Market Overview:
Over the Counter (OTC) Analgesics Market Size Was Valued at USD 29.34 Billion in 2023, and is Projected to Reach USD 41.4 Billion by 2032, Growing at a CAGR of 3.9% From 2024-2032.
Over-the-counter (OTC) Analgesics are specifics that are available for purchase without a prescription and are used to relieve pain and reduce fever. These analgesics are generally used for the temporary relief of mild to moderate pain associated with conditions, similar to headaches, muscle pangs, menstrual cramps, backaches, and minor arthritis pain. The main types of OTC anesthetics include- Nonsteroidal anti-inflammatory medicines (NSAIDs) Examples include ibuprofen, naproxen sodium, and aspirin. NSAIDs work by reducing inflammation, which helps relieve pain associated with conditions like muscle strains and common pain. Acetaminophen Also known as paracetamol, acetaminophen isn't an NSAID but works by reducing pain and fever. It's frequently used for headaches, minor pangs, and reducing fever
Top Key Players for Over the Counter (OTC) Analgesics Market:
Johnson & Johnson (US), Bayer AG (Germany), Boehringer Ingelheim International GmbH (Germany), Pfizer Inc. (US), Reckitt Benckiser Group PLC (UK), Sanofi SA (France), Sun Pharmaceutical Industries Ltd (India), Dr. Reddy's Laboratories Ltd (India), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd (Israel), Glenmark Pharmaceuticals Ltd. (India), Alkem Laboratories Limited (India), Lupin Limited (India), Sandoz International GmbH (Germany), and Other Major Players
Market Dynamics and Factors for Over the Counter (OTC) Analgesics Market:
Drivers:
The Increasing Prevalence of Various Diseases
One of the key factors expected to augment the growth of the global over-the-counter (OTC) analgesics market during the forecast period is the rise in the prevalence of chronic diseases around the world. For instance, the increase in the prevalence of chronic diseases among the global population and comorbidities associated with the diseases are expected to increase the demand for OTC analgesics. Pregabalin (Lyrica) is approved for the treatment of pain due to generalized diabetic peripheral neuropathy and is considered a first-line agent for the management of painful diabetic neuropathy. Pregabalin is an analgesic used to treat neuropathic pain, epilepsy, fibromyalgia, opioid withdrawal, restless leg syndrome, and generalized anxiety disorder.
Opportunities:
Increase In The Consumption Of OTC Analgesics
An increase in the consumption of OTC analgesics is expected to offer significant growth opportunities for players in the global over-the-counter (OTC) analgesics market. Analgesics help relieve different types of pain, from headaches to injuries to arthritis. In March 2020, the U.S. Food and Drug Administration (FDA) approved the first OTC pain reliever with a fixed dose of ibuprofen and acetaminophen in the same formulation. The combination of two non-opioid analgesic medicines used to treat pain and inflammation are available over-the-counter (OTC), according to the Food and Drug Administration.
Segmentation Analysis of the Over the Counter (OTC) Analgesics Market:
- By Type of Drug, Non-steroidal anti-inflammatory medicines (NSAID) are members of a remedial medicine class that reduces pain, decreases inflammation, decreases fever, and prevents blood clots. They are frequently used to relieve symptoms of headaches, painful ages, sprains and strains, and flu coronavirus conditions similar to arthritis that can beget long-term pain.
- By Form, a capsule is a solid pharmaceutical dosage form that contains medicinal substances in a shell made of gelatin or other suitable materials. The shell can hold active ingredients in the form of powders, granules, or pellets. Capsules are designed to be swallowed and dissolved in the stomach to release the medication for absorption.
Regional Analysis of the Over the Counter (OTC) Analgesics Market:
North America is anticipated to have a significant impact on the market thanks to the growing frequency of musculoskeletal conditions and sports-related injuries, coupled with the relinquishment of tone-drug to relieve the symptoms and an increase in blessing and launch of OTC medicines. These factors are anticipated to drive the growth of the request in the region. For instance, according to the report published by the National High School Sports-Affiliated Injury Surveillance Study in August 2022, 4,998 injuries were reported in the academic time2021/22 in the United States, with an injury prevalence of 2.02 injuries per 1,000 athletes exposed to 20 sports.
Key Industry Development:
- In January 2023, Medterra, a leader in wellness solutions, announced the launch of its newest product, Natural Pain Relief capsules. A cutting-edge, natural alternative to traditional pain relievers, Medterra Natural Pain Relief is a clinically proven, plant-based pain reliever formulated to alleviate muscle pain, joint stiffness, and inflammation without the negative side effects often associated with over the counter (OTC) options.
