This report describes and explains the OTC drug and dietary supplement market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global OTC drug and dietary supplement market reached a value of nearly $310.96 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.8% since 2018. The market is expected to grow from $310.96 billion in 2023 to $438.25 billion in 2028 at a rate of 7.1%. The market is then expected to grow at a CAGR of 7.6% from 2028 and reach $632.1 billion in 2033.
Growth in the historic period resulted from rise in pharma research and development (R&D) expenditure, rising healthcare expenditure, growing fitness industry and growing use of telemedicine services. Factors that negatively affected growth in the historic period were lack of awareness.
Going forward, increase in health consciousness, increasing demand for dietary supplements, rising government initiatives, increasing aging population worldwide and expansion of the e-commerce industry will drive the growth. Factor that could hinder the growth of the OTC drug and dietary supplement market in the future include side effects and safety concerns.
The OTC drug and dietary supplement market is segmented by category into vitamin and dietary supplements, cough and cold dosage forms, analgesics, gastrointestinal dosage forms, skin and other categories. The vitamin and dietary supplement market was the largest segment of the OTC drug and dietary supplement market segmented by category, accounting for 38.5% or $119.71 billion of the total in 2023. Going forward, the vitamin and dietary supplement segment is expected to be the fastest growing segment in the OTC drug and dietary supplement market segmented by category, at a CAGR of 8.2% during 2023-2028.
The OTC drug and dietary supplement market is segmented by dosage form into tablets, hard capsules, powders, ointments, soft capsules, liquids and other dosage forms. The tablets market was the largest segment of the OTC drug and dietary supplement market segmented by dosage form, accounting for 33.2% or $103.26 billion of the total in 2023. Going forward, the soft capsules segment is expected to be the fastest growing segment in the OTC drug and dietary supplement market segmented by dosage form, at a CAGR of 8.3% during 2023-2028.
The OTC drug and dietary supplement market is segmented by distribution channel into pharmacies, grocery stores, vitamin and health food stores and online pharmacies. The pharmacies market was the largest segment of the OTC drug and dietary supplement market segmented by distribution channel, accounting for pharmacies % or $144.13 billion of the total in 2023. Going forward, the online pharmacies segment is expected to be the fastest growing segment in the OTC drug and dietary supplement market segmented by distribution channel, at a CAGR of 8.5% during 2023-2028.
North America was the largest region in the OTC drug and dietary supplement market, accounting for 42.7% or $132.84 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the OTC drug and dietary supplement market will be Asia-Pacific and Africa where growth will be at CAGRs of 9.9% and 9.3% respectively. These will be followed by the Middle East and South America where the markets are expected to grow at CAGRs of 8.7% and 7.9% respectively.
The global OTC drug and dietary supplement market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 21.5% of the total market in 2023. Nestlé S.A. was the largest competitor with a 4.5% share of the market, followed by Procter & Gamble Co. with 3.4%, Haleon plc with 2.9%, Abbott Laboratories with 2.4%, Sanofi S.A. with 1.8%, Reckitt Benckiser Group plc with 1.7%, Bayer AG with 1.6%, Church & Dwight Co. Inc. with 1.2%, Nature’s Bounty Co. with 1% and Perrigo Company plc with 0.9%.
The top opportunities in the OTC drug and dietary supplement market segmented by category will arise in the vitamin and dietary supplements segment, which will gain $57.73 billion of global annual sales by 2028. The top opportunities in the OTC drug and dietary supplement market segmented by dosage form will arise in the tablets segment, which will gain $46.76 billion of global annual sales by 2028. The top opportunities in the OTC drug and dietary supplement market segmented by distribution channel will arise in the pharmacies segment, which will gain $60.26 billion of global annual sales by 2028. The OTC drug and dietary supplement market size will gain the most in the USA at $32.63 billion.
Market-trend-based strategies for the OTC drug and dietary supplement market include expansion of production capabilities in dietary supplements and OTC drugs, new over-the-counter option for opioid overdose reversal, launch of natural herb-based supplement for nursing mothers, introduction of OTC drug line for pain and allergy relief, innovation in women's health pharmaceuticals.
Player-adopted strategies in the OTC drug and dietary supplement market include focuses on focus on expanding its business expertise through new product solutions, strengthening its business operations through strategic partnerships, and strengthening its business capabilities through the launch of new products.
To take advantage of the opportunities, the analyst recommends the OTC drug and dietary supplement companies to focus on production expansion for market leadership, focus on expanding access to opioid overdose reversal solutions, focus on developing natural herb-based supplements for nursing mothers, focus on expanding otc drug lines for pain and allergy relief, focus on innovating with otc oral contraceptives, focus on vitamin and dietary supplements segment, focus on online pharmacies, focus on expanding presence in emerging markets, focus on competitive pricing strategies, embrace digital marketing channels, educate consumers through content marketing and focus on targeting aging population effectively.
The global OTC drug and dietary supplement market reached a value of nearly $310.96 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.8% since 2018. The market is expected to grow from $310.96 billion in 2023 to $438.25 billion in 2028 at a rate of 7.1%. The market is then expected to grow at a CAGR of 7.6% from 2028 and reach $632.1 billion in 2033.
Growth in the historic period resulted from rise in pharma research and development (R&D) expenditure, rising healthcare expenditure, growing fitness industry and growing use of telemedicine services. Factors that negatively affected growth in the historic period were lack of awareness.
Going forward, increase in health consciousness, increasing demand for dietary supplements, rising government initiatives, increasing aging population worldwide and expansion of the e-commerce industry will drive the growth. Factor that could hinder the growth of the OTC drug and dietary supplement market in the future include side effects and safety concerns.
The OTC drug and dietary supplement market is segmented by category into vitamin and dietary supplements, cough and cold dosage forms, analgesics, gastrointestinal dosage forms, skin and other categories. The vitamin and dietary supplement market was the largest segment of the OTC drug and dietary supplement market segmented by category, accounting for 38.5% or $119.71 billion of the total in 2023. Going forward, the vitamin and dietary supplement segment is expected to be the fastest growing segment in the OTC drug and dietary supplement market segmented by category, at a CAGR of 8.2% during 2023-2028.
The OTC drug and dietary supplement market is segmented by dosage form into tablets, hard capsules, powders, ointments, soft capsules, liquids and other dosage forms. The tablets market was the largest segment of the OTC drug and dietary supplement market segmented by dosage form, accounting for 33.2% or $103.26 billion of the total in 2023. Going forward, the soft capsules segment is expected to be the fastest growing segment in the OTC drug and dietary supplement market segmented by dosage form, at a CAGR of 8.3% during 2023-2028.
The OTC drug and dietary supplement market is segmented by distribution channel into pharmacies, grocery stores, vitamin and health food stores and online pharmacies. The pharmacies market was the largest segment of the OTC drug and dietary supplement market segmented by distribution channel, accounting for pharmacies % or $144.13 billion of the total in 2023. Going forward, the online pharmacies segment is expected to be the fastest growing segment in the OTC drug and dietary supplement market segmented by distribution channel, at a CAGR of 8.5% during 2023-2028.
North America was the largest region in the OTC drug and dietary supplement market, accounting for 42.7% or $132.84 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the OTC drug and dietary supplement market will be Asia-Pacific and Africa where growth will be at CAGRs of 9.9% and 9.3% respectively. These will be followed by the Middle East and South America where the markets are expected to grow at CAGRs of 8.7% and 7.9% respectively.
The global OTC drug and dietary supplement market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 21.5% of the total market in 2023. Nestlé S.A. was the largest competitor with a 4.5% share of the market, followed by Procter & Gamble Co. with 3.4%, Haleon plc with 2.9%, Abbott Laboratories with 2.4%, Sanofi S.A. with 1.8%, Reckitt Benckiser Group plc with 1.7%, Bayer AG with 1.6%, Church & Dwight Co. Inc. with 1.2%, Nature’s Bounty Co. with 1% and Perrigo Company plc with 0.9%.
The top opportunities in the OTC drug and dietary supplement market segmented by category will arise in the vitamin and dietary supplements segment, which will gain $57.73 billion of global annual sales by 2028. The top opportunities in the OTC drug and dietary supplement market segmented by dosage form will arise in the tablets segment, which will gain $46.76 billion of global annual sales by 2028. The top opportunities in the OTC drug and dietary supplement market segmented by distribution channel will arise in the pharmacies segment, which will gain $60.26 billion of global annual sales by 2028. The OTC drug and dietary supplement market size will gain the most in the USA at $32.63 billion.
Market-trend-based strategies for the OTC drug and dietary supplement market include expansion of production capabilities in dietary supplements and OTC drugs, new over-the-counter option for opioid overdose reversal, launch of natural herb-based supplement for nursing mothers, introduction of OTC drug line for pain and allergy relief, innovation in women's health pharmaceuticals.
Player-adopted strategies in the OTC drug and dietary supplement market include focuses on focus on expanding its business expertise through new product solutions, strengthening its business operations through strategic partnerships, and strengthening its business capabilities through the launch of new products.
To take advantage of the opportunities, the analyst recommends the OTC drug and dietary supplement companies to focus on production expansion for market leadership, focus on expanding access to opioid overdose reversal solutions, focus on developing natural herb-based supplements for nursing mothers, focus on expanding otc drug lines for pain and allergy relief, focus on innovating with otc oral contraceptives, focus on vitamin and dietary supplements segment, focus on online pharmacies, focus on expanding presence in emerging markets, focus on competitive pricing strategies, embrace digital marketing channels, educate consumers through content marketing and focus on targeting aging population effectively.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 OTC Drug and Dietary Supplement Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global OTC Drug and Dietary Supplement Market Segmentation
11 OTC Drug and Dietary Supplement Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 OTC Drug and Dietary Supplement Market, Conclusions and Recommendations
26 Appendix
Executive Summary
OTC Drug And Dietary Supplement Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global OTC drug and dietary supplement market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for OTC drug and dietary supplement? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The OTC drug and dietary supplement market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider OTC drug and dietary supplement market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by category, by dosage form and by distribution channel.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the OTC drug and dietary supplement market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by category, by dosage form and by distribution channel in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for OTC drugs and dietary supplement providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Category: Vitamin And Dietary Supplements; Cough And Cold Dosage Forms; Analgesics; Gastrointestinal Dosage Forms; Skin; Other Categories2) By Dosage Form: Tablets; Hard Capsules; Powders; Ointments; Soft Capsules; Liquids; Other Dosage Forms
3) By Distribution Channel: Pharmacies; Grocery Stores; Vitamin And Health Food Stores; Online Pharmacies
Key Companies Mentioned: Nestlé S.A.; Procter & Gamble Co.; Haleon plc; Abbott Laboratories; Sanofi S.A.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; OTC drug and dietary supplement indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Nestlé S.A.
- Procter & Gamble Co.
- Haleon plc
- Abbott Laboratories
- Sanofi S.A.
- Reckitt Benckiser Group plc
- Bayer AG
- Church & Dwight Co. Inc.
- Nature’s Bounty Co.
- Perrigo Company plc
- PT Darya-Varia Laboratoria Tbk
- Citra Nusa Insan Cemerlang PT
- Sido Muncul
- Tempo Scan Pacific Tbk PT
- Ajinomoto Co. Inc
- Otsuka Pharmaceutical Co., Ltd.
- KOBAYASHI Pharmaceutical Co.,Ltd.
- Blackmores Limited
- Fonterra Co-operative Group Limited
- Dong-A Pharmaceutical Co., Ltd.
- Kolmar Korea
- Il Yang Pharmaceutical
- Pulmuone Health & Living Co Ltd
- Emcure Pharmaceuticals Limited
- GSK plc
- BASF SE
- Glanbia plc
- Perrigo Company plc
- ARKOPHARMA Laboratories Company Limited
- Laboratorios Rubió S.A.
- Fisiopharma S.r.l.
- Juvamine
- Solgar Science
- Oenobiol
- Naturactive
- Puressentiel
- Danone S.A.
- AstraZeneca plc
- LEO Pharma A/S
- Novartis AG
- Omega Pharma Srl
- Farmaderbe
- Sopharma Group
- Orifarm Group A/S
- Polpharma SA
- Zentiva
- Stada Arzneimittel AG
- Krka, d. d.
- Aflofarm
- Herbapol Lublin
- Ropharma
- Dacia Plant
- Hofigal
- Evalar
- JSC Pharmstandard
- Jamieson Wellness Inc.
- Natural Factors
- Organika Health Products Inc.
- Genomma Lab Internacional
- Laboratorios Liomont
- Medix
- Pfizer Inc.
- Johnson & Johnson
- GSK Consumer Healthcare
- Church & Dwight Co., Inc.
- Elea Phoenix
- Laboratorio Elea
- Hypera Pharma
- Laboratorios La Santé
- Laboratorios Saval
- Laboratorio Chile
- Laboratorio Knop
- Laboratorio Franco Colombiano Lafrancol
- Corporación Infarmasa
- Medifarma
- Citrosuco
- Darou Pakhsh Pharmaceutical Manufacturing Co.
- Teva Pharmaceutical Industries Ltd.
- Tabuk Pharmaceuticals Manufacturing Company
- Abdi Ibrahim Pharmaceuticals
- Caspian Tamin Pharmaceutical Company
- Exir Pharmaceutical Company
- Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
- Jamjoom Pharmaceuticals
- Zahravi Pharmaceutical Company
- Alhavi Pharmaceutical Company
- Dexxon Pharmaceutical Active Ingredients
- Aspen Pharmacare Holdings Limited
- Actor Pharma
- Sandoz
- IBN SINA Pharmaceutical
- Egyptian International Pharmaceutical Industries Company (EIPICO)
- EVA Pharma
- Pharco Pharmaceuticals
- Amoun Pharmaceutical Company S.A.E.
- Adcock Ingram
- Solal Technologies
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 324 |
Published | September 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 311 Billion |
Forecasted Market Value ( USD | $ 632.1 Billion |
Compound Annual Growth Rate | 7.4% |
Regions Covered | Global |
No. of Companies Mentioned | 97 |