OTC Pharmaceuticals - United States

United States

The revenue generated in the OTC Pharmaceuticals market in 2024 is estimated to be approximately US$41.24bn.
It is projected that the market will experience an annual growth rate of 3.66% from 2024 to 2029 (CAGR 2024-2029).
The largest market within this market is Cold & Cough Remedies, which is expected to have a market volume of around US$11.19bn in 2024.
When compared globally, the in the United States stands out as the country generating the highest revenue in the OTC Pharmaceuticals market, with approximately US$41.24bn in 2024.
In terms of per capita revenue, each person the in the United States is estimated to contribute around US$120.70 to the OTC Pharmaceuticals market in 2024.
Furthermore, it is anticipated that online sales will account for approximately 35.26% of the total revenue in the OTC Pharmaceuticals market by 2024.
The United States is experiencing a growing trend in the OTC Pharmaceuticals market towards natural and herbal remedies.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Over-the-Counter Pharmaceuticals market includes non-prescription medications, treatments, and healthcare products that are available directly to consumers without a prescription from a licensed healthcare professional. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere such as supermarkets, and online retailers. Sales by hospitals are not included.

Structure:
The market is subdivided into Analgesics, Cold and Cough Remedies, Digestives and Intestinal Remedies, Skin Treatment, Vitamins and Minerals, Hand Sanitizer, Eye care, Sleep aids, Wound care, and Other OTC Pharmaceuticals. The Analgesics market covers non-prescription pain-relief medications which help to relief aches, pains and fevers. Cold & Cough market covers non-prescription remedies aimed at relieving nasal congestion, coughing, sore throat, and related cold discomforts. The Digestives and Intestinal Remedies market encompasses non-prescription products designed to alleviate symptoms related to digestive discomfort and intestinal issues. The Skin Treatment market includes non-prescription medications formulated to address various dermatological concerns such as acne, eczema and dryness. The Vitamins and Minerals market comprises non-prescription dietary supplements containing essential nutrients such as vitamins and minerals. The Hand sanitizer market covers sanitizing products which are applied on hands to effectively reduce the presence of bacteria and viruses. The Eye Care market covers non-prescription products to address common eye-related discomforts such as dryness, irritation or redness. The Sleep Aids market covers non-prescription products designed to promote relaxation, alleviate insomnia, and improve sleep quality. The Wound Care market includes non-prescription products designed to facilitate wound healing and prevent infection.

Additional information:
OTC Pharmaceuticals comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Analyst Opinion

The OTC Pharmaceuticals market in United States is witnessing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in the United States are increasingly opting for over-the-counter (OTC) pharmaceutical products for self-medication and minor health issues. This trend can be attributed to the convenience and accessibility of OTC products, as they can be purchased without a prescription. Additionally, customers are becoming more health-conscious and are seeking preventive measures to maintain their well-being. As a result, there is a growing demand for OTC products that promote general wellness, such as vitamins, dietary supplements, and herbal remedies.

Trends in the market: One of the key trends in the OTC Pharmaceuticals market in the United States is the rising popularity of natural and organic products. Customers are becoming more aware of the potential side effects of synthetic drugs and are seeking alternative options. This has led to an increase in the demand for natural remedies and herbal supplements. Furthermore, there is a growing preference for OTC products that target specific health concerns, such as sleep disorders, allergies, and digestive issues. Manufacturers are responding to these trends by introducing innovative products that cater to these specific needs.

Local special circumstances: The United States has a well-established healthcare system, which includes a robust OTC Pharmaceuticals market. The country has a large population with high disposable income, which enables consumers to spend on healthcare products. Additionally, the United States has a strong regulatory framework that ensures the safety and efficacy of OTC products. This gives consumers confidence in the quality of the products they purchase. Moreover, the presence of a large number of retail pharmacies and online platforms makes it easy for customers to access OTC products.

Underlying macroeconomic factors: The growth of the OTC Pharmaceuticals market in the United States is also influenced by macroeconomic factors. The country has a stable economy with a high standard of living, which allows consumers to spend on healthcare products. Furthermore, the aging population in the United States is driving the demand for OTC products, as older adults often require medications for chronic conditions. Additionally, the increasing prevalence of lifestyle-related diseases, such as obesity and diabetes, is fueling the demand for OTC products that target these health issues.In conclusion, the OTC Pharmaceuticals market in the United States is experiencing growth due to customer preferences for convenient and accessible healthcare solutions. The rising popularity of natural and organic products, along with the demand for targeted remedies, are driving the market. The local special circumstances, such as a well-established healthcare system and strong regulatory framework, further contribute to the growth. Additionally, macroeconomic factors, such as a stable economy and aging population, play a significant role in the development of the 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.