Over the Counter (OTC) Drugs Market Analysis

Over the Counter Drugs Market Analysis

Over the counter drugs market from gastrointestinal products is estimated to surpass USD 25 billion by 2032. Rising incidences of gastrointestinal disorders due to unhealing lifestyles and dietary habits will pave the way for OTC drugs. Over the last couple of decades, the number of digestive cancer cases has increased by 26%, whereas mortality has escalated by 17%.  Heartburn, constipation, nausea, and other conditions caused by current-day lifestyle choices are accelerating the demand for gastrointestinal products such as laxatives, and antacids.
 

Retail pharmacy segment held over 43% share of the OTC drugs market in 2022. Retail pharmacies are available in significant numbers across the globe. These drug stores are the primary centers that meet the healthcare and pharmaceutical needs of people at an affordable cost. Retail pharmacies enable access to a wide variety of OTC as well as prescription drugs along with free consultation. With increasing efforts to boost the accessibility and infrastructure of healthcare, several countries are investing in retail pharmacies. Additionally, a rise in collaborations between healthcare entities will proliferate industry progress.
 

Asia Pacific over the counter drugs market is poised to reach over USD 108 billion by 2032. Increasing demand for non-prescription drugs to avoid hospital visits will positively impact the industry growth in APAC. Countries such as India, Japan, and China have emerged as potential landscapes promising medical tourism over the last few years. India is being recognized as a robust world pharmacy sphere with substantial investments in healthcare infrastructure and a rising number of drug stores across the country.