OTC Pharmaceuticals - United States

  • United States
  • Revenue in the OTC Pharmaceuticals market amounts to US$40.72bn in 2024. The market is expected to grow annually by 3.52% (CAGR 2024-2028).
  • The market's largest segment is the segment Cold & Cough Remedies with a market volume of US$11.11bn in 2024.
  • In global comparison, most revenue is generated in the United States (US$40,720m in 2024).
  • In relation to total population figures, per person revenues of US$119.10 are generated in 2024.
  • In the OTC Pharmaceuticals market, 47.9% of total revenue will be generated through online sales by 2024.

Key regions: Worldwide, India, Philippines, United States, Europe

 
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Analyst Opinion

The OTC Pharmaceuticals market in United States is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this growth.

Customer preferences play a crucial role in the development of the OTC Pharmaceuticals market in United States. Consumers are increasingly seeking convenience and self-care options for their healthcare needs. OTC medications provide an accessible and cost-effective solution for common ailments and minor health issues.

With a busy lifestyle and limited time for doctor visits, many consumers are turning to OTC medications for quick relief. Additionally, the growing aging population in the United States is driving demand for OTC medications that address age-related health concerns. Several trends are shaping the OTC Pharmaceuticals market in United States.

One key trend is the increasing availability of OTC medications in various retail channels. Pharmacies, supermarkets, and online platforms are expanding their product offerings to meet consumer demand. This trend is driven by the convenience and accessibility of OTC medications, allowing consumers to easily purchase them alongside their regular shopping.

Another trend is the rise of private label OTC medications. Retailers are launching their own brands of OTC medications, offering consumers more affordable options without compromising on quality. This trend is particularly popular among price-conscious consumers.

Local special circumstances also contribute to the development of the OTC Pharmaceuticals market in United States. The country has a well-established healthcare system with a strong emphasis on self-care and consumer empowerment. This cultural mindset encourages consumers to take control of their health and seek OTC medications for minor ailments.

Additionally, the United States has a robust regulatory framework for OTC medications, ensuring safety and efficacy. This regulatory environment instills confidence in consumers and encourages them to choose OTC medications over prescription alternatives. Underlying macroeconomic factors further support the growth of the OTC Pharmaceuticals market in United States.

The country has a high disposable income and strong consumer purchasing power. This enables consumers to afford OTC medications and drives demand for these products. Additionally, the United States has a well-developed retail infrastructure, with a wide range of distribution channels.

This infrastructure facilitates the availability and accessibility of OTC medications to consumers across the country. In conclusion, the OTC Pharmaceuticals market in United States is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for convenience and self-care options, the availability of OTC medications in various retail channels, the rise of private label brands, the cultural emphasis on self-care, the robust regulatory framework, the high disposable income, and the well-developed retail infrastructure all contribute to the growth of this market.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.

Overview

  • Revenue
  • Analyst Opinion
  • Key Players
  • Demographics
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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