Over-the-Counter (OTC) Pain Medication Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4433
Over-the-Counter Pain Medication Market is set to witness notable growth through 2027, on grounds of increasing instances of lower back pain, headache, neck pain, migraine, and other acute pain conditions, across various regions. According to Migraine Research Foundation, migraine affects nearly 39 million men, women, and children in the United States alone and approximately 1 billion people worldwide.
OTC pain medications are generic approved products from the regulatory authority. This allows the patients to buy them directly without any prescription and get relief from discomfort. These medications are anti-inflammatory which can be directly applied to the pain area.
Based on the drug type, the OTC pain medication market is fragmented into acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs). Amongst these, the acetaminophen segment is projected to record considerable gains over 2021-2027. This can be ascribed to the product’s potential benefits including the ability to relieve headache and fever, and other common pains and aches. Acetaminophen is also proven effective for consumption by children. Normally, the drug is being largely recommended for arthritis pains as it has fewer side effects than other pain medications.
In terms of the route of administration, oral route of over-the-counter pain medication would depict significant growth pace throughout the stipulated time frame. The growth is ascribed to the advantages experienced by patients including, compatibility, safety, convenience, and affordability. In fact, oral OTC pain medications are available in different forms like tablets, chewable, capsules, and liquids, which are affordable and easily available. These factors are touted to increase the users towards oral consumption of medications, thus leading to increased the segment growth in the years to come.
Gel-based over-the-counter pain medications market is expected to foresee significant growth globally owing to the product’s rising demand for pain relief management. Faster pain relief for muscle pains, high affordability, and easy application are some of the key factors responsible for the segment expansion. Additionally, an upsurge in manufacturing pain relief gels by key players would further bolster the market expansion in the years to come.
Considering the regional landscape, Asia Pacific OTC pain medication market is set to display stellar growth in the near future. Surging healthcare spending, rising population in the prominent countries, increasing practices of self-medication, and unhealthy dietary habits are likely to drive the regional progression. The APAC continent is also home to some of the leading market players, and startups.
Leading companies operating in the global market are Johnson & Johnson, Pfizer Inc., GlaxoSmithKline plc (GSK), Sanofi S.A., and Bayer AG amongst others. These market vendors are leaving no scope for providing better healthcare to patients suffering from moderate to severe pain, by introducing novel innovations in the space.
Citing an instance, GSK Consumer Healthcare, had in 2020 launched a new OTC oral pain relief- Advil Dual Action, a formulation that combines two powerful pain fighting ingredients, acetaminophen and ibuprofen.
Likewise, in June 2021, the FDA announced approval to the first over-the-counter nasal spray antihistamine for allergies by Bayers Healthcare.
COVID-19 impact on OTC pain medication market growth
The market for OTC pain medication is estimated to grow profusely during coronavirus pandemic era, owing to the fact that people have been taking up medications without prescription to seek instant relief from pain. This allows them to stay away from hospitals in times of increasing coronavirus cases.
Over-The-Counter (OTC) Pain Medication Market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Kilotons from 2016 to 2027, for the following segments:
Market, By Drug Type
- Nonsteroidal anti-inflammatory drugs (NSAIDs)
Market, By Route of Administration
Market, By Dosage Form
Market, By Distribution Channel
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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