Dublin, Sept. 27, 2024 (GLOBE NEWSWIRE) -- The "OTC Drug & Dietary Supplement Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The global OTC drug & dietary supplement market is expected to reach an estimated $256.13 billion by 2030 with a CAGR of 5.1% from 2024 to 2030. The major drivers for this market are the increasing awareness concerning general health issues and rising demand for personalized medicine for treating minor ailments.
The future of the global OTC drug & dietary supplement market looks promising with opportunities in the tablets, hard capsules, powders, ointments, soft capsules, and liquids markets.
Report Features
- Market Size Estimates: OTC drug & dietary supplement market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: OTC drug & dietary supplement market size by various segments, such as by dosage form, distribution channel, product, category, and region in terms of value ($B).
- Regional Analysis: OTC drug & dietary supplement market breakdown by North America, Europe, Asia-Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different dosage forms, distribution channels, products, categories, and regions for the OTC drug & dietary supplement market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the OTC drug & dietary supplement market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Emerging Trends in the OTC Drug & Dietary Supplement Market
The OTC drug and dietary supplement market is undergoing significant changes due to new trends reflecting evolving consumer preferences and technological advancements. These trends will shape the future of this industry, drive product development, influence market dynamics and affect consumer behavior. The following are some of the key emerging trends in the OTC drug and dietary supplement market.
- Health and Wellness Focus
- Personalized Supplements
- E-Commerce Growth
The industry landscape in the OTC drug and dietary supplement market is changing due to emerging trends such as health and wellness, personalized supplements, regulatory changes, e-commerce growth, sustainability. This has led to a more diverse and competitive market environment. These trends are driving innovation, changing consumer behaviors and influencing market dynamics.
Recent Developments in the OTC Drug & Dietary Supplement Market
The OTC drug and dietary supplement market has seen a number of key developments which reflect changing consumer preferences, technological advances, and regulatory changes. These developments are shaping growth in the sector as well as influencing market dynamics. Below is an overview of recent OTC drug and dietary supplement market key developments.
- Digital health platforms expansion
- Increased scrutiny from regulators
- Growth in functional foods
- Emergence of new ingredients
- Expansion into emerging markets
OTC drug and dietary supplement market such as the expansion of digital health platforms, increased regulatory scrutiny, growth in functional foods, emergence of new ingredients and expansion into emerging markets are shaping the industry landscape. The above changes are affecting market development and feeding into product offering decisions that impact competition.
Strategic Growth Opportunities for OTC Drug & Dietary Supplement Market
The robust growth being experienced in the OTC drug and dietary supplement market is driven by changing consumer preferences and developments in health and wellness. Numerous key strategic growth opportunities are emerging across a range of applications including immune health, cognitive function, weight management, digestive health, and sports nutrition. Each of these areas presents unique avenues that companies can use to reinvent themselves or expand their market presence. Hence understanding these opportunities can enable firms to capture new markets, increase sales of their products and also get a market for their products as people become more conscious about their health.
OTC Drug & Dietary Supplement Market Drivers and Challenges
The OTC drug and dietary supplement industry is influenced by various technological, economic, and regulatory drivers that determine the path of its growth. Among the major factors that influence the market are the advancements in product innovation, rising health consciousness, increased demand for preventive care by consumers, expansion of e-commerce platforms, and supportive regulations. However, there are also challenges such as complex compliance requirements, saturated markets, and concerns regarding product safety and efficacy. To successfully navigate through a competitive landscape and take advantage of emerging opportunities it is important to understand these drivers and challenges.
List of OTC Drug & Dietary Supplement Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies OTC drug & dietary supplement companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the OTC drug & dietary supplement companies profiled in this report include:
- Johnson & Johnson
- Pfizer
- Sanofi
- Roche
- AstraZeneca
- GlaxoSmithKline
- Novartis
- Merck & Co.
- Bayer Healthcare
- Gilead Sciences
OTC Drug & Dietary Supplement by Segment
The study includes a forecast for the global OTC drug & dietary supplement by dosage form, distribution channel, product, category, and region.
By Dosage Form [Analysis by Value from 2018 to 2030]:
- Tablets
- Hard Capsules
- Powders
- Ointments
- Soft Capsules
- Liquids
- Others
Tablets will remain the largest segment.
By Distribution Channel [Analysis by Value from 2018 to 2030]:
- Pharmacies
- Grocery Stores
- Vitamin & Health Food Stores
- Online Pharmacy
- Others
By Product [Analysis by Value from 2018 to 2030]:
- Branded Drugs
- Generic Drugs
Generic drugs is expected to witness the higher growth over the forecast period.
By Category [Analysis by Value from 2018 to 2030]:
- Vitamin & Dietary Supplements
- Cough & Cold Products
- Analgesics
- Gastrointestinal Products
- Sleep Aids
- Otic Products
- Wart Removers
- Mouth Care Products
- Ophthalmic Products
- Others
By Region [Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia-Pacific
- The Rest of the World
North America is expected to witness highest growth over the forecast period.
For more information about this report visit https://www.researchandmarkets.com/r/gzxrjq
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