The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global OTC drug and dietary supplement market is expected to grow from $291.13 billion in 2022 to $310.97 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The OTC drug and dietary supplement market is expected to reach $404.68 billion in 2027 at a CAGR of 6.8%.

North America held the largest OTC drug and dietary supplement market share.

OTC Drug And Dietary Supplement Market Driver
A rise in pharma R&D expenditure is expected to boost the OTC drug and dietary supplement market going forward. R&D investment can be defined as the expenses undertaken by a company for developing, designing, and enhancing its offerings. Increased expenditure can boost innovation and productivity in designing and formulating OTC, and dietary supplements. For instance, according to a report published by the European Federation of Pharmaceutical Industries and Associations, a Belgium-based pharmaceuticals-based trade association, in 2021 European health industries invested about 41.5 billion euros ($44.47 billion) for R&D expenditure, an increase compared to 39.65 billion euros ($42.49 billion) in 2020. Therefore, a rise in pharma R&D expenditure is driving the OTC drug and dietary supplement market.

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Prominent OTC Drug And Dietary Supplement Market Trend
Product innovation is a key trend gaining popularity in the OTC drug and dietary supplement market. Major companies operating in the OTC drug and dietary supplement market are developing innovative products to strengthen their position in the market. For instance, in July 2022, Dr. Reddy’s Laboratories Ltd., an India-based pharmaceutical industry, launched over-the-counter (OTC) Fexofenadine HCl 180 mg and Pseudoephedrine HCl 240 mg extended-release OTC tablets. It is an over-the-counter oral antihistamine and nasal decongestant for the temporary relief of nasal and sinus congestion due to colds or allergies, which is an important addition to the upper respiratory portfolio of OTC products.

OTC Drug And Dietary Supplement Market Prominent Players
Major players in the OTC drug and dietary supplement market are Pfizer Inc., Johnson & Johnson Ltd., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A, AstraZeneca plc, Abbott Laboratories Inc, GSK plc, Gilead Sciences Inc., Reckitt Benckiser Plc., Teva Pharmaceutical Industries Ltd., Alcon Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Church & Dwight Co Inc, Perrigo Company plc, Dr. Reddy’s Laboratories Ltd., Cipla Limited, Glenmark Pharmaceuticals Limited, Alkem Laboratories Ltd, Nutraceutical International Corporation, Procter & Gamble Health Limited, Reese Pharmaceutical Company, UPM Pharmaceuticals Inc, Gemini Pharmaceuticals Inc., Pharmavite LLC, Now Health Group Inc., and Alfresa Pharma Corporation.

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Key OTC Drug And Dietary Supplement Market Segments
The global OTC drug and dietary supplement market is segmented –
1) By Category: Vitamin And Dietary Supplements, Cough And Cold Products, Analgesics, Gastrointestinal Products, Sleep Aids, Otic Products, Wart Removers, Mouth Care Products, Ophthalmic Products, Other Categories
2) By Dosage Form: Tablets, Hard Capsules, Powders, Ointments, Soft Capsules, Liquids, Other Dosage Forms
3) By Application: Pharmacies, Grocery Stores, Vitamin And Health Food Stores, Online Pharmacies

The OTC Drug And Dietary Supplement Global Market Report 2023  provides a comprehensive overview on the OTC drug and dietary supplement market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the OTC drug and dietary supplement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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