The over the counter analgesics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Over The Counter Analgesics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The over the counter analgesics market size has grown strongly in recent years. It will grow from $30.23 billion in 2023 to $32.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increase in prevalence of chronic pain, growth in awareness of self-care, increase number of pharmacies and retail outlets, rise in incidence of headaches and migraines, and rise in preference for nonprescription solutions.
The over the counter analgesics market size is expected to see strong growth in the next few years. It will grow to $40.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising health awareness, increasing self-medication, growing ecommerce platforms, increasing focus on preventive healthcare, and rising physical activity and sports injuries. Major trends in the forecast period include adoption of digital health technologies, implementation of personalized medicine, advancements in non-opioid pain relief, adoption of combination therapies, and advancements in pain management technology.
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Scope Of Over The Counter Analgesics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Over The Counter Analgesics Market Overview
Market Drivers –
The consumer preference to self-medication is expected to propel the growth of the over-the-counter (OTC) analgesics market going forward. Self-medication refers to the practice of using drugs, including over the counter (OTC) medications, herbal remedies, or other substances, to treat or manage symptoms or medical conditions without the guidance of a healthcare professional. Consumers prefer self-medication due to convenience, lower costs, and the ready availability of over-the-counter medications. OTC analgesics facilitate self-medication by providing easy access to adequate pain relief for common ailments, allowing individuals to manage mild to moderate pain without the need for a prescription. For instance, in July 2024, according to the Consumer Healthcare Products Association (CHPA), a US-based national trade association, retail sales of over the counter (OTC) medicines reached $43.4 billion in 2023, up from $42.1 billion in 2022. Therefore, the consumer preference for self-medication is driving the over-the-counter analgesics market.
Market Trends –
Major companies operating in the over-the-counter (OTC) analgesics market are developing educational pilots to improve consumer awareness about proper usage, dosage, and potential side effects, enhancing safe self-medication practices and reducing the risk of misuse. Educational pilots provide targeted information and training to consumers about the correct use, dosage, and potential risks associated with these medications and improve safety and efficacy by reducing misuse, enhancing consumer confidence, and promoting informed decision-making regarding pain management. For instance, in November 2022, the Consumer Healthcare Products Association (CHPA) Educational Foundation, a US-based association, launched an initiative to help consumers choose the right OTC pain relievers, such as Advil, Tylenol, and DG health products. The pilot enhances consumer education through digital tools by using QR code tags on dollar general shelves that link to an interactive quiz. This initiative is essential for the OTC analgesics market as it improves health literacy gaps and guides informed pain relief choices, ultimately improving consumer decision-making and boosting product engagement.
The over the counter analgesics market covered in this report is segmented –
1) By Type Of Drug: Acetaminophen, Nonsteroidal Anti Inflammatory Drugs (NSAIDs), Salicylates, Other Drugs
2) By Form: Tablets, Capsules, Liquid, Other Forms
3) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, Other Distribution Channels
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Regional Insights –
North America was the largest region in the over the counter analgesics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the over the counter analgesics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the over the counter analgesics market are Cardinal Health Inc., Pfizer Inc., Johnson & Johnson Services Inc., Merck & Co Inc., Bayer AG, Sanofi S.A., Novartis AG, GSK plc, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Reckitt Benckiser Group plc, Viatris Inc., Teva Pharmaceutical Industries Limited, Haleon plc, Sun Pharmaceutical Industries Limited, Perrigo Company plc, Aurobindo Pharma Limited, Dr Reddy’s Laboratories Limited, Cipla Limited, Hikma Pharmaceuticals PLC, Lupin Pharmaceuticals Inc., Glenmark Pharmaceuticals Limited, Piramal Enterprises Limited, Cumberland Pharmaceuticals Inc., Medterra LLC
Table of Contents
1. Executive Summary
2. Over The Counter Analgesics Market Report Structure
3. Over The Counter Analgesics Market Trends And Strategies
4. Over The Counter Analgesics Market – Macro Economic Scenario
5. Over The Counter Analgesics Market Size And Growth
…..
27. Over The Counter Analgesics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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