Dublin, May 09, 2023 (GLOBE NEWSWIRE) -- The "Global Over the Counter Drug and Dietary Supplement Market Size, Trends, and Growth Opportunity, by Product, by Type, by Form, by Distribution Channel, by Region and Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Over Counter (OTC) Drug and Dietary Supplement Market was valued at USD 280.75 million in 2022 and is expected to reach 612.9 million by 2030, at a CAGR 10.25% during the forecast period 2023- 2030.
Companies Mentioned
- Pfizer Inc.
- Novartis International AG
- Roche Holding AG
- Merck & Co. Inc.
- Sanofi S.A
- Johnson & Johnson
- Gilead Sciences
- GlaxoSmithKline plc.
- Bayer Healthcare AG
- AstraZeneca plc
OTC medications are also referred to as non-prescription meds because they can be obtained without a prescription. OTC medications are safe as long as they are taken by the directions given by medical professionals.
However, dietary supplements include components that are utilized to complete the body's nutrient needs and maintain the proper balance of nutrients. They also offer non-nutrient compounds that are advantageous to the body biologically.
Market Drivers
One of the main factors influencing the rise of the market for over-the-counter medicines and dietary supplements is the availability of a variety of payment alternatives. The prevalence of e-commerce in the pharmaceutical industry has grown quickly, especially among urban consumers thanks to the availability of various payment alternatives.
Through creative promotions and a variety of payment choices, suppliers are enticing clients to shop for over-the-counter medications and nutritional supplements on e-commerce websites. Online stores like ukmeds.co.uk and chemistdirect.co.uk, for instance, allow customers to pay with credit cards, debit cards, PayPal, and phone payments. Customers will be encouraged to buy over-the-counter medications and dietary supplements online as a result.
Market Restraints
One of the challenges impeding the growth of the OTC medications & dietary supplements industry is the consumption of inappropriate medication as a result of incorrect self-diagnosis. OTC medications and nutritional supplements are typically unprescribed medications. People with less drug expertise may self-diagnose incorrectly and take inappropriate medication without seeking medical advice. Their health may suffer as a result of this.
The negative effects of taking the incorrect medication might put pharmacies and pharmacy retailers in legal jeopardy.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 244 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD(MN)) in 2022 | USD(MN)280.75 Million |
| Forecasted Market Value (USD(MN)) by 2030 | USD(MN)612.9 Million |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Market Segmentation
By Product
- Cough and Cold Products
- Vitamins and Dietary Supplements
- Analgesics
- Gastrointestinal Products
- Sleep Aids
- Oral Care Products
- Ophthalmic Products
- Antacids
- Feminine Care
- Others
By Type
- Branded
- Generic
By Form
- Tablets
- Capsules
- Powders
- Ointments
- Liquid
- Others
By Distribution Channel
- Hospital and Retail Pharmacies
- Retail Stores
- Online Channels
- Others
For more information about this report visit https://www.researchandmarkets.com/r/vkl1fz
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