Global Over the Counter (OTC) & Diet Supplementary Market size is projected to be valued $273 Billion by 2024; with a CAGR of 10.2% from 2017 to 2025. Over the counter (OTC) drugs are those drugs which can be picked by consumer without the prescription of doctors. Dietary supplements are regulated like food products and it is used for health purpose. The increasing prevalence of self-medication for the treatment of primary health conditions and the growing demand for dietary supplements in daily consumption have provided impetus to the growth of the OTC drugs and dietary supplement market.
Global over the counter drug & diet supplement market is currently at its blooming stage attributed to the factors such as increase in number of adults preferring to buy drugs for minor diseases, without consulting the doctor. Moreover, advancement of technology have enabled consumer to get consultation through internet and easy availability of medical data on internet have also fueled the growth of market. However, high regulation and side effects due to high dosage are some of the factors which are restraining the growth of OTC drugs & diet supplementary market.
The global OTC drugs and diet supplement market is segmented on the basis of type and geography. On the basis of type the market is segmented into analgesics and pain relievers, dermatological products, cough, cold, and flu products, vitamin supplements, mineral supplements, ophthalmic products (dry eye, glaucoma, allergic & infective drugs, and other treatments), and other types (digestive products, sleep aids & weight loss products).
Based on geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada and Mexico whereas Europe consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East and Africa.
The key market players include Alkem Laboratories Limited, Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Sun Pharma, Bayer AG, Merck KGaA, Novartis AG, Johnson & Johnson Inc, GlaxoSmithKline Plc, and Allergan, Plc., among others.