US OTC Drugs Market Size 2022 | Share, Growth, Analysis and Forecast to 2027

The United States over the counter (OTC) drugs market is expected to exhibit a CAGR of 5.40% during 2022-2027.

SHERIDAN, WYOMING, USA, November 16, 2022 /EINPresswire.com/ -- 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 US OTC drugs market is expected to exhibit a CAGR of 5.40% during 2022-2027.

Over-the-counter (OTC) drugs, also known as nonprescription medicines, can be used without any prescription by a professional. They are used to treat common health problems, such as allergies, constipation, dermatitis, obesity, cold and flu, headaches, heartburn, dental caries, nausea, and musculoskeletal pain. They are more effective, safe for consumption, cheaper, and easily available than prescribed drugs. At present, there is increasing demand for OTC drugs in the United States owing to the growing consumer inclination toward self-medication for minor health problems.

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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.

United States Over the Counter (OTC) Drugs Market Trends and Drivers:

The market is primarily driven by the rising health consciousness among the masses due to the increasing lifestyle-related diseases and rising consumption of junk food. In addition, the increasing prevalence of cough, cold, and flu infections is augmenting the market growth. Along with this, the sudden outbreak of the coronavirus disease (COVID-19) pandemic has resulted in awareness regarding self-care, eventually escalating the demand for minerals, vitamins, nutritional supplements, and weight-loss OTC drugs.

This, coupled with the rising adoption of OTC drugs due to their cost-effectiveness, easy availability, and the rising trend of self-medication among individuals, is positively influencing the market growth. Moreover, the growing mergers and acquisitions (M&A) between OTC manufacturers, private labels, and e-commerce companies and rising investment in research and development (R&D) activities to incorporate new OTC drugs for various health conditions are further propelling the market growth.

Furthermore, the rising number of retail stores offering OTC products and favorable initiatives undertaken by the US Government to promote the usage of OTC drugs are also creating a positive market outlook across the country.

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United States Over the Counter (OTC) Drugs Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

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
• Analgesics
• Dermatology Products
• Gastrointestinal Products
• Vitamins, Minerals and Supplements (VMS)
• Weight-loss/Dietary Products
• Ophthalmic Products
• Sleeping Aids
• Others

Breakup by Route of Administration:
• Oral
• Parenteral
• Topical
• Others

Breakup by Dosage Form:
• Tablets and Capsules
• Liquids
• Ointments
• Others

Breakup by Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others

Breakup by Region:
• Northeast
• Midwest
• South
• West

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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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