OTC Drugs from RX Drugs

    3. 4.3 Market Restraints

      1. 4.3.1 Probability of Substance Abuse

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Cough, Cold, and Flu Products

      2. 5.1.2 Analgesics

      3. 5.1.3 Dermatology Products

      4. 5.1.4 Gastrointestinal Products

      5. 5.1.5 Vitamins, Mineral, and Supplements (VMS)

      6. 5.1.6 Weight-loss/Dietary Products

      7. 5.1.7 Ophthalmic Products

      8. 5.1.8 Sleeping Aids

      9. 5.1.9 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hospital Pharmacies

      2. 5.2.2 Retail Pharmacies

      3. 5.2.3 Online Pharmacy

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Johnson and Johnson

      2. 6.1.2 Novartis AG

      3. 6.1.3 Bayer AG

      4. 6.1.4 Sanofi

      5. 6.1.5 Pfizer

      6. 6.1.6 GlaxoSmithKline PLC

      7. 6.1.7 Perrigo Company PLC

      8. 6.1.8 Takeda Pharmaceutical Company Ltd

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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