Market Overview:
The global OTC pain medications market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of chronic pain, rising geriatric population, and growing demand for convenient and easy-to-use pain relief products. The acetaminophen segment is expected to dominate the global OTC pain medications market in terms of revenue during the forecast period. This segment is projected to grow at a CAGR of 5.8% from 2018 to 2030 due to its widespread use as a first-line treatment for milder forms of pain and its availability over the counter without any prescription requirement. In terms of application, hospital pharmacies are expected to account for the largest share of revenue in the global OTC pain medications market during the forecast period.
Product Definition:
OTC pain medications are over the counter drugs that are used to relieve pain. They include ibuprofen, acetaminophen, and aspirin. These drugs are important because they can help people to manage their pain without having to see a doctor.
Acetaminophen:
Acetaminophen, also known as paracetamol, is an over-the-counter (OTC) pain medication used to treat the symptoms of colds and flu. It is commonly sold in the form of 500 mg tablets and can be purchased at pharmacies without a prescription. Acetaminophen has become one of the most widely used OTC medications globally due to its safety profile coupled with low toxicity levels.
Nonsteroidal Anti-Inflammatory Drugs (NSAIDs):
Nonsteroidal anti-inflammatory drugs (NSAIDs) are used to reduce the inflammation associated with pain. The most commonly used NSAIDs include ibuprofen, aspirin, and naproxen sodium. These medications act by blocking some of the enzymes that cause inflammation. As a result, they reduce swelling and redness of skin as well as minimize joint pain.
Application Insights:
The retail stores segment held the largest share of over 40.0% in 2017. The growth can be attributed to the easy availability of OTC drugs in retail stores as compared to hospitals and pharmacies. Moreover, consumers prefer purchasing medicines from store shelves where they can visually inspect the product before buying it, which is a practice followed by majority of people worldwide.
Drugstores are expected to emerge as one of the fastest-growing segments owing to increasing penetration and awareness about online pharmacy among different age groups across various regions including North America and Europe coupled with rising incidences associated with chronic pain conditions such as arthritis, headache, lower back pain etc., which has resulted in increased demand for OTC analgesic drugs among drugstore owners for selling over counter (OTC) medicines at their respective stores.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of key players, high patient awareness levels coupled with easy access to medicines. The region is expected to maintain its dominance throughout the forecast period owing to factors such as favorable reimbursement policies and increasing geriatric population prone to chronic pain conditions.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing rising healthcare expenditure, improving infrastructure and growing patient awareness regarding treatment options for various diseases including pain ones. Moreover, government initiatives encouraging generic competition are also expected favorably impact overall market development in APAC countries like India & China thereby driving regional growth over the next eight years (2030).
Key players operating in this space include but are not limited comany ATC code: N02 Acetaminophen; Abbott Laboratories; AbbVie Inc.; Actavis Pharma Inc.
Growth Factors:
- Increasing incidence of chronic pain: The global prevalence of chronic pain is estimated to be around 20%, and it is projected to increase to 30% by 2030. This will create a large pool of patients who will require treatment for their chronic pain, thereby driving the demand for OTC pain medications.
- Growing awareness about the benefits of OTC analgesics: There is a growing awareness among consumers about the benefits of using over-the-counter (OTC) analgesics for relief from various types of mild to moderate pain conditions. This is likely to boost the demand for these products in the coming years.
- Rising geriatric population: The global geriatric population is expected to grow at a rapid pace in the next few years, which will lead to an increase in cases of age-related health conditions such as arthritis and other forms of chronic pain. This will create a high demand for OTC analgesics products among this population segment, thereby driving market growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
OTC Pain Medications Market Research Report
By Type
Acetaminophen, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
By Application
Hospital Pharmacies, Drug Stores, Retail Stores, E-Commerce
By Companies
GlaxoSmithKline, Merck, Pfizer, Novartis, Sanofi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
158
Number of Tables & Figures
111
Customization Available
Yes, the report can be customized as per your need.
Global OTC Pain Medications Market Report Segments:
The global OTC Pain Medications market is segmented on the basis of:
Types
Acetaminophen, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital Pharmacies, Drug Stores, Retail Stores, E-Commerce
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GlaxoSmithKline
- Merck
- Pfizer
- Novartis
- Sanofi
Highlights of The OTC Pain Medications Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Acetaminophen
- Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
- By Application:
- Hospital Pharmacies
- Drug Stores
- Retail Stores
- E-Commerce
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the OTC Pain Medications Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
OTC pain medications are medications that are not typically prescribed by a doctor, but can be bought over the counter. These medications include ibuprofen, acetaminophen (Tylenol), and naproxen (Aleve).
Some of the key players operating in the otc pain medications market are GlaxoSmithKline, Merck, Pfizer, Novartis, Sanofi.
The otc pain medications market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 OTC Pain Medications Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 OTC Pain Medications Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 OTC Pain Medications Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the OTC Pain Medications Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global OTC Pain Medications Market Size & Forecast, 2020-2028 4.5.1 OTC Pain Medications Market Size and Y-o-Y Growth 4.5.2 OTC Pain Medications Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Acetaminophen
5.2.2 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital Pharmacies
6.2.2 Drug Stores
6.2.3 Retail Stores
6.2.4 E-Commerce
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global OTC Pain Medications Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 OTC Pain Medications Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Acetaminophen
9.6.2 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital Pharmacies
9.10.2 Drug Stores
9.10.3 Retail Stores
9.10.4 E-Commerce
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Acetaminophen
10.6.2 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital Pharmacies
10.10.2 Drug Stores
10.10.3 Retail Stores
10.10.4 E-Commerce
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Acetaminophen
11.6.2 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital Pharmacies
11.10.2 Drug Stores
11.10.3 Retail Stores
11.10.4 E-Commerce
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Acetaminophen
12.6.2 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital Pharmacies
12.10.2 Drug Stores
12.10.3 Retail Stores
12.10.4 E-Commerce
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Acetaminophen
13.6.2 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital Pharmacies
13.10.2 Drug Stores
13.10.3 Retail Stores
13.10.4 E-Commerce
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 OTC Pain Medications Market: Competitive Dashboard
14.2 Global OTC Pain Medications Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GlaxoSmithKline
14.3.2 Merck
14.3.3 Pfizer
14.3.4 Novartis
14.3.5 Sanofi