U.S. OTC DRUGS MARKET SIZE TO REACH USD 43.18 BILLION BY 2026, GROWING AT A CAGR OF 4.01% DURING THE PERIOD 2021-2026

U.S. OTC Drugs Market Size, Share, & Trends Analysis Report by Product Type (Cold & Cough, Analgesics, Dietary Supplements, Gastrointestinal, Dermatology, Ophthalmic, and Others), Indication (Infection, Pain, Heartburn, Immune/Health Booster, and Others), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, and Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2021–2026

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173 Pages

36 Tables

82 Charts

1 Regions

1 Countries

22 Companies

3 Market Segment

U.S. OTC DRUGS MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 43.18 BILLION (2026)
CAGR 4.01% (2021-2026)
Base Year 2020
Forecast Year 2021 –2026
Market Segments Product Type (Cold & Cough, Analgesics, Dietary Supplements, Gastrointestinal, Dermatology, Ophthalmic, and Others), Indication (Infection, Pain, Heartburn, Immune/Health Booster, and Others), and Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, and Others)
Geographic Analysis United States

U.S. OTC DRUGS MARKET INSIGHTS

The U.S. OTC drugs market size to reach USD 43.18 billion by 2026, growing at a CAGR of 4.01% during the forecast period. With the rise in self-medication among the US population, the demand for on-the-counter (OTC) drugs are significantly increasing. COVID-19 outbreak has considerably influenced the sales of these drugs with the increased focus on personal health. The expansion in the number of OTC medicines in the region by manufacturing companies and switching prescriptions to OTC drugs highly contributes to market growth. The demand for on-the-counter drugs has constantly been increasing with the rise of private labels, online sales, and the number of OTC product launches in the upcoming years. Recently, the sales of OTC medicines have been growing through online platforms, thereby benefitting private retailers.

U.S. OTC DRUGS MARKET: KEY HIGHLIGHTS

  • In 2020, online pharmacies and hospital pharmacies segments accounted for the most significant U.S. OTC drugs market shares of 20.60% and 18.50%, respectively.
  • Based on indication, the infection segment is anticipated to grow with the highest incremental growth of USD 2.78 billion during the forecast period.
  • Online retail giants like Amazon, which recently launched a private label line called Basic Care, contribute to the US OTC drugs market trend. 
  • In the past 30 years, the FDA has converted more than 700 prescription (Rx) products to OTC status.

KEY OPPORTUNITIES IN THE MARKET:

  • Impact of healthcare reforms on OTC drugs
  • OTC product launches & replacement of prescription drugs
  • Private labels & online sales of OTC medicines
  • Switching of prescription drugs to OTC drugs

MARKET SHARE & SEGMENTS

  • There is a wide and powerful array of OTC, supplemental, and herbal preparations to treat patients with upper and lower GI problems accelerating the market's growth in the US.
  • The demand for cold and cough OTC drugs has already been high, and the dietary supplements are expected to have a higher growth rate mainly due to COVID-19.
  • The increasing population and prevalence of digestive and cardiovascular problems accompanied by a sedentary lifestyle will increase demand for on-the-counter drugs.
  • The online pharmacies distribution channel segment is anticipated to witness an incremental growth of USD 2.90 billion during the forecast period.
  • To reinforce the competitive position, OTC companies may consider acquiring brands rather than companies.
  • The advent of COVID-19 led to an increased dependence on online pharmacies for purchasing medicines fueling the demand for OTC medicines.

IMPACT OF COVID-19

During COVID-19, healthcare practitioners played a critical part in educating patients on OTC treatments and usage. During the COVID-19 pandemic, most people were treating themselves at home with the strict regulation of lockdown, thereby surging the growth of the U.S. OTC drugs market. Consumers benefit from the availability of OTCs and their physicians endorsing OTC usage. Both groups acknowledge the downside of OTC treatment. Companies are increasing their productivity to meet the high demand during the COVID-19.

COMPETITIVE LANDSCAPE

Leading companies are constantly consolidating their market position through strategic and high-profile mergers and acquisitions. Governments across the US are likely to sponsor campaigns to enhance health education, increasing self-medication. The OTC drugs market in the US is highly competitive and fragmented with the presence of various players. Many leading companies have a broad portfolio of OTC products that the major vendors acquire to strengthen their market value and emerge as the top player in the industry. Vendors are increasingly developing new and more effective products suitable for self-medication to boom in the US OTC drugs market.

The U.S. OTC drugs market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

  • Product Type
    • Cold & Cough
    • Analgesics
    • Dietary Supplements
    • Gastrointestinal
    • Dermatology
    • Ophthalmic
    • Others
  • Indication
    • Infection
    • Pain
    • Heartburn
    • Immune/Health Booster
    • Others
  • Distribution Channel
    • Retail Pharmacies
    • Hospital Pharmacies
    • Online Pharmacies
    • Others

Frequently Asked Questions

U.S. OTC drugs market size to reach USD 43.18 billion by 2026, growing at a CAGR of 4.01% during the forecast period.
Retail pharmacies, hospital pharmacies, and online pharmacies are some of the distribution channels.
Johnson & Johnson, GlaxoSmithKline, Bayer AG, and Teva Pharmaceutical Industries are the key players.
Cold & cough is the leading segment in the industry.
During the COVID-19 pandemic, most of the people were treating themselves at home with the strict regulation of lockdown, thereby, surging the growth of the industry.
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