The US OTC drug market is anticipated to grow at a CAGR of 5.8% during the forecast period. The pharma players are increasingly shifting towards the OTC landscape owing to the growing preference of consumers and are bringing new drugs at an affordable price in the market. For the pharma companies in the US, OTC drugs are a huge business accounting for billions of dollars in revenue. Despite the lower per-unit costs, OTC drugs often surpass prescription drugs in terms of annual sales.
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The population in the US prefers OTC medications for any minor injuries or ailments before seeking professional healthcare. For instance, the Consumer Healthcare Products Association estimated in 2019 that around 93% of the Americans prefer OTC drugs to treat their minor ailments. Such a huge adopting and preference for OTC drugs in the country is the main driving factor for the market growth.
Market Coverage
- Market numbers available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered-
- By Product Type
- By Distribution Channel
- Competitive Landscape- Pfizer Inc., Johnson & Johnson Services Inc., Amgen Inc., Bristol-Myers Squibb Co., Bayer AG, and Others
Key Questions Addressed by the Report
- What is the current market size and growth rate in the forecast period?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- Impact on market growth due to the COVID-19 pandemic?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
- What are the current market trends?
- Impacting factors including drivers, restraints, and opportunities.
- How many pharmacies and stores selling OTC drugs in the country?
US OTC Drugs Market Report Segment
By Product Type
- Analgesics & Pain Relievers
- Cough, Cold & Flu Products
- Vitamins & Mineral Supplements
- Ophthalmic Products
- Others
By Distribution Channel
- Retail & Supermarket
- Online Platform
A full report of US OTC Drugs Market is available at: https://www.omrglobal.com/industry-reports/us-over-the-counter-otc-drugs-market
Company Profiles
- Achelios therapeutics., Inc.
- Amgen Inc.
- Amway Corp.
- Bayer AG
- Bristol-Myers Squibb Co.
- Cipla Ltd.
- Johnson & Johnson Services, Inc.
- Novartis international AG
- Pfizer, Inc
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