OTC Drug and Dietary Supplement Global Market Report 2024

The otc drug and dietary supplement market size has grown strongly in recent years. It will grow from $310.97 billion in 2023 to $331.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. During the historical period, the notable growth can be ascribed to several key factors. These include a rise in the number of fitness enthusiasts, demographic shifts marked by an aging population, regulatory approvals and adherence to safety standards, expansions in pharmacy and retail sectors, and effective marketing and advertising strategies. These combined elements have contributed significantly to the growth observed in this timeframe.

The otc drug and dietary supplement market size is expected to see strong growth in the next few years. It will grow to $438.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period is attributable to various factors, including the emergence of personalized nutrition and supplements, innovations in the nutraceutical sector, the expanding market for functional foods, heightened global health concerns and preparedness, as well as governmental initiatives promoting wellness. Key trends expected in the forecast period encompass product innovations, a focus on clean label and natural ingredients, the incorporation of cannabidiol (CBD) and hemp-based products, the adoption of sustainable and eco-friendly packaging practices, and increased partnerships and collaborations within the industry. These trends are poised to shape and drive growth in the upcoming period.

The anticipated rise in pharmaceutical Research and Development (R&D) expenditure is poised to significantly boost the OTC drug and dietary supplement market in the coming years. R&D investment, encompassing expenses incurred by companies for the development, design, and enhancement of their offerings, is expected to foster innovation and productivity in the formulation of OTC drugs and dietary supplements. Notably, according to a report from the European Federation of Pharmaceutical Industries and Associations published in 2021, European health industries invested approximately 41.5 billion euros ($44.47 billion) in R&D expenditure, reflecting an increase from 39.65 billion euros ($42.49 billion) in 2020. This surge in pharmaceutical R&D expenditure serves as a driving force behind the growth of the OTC drug and dietary supplement market.

The escalating demand for dietary supplements is set to further propel the expansion of the OTC drug and dietary supplement market. Dietary supplements, comprising products containing vitamins, minerals, herbs, amino acids, or other dietary ingredients aimed at supplementing one's diet, enjoy OTC status, allowing them to be sold without a prescription. This accessibility is heightened through various retail outlets such as pharmacies, supermarkets, and online platforms, facilitating consumer choice and contributing to market growth. For instance, the CRN Consumer Survey on Dietary Supplements conducted by the Council for Responsible Nutrition in 2021 revealed that four out of five Americans were using dietary supplements, with an expected 80% increase in the number of Americans using such supplements. Hence, the increasing demand for dietary supplements stands as a significant driver for the growth of the OTC drug and dietary supplement market.

The OTC drug and dietary supplement market is experiencing a significant trend towards product innovation, with major companies actively developing novel products to enhance their market positions. An example of this trend is evident in the actions of Dr. Reddy’s Laboratories Ltd., an India-based pharmaceutical industry player. In July 2022, the company introduced over-the-counter (OTC) Fexofenadine HCl 180 mg and Pseudoephedrine HCl 240 mg extended-release tablets. This OTC product serves as both an oral antihistamine and nasal decongestant, offering temporary relief for nasal and sinus congestion caused by colds or allergies. The launch of such innovative products contributes to the expansion of OTC portfolios, addressing specific health needs.

Major companies are strategically focusing on groundbreaking innovations, such as the development of oral contraceptive pills (OCP), to fortify their market presence. Perrigo Company PLC, an Ireland-based self-care company, achieved a noteworthy milestone in July 2023 when the U.S. Food and Drug Administration (FDA) granted approval for Opill, a progestin-only daily oral contraceptive, to be available over-the-counter (OTC) for all ages. This landmark decision marked Opill as the first-ever OTC accessible birth control pill in the United States. Perrigo's CEO, Patrick Lockwood-Taylor, emphasized the historical significance of this development for women's health, highlighting Opill's potential to revolutionize access to contraception. The approval underscores Perrigo's commitment to impactful solutions that enhance lives, representing a significant advancement in women's health.

In June 2022, Glenmark Pharmaceuticals Ltd., an India-based biopharmaceutical company, bolstered its presence in the OTC market in the United States by acquiring specific over-the-counter approved generic versions of drugs from Wockhardt Ltd. This undisclosed acquisition from Wockhardt Ltd., an India-based pharmaceutical and biotechnology company, further positions Glenmark Pharmaceuticals in the competitive OTC drug and dietary supplement market, demonstrating a commitment to expansion and strategic growth initiatives.

Major companies operating in the otc drug and dietary supplement market report are Pfizer Inc., Johnson & Johnson Ltd., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A, AstraZeneca PLC, Abbott Laboratories Inc., GSK PLC, Gilead Sciences Inc., Reckitt Benckiser Plc., Teva Pharmaceutical Industries Ltd., Alcon Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Church & Dwight Co Inc., Perrigo Company PLC, Dr. Reddy's Laboratories Ltd., Cipla Limited, Glenmark Pharmaceuticals Limited, Alkem Laboratories Ltd., Nutraceutical International Corporation, Procter & Gamble Health Limited, Reese Pharmaceutical Company, UPM Pharmaceuticals Inc., Gemini Pharmaceuticals Inc., Pharmavite LLC, Now Health Group Inc., Alfresa Pharma Corporation.

North America was the largest region in the OTC drug and dietary supplement market in 2023. The regions covered in the otc drug and dietary supplement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the otc drug and dietary supplement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories within OTC drugs and dietary supplements include vitamin and dietary supplements, cough and cold products, analgesics, gastrointestinal products, sleep aids, otic products, wart removers, mouth care products, ophthalmic products, and others. Vitamin and dietary supplements consist of chemical substances utilized in minimal quantities for diverse metabolic processes, contributing to overall health and aiding in the management of various health issues. These products are accessible in various forms such as tablets, hard capsules, powders, ointments, soft capsules, liquids, and more, and are conveniently found in pharmacies, grocery stores, vitamin and health food stores, as well as online pharmacies.

The OTC drug and dietary supplement market research report is one of a series of new reports that provides OTC drug and dietary supplement market statistics, including OTC drug and dietary supplement industry global market size, regional shares, competitors with an OTC drug and dietary supplement market share, detailed OTC drug and dietary supplement market segments, market trends and opportunities, and any further data you may need to thrive in the OTC drug and dietary supplement industry. This OTC drug and dietary supplement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.


The OTC drug and dietary supplement market consist of sales of pain relievers, omega-3 fatty acids, probiotics, and herbal supplements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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