PUBLISHER: The Business Research Company | PRODUCT CODE: 1670807
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670807
OTC drugs are pharmaceuticals that can be purchased over the counter and are used to treat common medical conditions. In contrast, dietary supplements are formulated to enhance the intake of specific nutrients or bioactive compounds in the diet and are not intended to treat, prevent, or cure diseases. OTC drugs provide rapid relief from symptoms and address specific health concerns, while dietary supplements offer additional nutritional support to promote overall wellness and strengthen the body's health maintenance. Together, they contribute to a holistic approach to self-care and preventive health.
The primary categories within OTC drugs and dietary supplements include vitamin and dietary supplements, cough and cold products, analgesics, gastrointestinal products, sleep aids, otic products, wart removers, mouth care products, ophthalmic products, and others. Vitamin and dietary supplements consist of chemical substances utilized in minimal quantities for diverse metabolic processes, contributing to overall health and aiding in the management of various health issues. These products are accessible in various forms such as tablets, hard capsules, powders, ointments, soft capsules, liquids, and more, and are conveniently found in pharmacies, grocery stores, vitamin and health food stores, as well as online pharmacies.
The OTC drug and dietary supplement market research report is one of a series of new reports from The Business Research Company that provides OTC drug and dietary supplement market statistics, including OTC drug and dietary supplement industry global market size, regional shares, competitors with an OTC drug and dietary supplement market share, detailed OTC drug and dietary supplement market segments, market trends and opportunities, and any further data you may need to thrive in the OTC drug and dietary supplement industry. This OTC drug and dietary supplement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The OTC drug and dietary supplement market size has grown strongly in recent years. It will grow from $332.52 billion in 2024 to $355.94 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to an increased number of fitness enthusiasts, demographic shifts and aging population, regulatory approvals and safety standards, pharmacy and retail expansions, and marketing and advertising strategies
The OTC drug and dietary supplement market size is expected to see strong growth in the next few years. It will grow to $470.7 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to personalized nutrition and supplements, nutraceutical innovations, expansion of functional foods, global health crises and preparedness, and government initiatives for wellness. Major trends in the forecast period include product innovations, clean label and natural ingredients, cannabidiol (CBD) and hemp-based products, sustainable and eco-friendly packaging, partnerships and collaborations.
An increase in pharmaceutical R&D expenditure is anticipated to enhance the OTC drug and dietary supplement market in the future. R&D investment refers to the costs incurred by a company for the development, design, and improvement of its products. Higher spending can lead to greater innovation and productivity in creating and formulating OTC drugs and dietary supplements. For example, in December 2023, Eurostat, the statistical office of the European Union based in Luxembourg, reported that in 2022, the EU's research and development (R&D) expenditure rose to €352 billion ($384.42 billion), representing a 6.34% increase from €331 billion ($361.48 billion) the previous year. Therefore, the rise in pharmaceutical R&D expenditure is fueling the OTC drug and dietary supplement market.
The growing demand for dietary supplements is expected to drive the expansion of the OTC drug and dietary supplement market. Dietary supplements are products that contain vitamins, minerals, herbs, amino acids, or other dietary components intended to enhance one's diet. The OTC classification allows dietary supplements to be sold without a prescription, improving their availability across various retail channels, including pharmacies, supermarkets, and online platforms. This accessibility encourages consumer choice and contributes to market growth. For instance, in January 2024, a report from Nutrition Integrated, a UK-based company specializing in data and insights for active nutrition, indicated that in Europe, the variety of clear protein powder products has increased by 159% since January 2022. Furthermore, sales data from Amazon shows that consumer purchases of clear protein powders in the UK surged by 216% in 2023 compared to 2022. Therefore, the rising demand for dietary supplements is driving growth in the OTC drug and dietary supplement market.
The OTC drug and dietary supplement market is experiencing a significant trend towards product innovation, with major companies actively developing novel products to enhance their market positions. An example of this trend is evident in the actions of Dr. Reddy's Laboratories Ltd., an India-based pharmaceutical industry player. In July 2022, the company introduced over-the-counter (OTC) Fexofenadine HCl 180 mg and Pseudoephedrine HCl 240 mg extended-release tablets. This OTC product serves as both an oral antihistamine and nasal decongestant, offering temporary relief for nasal and sinus congestion caused by colds or allergies. The launch of such innovative products contributes to the expansion of OTC portfolios, addressing specific health needs.
Major companies are strategically focusing on groundbreaking innovations, such as the development of oral contraceptive pills (OCP), to fortify their market presence. Perrigo Company PLC, an Ireland-based self-care company, achieved a noteworthy milestone in July 2023 when the U.S. Food and Drug Administration (FDA) granted approval for Opill, a progestin-only daily oral contraceptive, to be available over-the-counter (OTC) for all ages. This landmark decision marked Opill as the first-ever OTC accessible birth control pill in the United States. Perrigo's CEO, Patrick Lockwood-Taylor, emphasized the historical significance of this development for women's health, highlighting Opill's potential to revolutionize access to contraception. The approval underscores Perrigo's commitment to impactful solutions that enhance lives, representing a significant advancement in women's health.
In June 2022, Glenmark Pharmaceuticals Ltd., an India-based biopharmaceutical company, bolstered its presence in the OTC market in the United States by acquiring specific over-the-counter approved generic versions of drugs from Wockhardt Ltd. This undisclosed acquisition from Wockhardt Ltd., an India-based pharmaceutical and biotechnology company, further positions Glenmark Pharmaceuticals in the competitive OTC drug and dietary supplement market, demonstrating a commitment to expansion and strategic growth initiatives.
Major companies operating in the OTC drug and dietary supplement market include Pfizer Inc., Johnson & Johnson Ltd., Merck & Co. Inc., Bayer AG, Novartis AG, Sanofi S.A, Abbott Laboratories Inc, GSK plc, Gilead Sciences Inc., Reckitt Benckiser Plc., Teva Pharmaceutical Industries Ltd., Alcon Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Church & Dwight Co Inc, Perrigo Company plc, Dr. Reddy's Laboratories Ltd., Cipla Limited, Glenmark Pharmaceuticals Limited, Alkem Laboratories Ltd, Nutraceutical International Corporation, Procter & Gamble Health Limited, Reese Pharmaceutical Company, UPM Pharmaceuticals Inc, Gemini Pharmaceuticals Inc., Pharmavite LLC, Now Health Group Inc., Alfresa Pharma Corporation
North America was the largest region in the OTC drug and dietary supplement market in 2024. The regions covered in the otc drug and dietary supplement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the otc drug and dietary supplement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The OTC drug and dietary supplement market consist of sales of pain relievers, omega-3 fatty acids, probiotics, and herbal supplements. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
OTC Drug And Dietary Supplement Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on otc drug and dietary supplement market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for otc drug and dietary supplement ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The otc drug and dietary supplement market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.