Authored By: Sarah
11 Jul 2024

 Over-The-Counter (OTC) Analgesics Market Size to grow by USD 7200.4 million between 2024-2028

According to a research report “ Over-The-Counter (OTC) Analgesics Market” by Type (Internal, External) Distribution Channel (Offline, Online) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 7200.4 million, at a CAGR of over 4.98% during the forecast period. The global demographic shift towards an aging population is significantly influencing market trends, particularly in the Over-The-Counter (OTC) analgesics sector. With approximately 771 million individuals aged 65 or older worldwide in 2022, representing around 10% of the global population, the demand for effective pain relief solutions is escalating. As people live longer lives, they increasingly encounter age-related health issues, such as arthritis, musculoskeletal disorders, and various other age-related ailments, leading to chronic pain. This demographic transition is fueling the need for accessible and efficient pain relief options, making OTC analgesics an indispensable solution in addressing this growing demand.

Browse market data tables, figures, and in-depth TOC on “Over-The-Counter (OTC) Analgesics Market” by Type (Internal, External) Distribution Channel (Offline, Online) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Type, the Internal segment is projected to dominate the market size in 2024

The Over-The-Counter (OTC) Analgesics Market represents a significant segment within the pharmaceutical industry. These medicines, available without a prescription, alleviate pain and fever. Key players in this market include Johnson & Johnson, Pfizer, and Novartis. Growth is driven by increasing consumer awareness and preference for self-medication. Market size is projected to expand at a steady CAGR through 2027.

By Distribution Channel, Offline  segment is expected to hold the largest market size for the year 2024

The Over-The-Counter (OTC) Analgesics market represents a significant business sector, characterized by the production and distribution of pain relievers without a prescription. These products, including non-steroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, generate substantial revenue due to their widespread use in managing various types of pain. Market growth is driven by increasing consumer awareness, demographic shifts, and the expansion of product offerings. Companies focus on innovation and strategic partnerships to maintain a competitive edge.

North America is forecasted to hold the largest market size by region in 2024

The Over-The-Counter (OTC) Analgesics Market represents a significant segment within the pharmaceutical industry. These pain relievers, available without a prescription, generate substantial revenue due to their widespread usage for alleviating various types of pain. Key players in this market leverage innovative strategies, including product diversification and pricing tactics, to cater to consumer preferences and maintain competitive edge. Market growth is driven by factors such as increasing prevalence of chronic pain conditions and rising consumer awareness towards self-medication.

The Over-The-Counter (OTC) Analgesics Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AKUMS
  • AstraZeneca Plc
  • Bayer AG
  • Boehringer Ingelheim International GmbH
  • Cardinal Health Inc.
  • Cipla Inc.
  • CV Sciences Inc.
  • Endo International Plc
  • GlaxoSmithKline Plc
  • Medterra CBD
  • Novartis AG
  • Perrigo Co. Plc
  • Pfizer Inc.
  • Piramal Enterprises Ltd.
  • Reckitt Benckiser Group Plc
  • Sanofi SA
  • Sun Pharmaceutical Industries Ltd.
  • Takeda Pharmaceutical Co. Ltd.
  • Teva Pharmaceutical Industries Ltd.
  • Viatris Inc.
  • Weefsel Pharma
.

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Research Analysis Overview

The Over-The-Counter (OTC) Analgesics Market encompasses a wide range of self-medication options for pain management, including both external and internal medications. Self-care has become increasingly popular, particularly among the ageing population and those dealing with chronic pain. External OTC analgesics, such as topical creams and gels, are effective for joint pains, muscle aches, and arthritis. Internal OTC analgesics, like Salicylates, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Acetaminophen, and medications containing Tylenol or Aspirin, are used for headaches, fever, and other types of pain. The market for OTC analgesics is vast and diverse, with distribution through various channels, including online pharmacies, retail pharmacies, and hospital pharmacies. Pregnant women and geriatric population require special considerations, as some medications may be off-label or contraindicated. Pain management programs often recommend OTC analgesics for self-treatment, but it's essential to consult a physician or pharmacist before starting any new medication, especially for chronic pain or complex health conditions. Some common OTC pain medicines include Acetaminophen, Aspirin, and NSAIDs like Ibuprofen and Naproxen. These medications can be found in various forms, including tablets, capsules, liquids, and topical applications. Always read the label carefully and follow the recommended dosage instructions to ensure safe and effective use.

Market Research Overview

The Over-The-Counter (OTC) Analgesics Market encompasses a range of medications used for pain relief, including Paracetamol, Naproxen, and Ibuprofen. These non-opioid analgesics are widely available in pharmacies and are commonly used for arthritis pain, inflammation, muscle injuries, surgeries, and other conditions like cancer and cardiovascular disease. The aging population, with its increasing prevalence of musculoskeletal diseases such as osteoarthritis and axial spondyloarthritis, contributes significantly to the market's growth. Stringent regulations aim to minimize the risks of addiction, brain damage, and wrong medication usage, especially with long-term use and self-medication. External OTC analgesics, like topical creams and gels, and internal OTC analgesics, such as tablets and capsules, cater to various pain types. The market includes Salicylates and Nonsteroidal Anti-Inflammatory Drugs (NSAIDs) like Naproxen and Ibuprofen. Pharmaceutical businesses diversify their offerings through advertising campaigns, targeting chronic pain disorders, sports-related injuries, and chronic pain in middle-lower class families, pregnant women, and geriatric populations. Distribution through retail pharmacies, online pharmacies, and hospital pharmacies expands accessibility. Despite the benefits, concerns over side-effects, price sensitivity, and self-medication trends persist. Off-label drug use and the availability of prescription drugs like Tylenol and Aspirin further impact the market. The market segments include Salicylates and NSAIDs, with Tylenol (Paracetamol) and Aspirin (Salicylates) leading the former, and Naproxen and Ibuprofen dominating the NSAID segment. Pain management programs and holistic health initiatives aim to promote well-being and responsible use of these medications.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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