Over The Counter (OTC) Analgesics Market to grow by USD 6.52 billion from 2022 to 2027, North America accounts for 42% of market growth- Technavio

17 Jan 2024
www.prnewswire.com
NEW YORK, Jan. 17, 2024 /PRNewswire/ -- The
over-the-counter (OTC) analgesics market is expected to grow by
USD 6.52 billion from 2022 to 2027. In addition, the momentum of the market will progress at a
CAGR of 4.74% during the forecast period, according to Technavio Research. The market is segmented by type (internal and external), distribution channel (offline and online), and geography (North America, Europe, Asia, and Rest of World (ROW)).
North America is estimated to contribute
42% to the growth of the global market during the forecast period.  The growth of the North American OTC analgesics market is notably driven by several key factors, including a rise in healthcare expenditure, a high prevalence of pain-related conditions and arthritis, the robust presence of vendors within the region, and supportive government policies.
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Over The Counter (OTC) Analgesics Market to grow by USD 6.52 billion from 2022 to 2027, North America accounts for 42% of market growth- Technavio
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Source: PRNewswire
Technavio has announced its latest market research report titled Global Over the Counter (OTC) Analgesics Market 2023-2027
This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read the Free PDF Sample Report
Company Profile:
Bayer AG: The company offers over the counter analgesics used for chronic pain and migraine.
To gain access to more company profiles available with Technavio, buy the report!
Over The Counter (OTC) Analgesics Market: Segmentation Analysis
By Segment -
The market share growth by the
internal segment is significant during the forecast period. Internal analgesics primarily serve the purpose of internal use and can be administered orally in the form of pills and liquids or inserted rectally in suppository form.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Over The Counter (OTC) Analgesics Market: Driver & Trend:
Growing aging population globally
Increasing prevalence of pain-related conditions
Growing number of mergers and acquisitions (M&A) activities
The growing aging population across the world drives the market growth. The global demographic landscape is undergoing a noteworthy transformation, primarily driven by the growing aging population, which is a significant contributor to market growth.
The Over-the-Counter (OTC) Analgesics Market faces the challenge of balancing consumer healthcare needs with safety and side effects, particularly concerning Nonsteroidal Anti-Inflammatory Drugs (NSAIDs) like Ibuprofen, Naproxen, and Aspirin, as well as Acetaminophen (Paracetamol). Innovations in product forms such as gel capsules, effervescent tablets, and topical analgesics, including pain relief creams, offer varied options for pain management, from migraine relief to menstrual and muscle pain relief, and solutions for arthritis pain and fever reducers. However, the rise in self-medication trends, influenced by consumer preferences and pain management education, intensifies the need for a stringent regulatory framework. This includes overseeing the prescription to OTC switch and monitoring analgesic combinations. The market also sees a shift towards herbal and natural remedies, challenging traditional OTC analgesic brands. Adult analgesics and pediatric pain relievers must adapt to these shifts. Moreover, the expansion of distribution channels from drugstore chains to online pharmacies requires innovative packaging solutions and accurate market forecasting. This dynamic market landscape demands a balance between meeting consumer health needs and ensuring responsible use of OTC analgesics.
Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.
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What are the key data covered in this over the counter (OTC) analgesics market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the over the counter (OTC) analgesics market between 2022 and 2027.
Precise estimation of the over the counter (OTC) analgesics market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the over the counter (OTC) analgesics market  across North America, Europe, Asia, and ROW
A thorough analysis of the market's competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of over the counter (OTC) analgesics market players.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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