The global Over the Counter (OTC) Analgesics Market is estimated to be valued at US$ 28.55 Bn or in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Over the counter (OTC) analgesics help reduce minor pain and fever without a prescription. This includes medicines like acetaminophen, non-steroidal anti-inflammatory drugs (NSAIDs), and combination medications. OTC analgesics provide convenient pain relief options for conditions like headaches, muscle aches, backaches, toothaches, colds, and menstrual cramps.
Market key trends:
One of the key trends in the Global Over The Counter (OTC) Analgesics Market is growing preference for combination medications. Combination OTC drugs provide synergistic relief from pain caused by headaches, backaches, menstrual cramps, and other temporary ailments. They often contain both acetaminophen and an NSAID to target pain through different mechanisms. As combination drugs address pain more quickly and comprehensively than single-ingredient products, their sales have been rising steadily. Furthermore, launch of cheap generic versions of popular combination brands is expected to further increase accessibility and adoption rates.
Segment Analysis
The global Over the Counter (OTC) analgesics market is segmented into non-steroidal anti-inflammatory drugs (NSAIDs) and acetaminophen. The NSAIDs segment dominates the market and is expected to witness highest growth over the forecast period. NSAIDs are more potent pain relievers compared to acetaminophen and are the preferred choice of treatment for inflammatory conditions like arthritis.
Key Takeaways
Market size
The global Over the Counter (OTC) analgesics market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing prevalence of conditions like arthritis and migraine that require pain management. The market size is expected to reach US$ 28.55 Bn by 2023.
Regional analysis
North America dominates the global OTC analgesics market currently. However, Asia Pacific region is expected to grow at the fastest rate over the forecast period due to increasing awareness about self-medication in countries like India and China.
Key players
Key players operating in the Over the Counter (OTC) analgesics market are Sanofi SA, Reckitt Benckiser Group PLC, Pfizer Inc., Mylan NV, GlaxoSmithKline PLC, Johnson & Johnson, Bayer, Takeda Pharmaceutical, and Sun Pharmaceutical Industries Ltd., among others. Sanofi SA and Pfizer Inc. have the largest market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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