The North America OTC drug and dietary supplement market was valued at US$ 131,818.3 million in 2019 and is projected to reach US$ 224,349.5 million by 2027; it is expected to grow at a CAGR of 7.0% during 2020-2027.
The growth of the OTC drug and dietary supplement market is mainly attributed to the factors such as rising awareness among population about general health issues, and advantages of OTC drugs over the prescription medicine in terms of price. However, strict FDA regulation for OTC drugs is the major factor hindering the market growth.
Over the counter (OTC) drugs are available for the public for their general use. These drugs do not require a prescription from a physician. OTC medicines are available for various medical conditions such as coughs and colds, diarrhea, heartburn, constipation, acne, and pain. On the other hand, dietary supplements are available over the counter for fitness purposes. Whereas, in some cases, when a person is critically ill or requires treatment, then buying a dietary supplement with medicinal ingredients require a prescription from a physician. These OTC drugs and dietary supplements are of two types: branded and generic.
People nowadays are aware of general health issues such as cold, cough, allergies, fever, pain, acidity, diarrhea, and skin-related conditions. Moreover, people are focused on having healthy lifestyle and avoiding the consumption of junk food that leads to lifestyle-related diseases such as diabetes, obesity, and cardiovascular diseases. Growing preference toward maintaining the healthy lifestyle also leads to the consumption of weight-loss products and dietary supplements, including vitamins, minerals, and supplements. Increasing exposure to internet has resulted in easy access to dietary supplements and over the counter (OTC) drugs to consumers, at affordable prices.
The common health issues can be seasonal or they might occur due to minor changes in routine habits; hence, people prefer taking OTC medicines instead of visiting a doctor. In many cases, this saves time and money, and provides immediate relief. The government also has initiated various programs toward health awareness; there has been a quick and smooth adoption of everyday technology for healthcare and wellness, contributing to the industry's overall growth.
As the number of COVID-19 cases is increasing in the North American countries, the purchase of dietary supplement and vitamins has been significantly increased. People are buying these products to increase immunity and combat the COVID-19 spread.
Based on product, the OTC drug and dietary supplement market is segmented into analgesics, cough and cold products, vitamins and dietary supplements, gastrointestinal products, antacids, ophthalmic products, sleep aids, oral care products, feminine care and others. The analgesics segment held the largest share of the market in 2019; however, the market for vitamins and dietary supplements is estimated grow at the highest CAGR in the market during the forecast period.
Based on type, the market is segmented into generic and branded. Based on form, the market is segmented into tablets, capsules, powders, liquid, ointments, and others. Based on distribution channel, the market is segmented into hospital and retail pharmacies, retail stores, online channels, and others.
The World Health Organization (WHO), World Heart Federation, National Center for Biotechnology Information, along with company websites are among the major primary and secondary sources referred for preparing this report.
Reasons to Buy
The growth of the OTC drug and dietary supplement market is mainly attributed to the factors such as rising awareness among population about general health issues, and advantages of OTC drugs over the prescription medicine in terms of price. However, strict FDA regulation for OTC drugs is the major factor hindering the market growth.
Over the counter (OTC) drugs are available for the public for their general use. These drugs do not require a prescription from a physician. OTC medicines are available for various medical conditions such as coughs and colds, diarrhea, heartburn, constipation, acne, and pain. On the other hand, dietary supplements are available over the counter for fitness purposes. Whereas, in some cases, when a person is critically ill or requires treatment, then buying a dietary supplement with medicinal ingredients require a prescription from a physician. These OTC drugs and dietary supplements are of two types: branded and generic.
People nowadays are aware of general health issues such as cold, cough, allergies, fever, pain, acidity, diarrhea, and skin-related conditions. Moreover, people are focused on having healthy lifestyle and avoiding the consumption of junk food that leads to lifestyle-related diseases such as diabetes, obesity, and cardiovascular diseases. Growing preference toward maintaining the healthy lifestyle also leads to the consumption of weight-loss products and dietary supplements, including vitamins, minerals, and supplements. Increasing exposure to internet has resulted in easy access to dietary supplements and over the counter (OTC) drugs to consumers, at affordable prices.
The common health issues can be seasonal or they might occur due to minor changes in routine habits; hence, people prefer taking OTC medicines instead of visiting a doctor. In many cases, this saves time and money, and provides immediate relief. The government also has initiated various programs toward health awareness; there has been a quick and smooth adoption of everyday technology for healthcare and wellness, contributing to the industry's overall growth.
As the number of COVID-19 cases is increasing in the North American countries, the purchase of dietary supplement and vitamins has been significantly increased. People are buying these products to increase immunity and combat the COVID-19 spread.
Based on product, the OTC drug and dietary supplement market is segmented into analgesics, cough and cold products, vitamins and dietary supplements, gastrointestinal products, antacids, ophthalmic products, sleep aids, oral care products, feminine care and others. The analgesics segment held the largest share of the market in 2019; however, the market for vitamins and dietary supplements is estimated grow at the highest CAGR in the market during the forecast period.
Based on type, the market is segmented into generic and branded. Based on form, the market is segmented into tablets, capsules, powders, liquid, ointments, and others. Based on distribution channel, the market is segmented into hospital and retail pharmacies, retail stores, online channels, and others.
The World Health Organization (WHO), World Heart Federation, National Center for Biotechnology Information, along with company websites are among the major primary and secondary sources referred for preparing this report.
Reasons to Buy
- Saves and reduces time required for carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America OTC Drug and Dietary Supplement market
- Highlights key business priorities to assist companies in order to realign their business strategies
- Highlights key findings and recommendations of crucial progressive industry trends in the North America OTC Drug and Dietary Supplement market, thereby allowing players across the value chain to develop effective long-term strategies
- Develops/modifies business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinizes in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhances the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. OTC Drug and Dietary Supplement - Market Landscape
5. North America OTC Drug and Dietary Supplement Market - Industry Dynamics
6. OTC Drug and Dietary Supplement Market - Regional Analysis
7. North America OTC Drug and Dietary Supplement Market Analysis - By Product
8. OTC Drug and Dietary Supplement Analysis - By Type
9. OTC Drug and Dietary Supplement Analysis - By Form
10. OTC Drug and Dietary Supplement Analysis - By Distribution Channel
11. OTC Drug and Dietary Supplement Analysis And Forecasts To 2027 - Geographical Analysis
12. Impact Of COVID-19 Pandemic On Global OTC Drug and Dietary Supplement Market
13. Company Profiles
14. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- GlaxoSmithKline plc.
- Sanofi
- Johnson and Johnson Services, Inc.
- Abbott
- AbbVie Inc.
- Bausch Health Companies Inc.
- Bayer AG
- Procter & Gamble
- Novartis AG
- Reckitt Benckiser Group Plc
