OTC Pharmaceuticals - Americas | Statista Market Forecast

Revenue in the OTC Pharmaceuticals market amounts to US$61.02bn in 2024. The market is expected to grow annually by 4.08% (CAGR 2024-2029).
The market's largest segment is the segment Cold & Cough Remedies with a market volume of US$14.33bn in 2024.
In global comparison, most revenue is generated United States (US$41bn in 2024).
In relation to total population figures, per person revenues of US$60.01 are generated in 2024.
In the OTC Pharmaceuticals market, 29.6% of total revenue will be generated through online sales by 2024.

Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
For more information on the data displayed, use the info button next to the boxes.

Natural and synthetic agents
Analgesics (e.g. Asprin, Paracetamol)
Cough & Cold remedies (e.g. Vicks VapoRub)
Vitamins and Minerals
Skin treatment products

Prescription medicines
Homeopathic remedies

The OTC Pharmaceuticals market in Americas is experiencing steady growth due to various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in the Americas are increasingly seeking convenience and affordability when it comes to healthcare products. The availability of OTC Pharmaceuticals allows them to self-diagnose and self-treat common ailments without the need for a doctor's prescription. This convenience factor, coupled with the lower cost of OTC medications compared to prescription drugs, is driving the demand for OTC Pharmaceuticals in the region.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in the Americas is the increasing focus on preventive healthcare. Consumers are becoming more proactive in managing their health and are turning to OTC medications for preventive measures such as vitamins, supplements, and immune boosters. This trend is driven by the growing awareness of the importance of maintaining a healthy lifestyle and preventing diseases. Another trend in the market is the rising popularity of natural and herbal OTC products. Consumers are becoming more conscious about the ingredients in the products they use and are seeking natural alternatives to traditional medications. This trend is driven by the perception that natural products are safer and have fewer side effects.

Local special circumstances: The Americas region consists of diverse countries with varying healthcare systems and regulations. In some countries, such as the United States, OTC medications are readily available in pharmacies and retail stores, while in others, they may be restricted and require a prescription. These local regulations and access to OTC medications can impact the growth and development of the market in each country.

Underlying macroeconomic factors: The OTC Pharmaceuticals market in the Americas is also influenced by macroeconomic factors such as population growth, income levels, and healthcare expenditure. As the population in the region continues to grow, there is a larger consumer base for OTC medications. Higher income levels also enable consumers to afford OTC products, driving the demand further. Additionally, increasing healthcare expenditure by governments and private organizations contributes to the growth of the market by improving access to healthcare products and services. In conclusion, the OTC Pharmaceuticals market in the Americas is growing steadily due to customer preferences for convenience and affordability, trends towards preventive healthcare and natural products, local regulations and access to OTC medications, as well as underlying macroeconomic factors such as population growth, income levels, and healthcare expenditure.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.