According to the report “United States OTC Drugs Market” published by Market Data Forecast, the global market is projected to reach USD 31.752 Billion by 2021, at a CAGR of 6.2% from 2016 to 2021.
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Over the counter (OTC) drugs are the drugs that can be bought without a doctor`s prescription from pharmacies and local stores. In United States market OTC medicines provides 24/7 access of drugs to healthcare options for busy families and caregivers. Approximately there are around 2.9 billion retail trips annually to purchase OTC products. To obtain access these OTC drugs there are about 54,000 pharmacies, and more than 7,50,000 retail outlets in United States. On average, United States households spend about $338 per year on Over the Counter Drugs.
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United States OTC drugs market is driven by factors such as active approach towards ailments and cultural shift among people are the two major factors driving the market of United States OTC drugs market. While drug abuse is the major factor hindering the market growth.
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1) By Formulation Type
2) By Product Type
•Cough, Cold and Flu Drugs
•Smoking Cessation Aids
•Vitamins and Minerals
•Weight Loss/Diet Drugs
•Others (Ear Drops & Diuretics)
3) By Distribution Channels
•Pharmacies / Drug stores,
•Convenience Stores and
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Some of the major companies dominating the market are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Boehringer Ingelheim, Sanofi, Takeda and PGT Healthcare
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