Over-the-counter (OTC) medicines are drugs that are sold without the need for a prescription by registered pharmacists. People commonly reach for OTC pain medications to treat even the slightest physical pain, whether at work or home. OTC pain medications are available in brand and generic formulations as tablets, capsules, creams, ointments, sprays, and patches. Paracetamol is the most commonly used OTC analgesic and it does not have any anti-inflammatory effects. Paracetamol prevents prostaglandin synthesis in the central nervous system (CNS). Acetaminophen has been proposed as the first line of treatment for acute lower back pain.
COVID-19 Impact Analysis
COVID-19 is a life-threatening disease that spread all around the world. World Health Organization (WHO) declared emergency guidelines to control its spread. Governments enforced lockdown in the first half of 2020. During this period, the requirement for over-the-counter drugs showed a significant rise. COVID-19 has shown an adverse effect on patients with chronic diseases. Also, during the COVID-19 outbreak, 6 OTC drugs were approved by the Food and Drug Administration (FDA) to treat mild symptoms. People are taking the medications that work for cold or flu or fever from pharmacies. Hence, the COVID-19 pandemic has positively driven the over-the-counter pain medication market.
Top Impacting Factors
- Over-the-counter pain medication market is expected to grow during the forecast period, as the pain suffering population is increasing in various regions and these medications are easily available in various forms such as topical, spray, lotions, and ointments to relieve pain.
- In addition, many players are coming up with different combinations and packing styles to make the product easy to use, particularly in spray bottles.
- Generic product makers pose as obstacle for the branded players due to price range competitions.
- Growth in prevalence of headache, fever, muscle aches, and inflammation boosts the OTC pain medication market growth.
- Rise in knowledge about drugs among consumers and the economical price of over-the-counter drugs are some other key factors driving the over-the-counter pain medication market.
- However, surge in awareness among users of the adverse effects of misuse of over-the-counter pain medication hinders the growth of the market to some extent.
- Increase in the geriatric population and prevalence of chronic pain-related disorders among the elderly population have boosted sales of OTC pain medications.
Market Trends
New Product Launches to Flourish the Market
- In 2018, Pfizer and GSK collaborated to conduct their broad product line clinical trials under the research and developmental stage.
- In April 2019, Granules India proclaimed that it received U.S. FDA approval for extended-release of acetaminophen tablets to be used for temporary pain relief.
- In June 2019, BioPlus Specialty Pharmacy entered into a partnership to offer pain relievers in non-opioid pain treatment to relieve post-shingles pain, which is a type of neuropathic pain.
Surge in Usage of Acetaminophen drugs
As more people are getting involved in sports activity, more people are suffering from various pains. Key players are focusing to develop more improved product, so the pain relief time and the dose can be decreased. Various research innovations are going on to advance the product and create unique forms of products so that the patients can easily be cured of the pain. Acetaminophen is among the best purchased OTC pain medications and this drug class that holds a 45% share in the revenues of the OTC market. As acetaminophen is believed as a safer pain medication than other pain relievers, its need will continue to remain high in the market in the coming years.
Key Benefits of the Report
- This study presents the analytical depiction of the over-the-counter pain medication along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the over-the-counter pain medication market share.
- The current market is quantitatively analyzed to highlight the over-the-counter pain medication market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed analysis of the over-the-counter pain medication market based on competitive intensity and how the competition is expected to take shape in coming years.
Questions Answered in the Over-The-Counter Pain Medication Report
- Which are the leading players active in the over-the-counter pain medication market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "over-the-counter pain medication "?
- What is "over-the-counter pain medication" market prediction in the future?
- Who are the leading global players in the "over-the-counter pain medication" market?
- What are the current trends and predicted trends?
- What are the key benefits of the "over-the-counter pain medication" market report?
Over-the-Counter Pain Medication Market Report Highlights
| Aspects | Details |
 By Drug Type |
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 By Route of Administration |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Sun Pharmaceutical Industries Ltd, Takeda Pharmaceutical Company Limited, GlaxoSmithKline PLC, Sanofi, Johnson and Johnson, Pfizer, Bayer AG, Boehringer Ingelheim, Novartis, PGT Healthcare |
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