OTC Pharmaceuticals - North America

North America

In 2024, the revenue in the OTC Pharmaceuticals market in North America amounts to US$47.02bn.
It is projected that the market will experience an annual growth rate of 3.69% (CAGR 2024-2029).
The largest market within the OTC Pharmaceuticals market is the Cold & Cough Remedies market, which has a market volume of US$12.22bn in 2024.
When compared globally, the in the United States generates the most revenue, reaching US$41,240.00m in 2024.
In terms of per capita figures, the revenue generated per person in 2024 is US$92.14.
Additionally, online sales are expected to contribute 34.80% of the total revenue in the OTC Pharmaceuticals market by 2024.
The demand for over-the-counter pharmaceuticals in North America is on the rise, driven by an increasing focus on self-care and convenience.

Key regions: United States, China, Germany, Japan, Europe

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.

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Analyst Opinion

The OTC Pharmaceuticals market in North America is experiencing significant growth due to several factors. Customer preferences for self-care and convenience, along with the increasing prevalence of chronic diseases, are driving the demand for over-the-counter medications. Additionally, local special circumstances such as a well-developed healthcare system and a high level of consumer awareness contribute to the market's growth. Customer preferences in North America are shifting towards self-care and convenience. Consumers are increasingly taking responsibility for their own health and seeking solutions that they can access easily without a prescription. Over-the-counter medications provide a convenient option for treating common ailments such as headaches, colds, and allergies. The availability of a wide range of OTC products allows consumers to choose the most suitable option for their needs. The increasing prevalence of chronic diseases is also fueling the growth of the OTC Pharmaceuticals market in North America. Conditions such as diabetes, hypertension, and obesity require long-term management, and OTC medications play a crucial role in providing relief and improving quality of life for patients. As the population ages and chronic diseases become more prevalent, the demand for OTC medications is expected to continue rising. In addition to customer preferences, local special circumstances in North America contribute to the growth of the OTC Pharmaceuticals market. The region has a well-developed healthcare system with easy access to pharmacies and healthcare professionals. This enables consumers to seek advice and purchase OTC medications conveniently. Moreover, consumer awareness about the availability and benefits of OTC medications is high in North America. Advertising and educational campaigns by pharmaceutical companies and healthcare organizations have helped to increase awareness and drive demand for OTC products. Several underlying macroeconomic factors support the growth of the OTC Pharmaceuticals market in North America. The region has a high per capita income, which allows consumers to afford OTC medications. Additionally, the presence of a large middle class and a high level of health insurance coverage further contribute to the market's growth. The robust pharmaceutical industry in North America, with a focus on research and development, ensures a steady supply of innovative OTC products. In conclusion, the OTC Pharmaceuticals market in North America is experiencing growth due to customer preferences for self-care and convenience, the increasing prevalence of chronic diseases, local special circumstances such as a well-developed healthcare system and high consumer awareness, and underlying macroeconomic factors. As these factors continue to drive demand, the market is expected to expand further in the coming years.

Methodology

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.