It is predicted that by the end of 2028, the global Over-the-Counter Pain Medication Market will be worth US$ 27.7 billion. World over-the-counter pain medication consumption presently generates US$ 21.8 billion in revenue annually. From 2022 to 2028, there will be an expected increase in demand for over-the-counter painkillers of 4.1% CAGR.
Many consumers are making a shift to generic drugs to reduce total spending on non-prescription or OTC pain medication. Various governing bodies, such as the United States Food and Drug Administration (FDA), have implemented stringent regulations and labeling rules to ensure the safety and effectiveness of OTC pain medications.
Leading players in the OTC pain medication market are collaborating with generic drug-makers to capitalize on the trend of consumer inclination towards generic versions of branded OTC pain medications, finds FMI.
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Key Companies Profiled
- Pfirzer Inc.
- Johnson & Johnson Services Inc.
- Bayer AG
- Sanofi S.A.
- GlaxoSmithKline plc.
- Bristo-Meyers Squibb and Company
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Merck & o.
- Cardinal Health Inc.
The FMI study features valuable and actionable insights obtained through thorough research on OTC pain medication market. Some of the insights mentioned in the study are,
- Growing geriatric population and prevalence of chronic pain-related disorders among the elderly population is bolstering sales of OTC pain medications.
- Over 20% of the adult population of the world is already suffering from pain-related disorders and new cased of pain-related problems are reported by over 10% of the global population, which is increasing significantly every years. This is providing an impetus to growth of the OTC pain medication market.
- Increasing awareness about the side effects of pain killers, such as stomach ulcers and gastrointestinal problems, may hamper the OTC pain medication market growth.
- Developed countries will dominate the OTC pain medications market with more than half the revenue share of the market. However, developing countries in Southeast Asia will witness fastest growth in the OTC pain medication market with rapidly developing pharmaceuticals and healthcare sector in the region.
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Key Segments of Over-the-Counter Pain Medication Industry Survey
Over-the-Counter Pain Medication Market by Drug Class:
- Non-steroidal Anti-inflammatory Drugs (NSAIDs)
- Local Anaesthetics
- Acetaminophen
Over-the-Counter Pain Medication Market by Route of Administration:
- Oral Over-the-Counter Pain Medication
- Topical Over-the-Counter Pain Medication
- Others
Over-the-Counter Pain Medication Market by Dosage Form:
- Over-the-Counter Pain Medication Tablets
- Over-the-Counter Pain Medication Capsules
- Over-the-Counter Pain Medication Creams
- Over-the-Counter Pain Medication Gels
- Others
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Over-the-Mounter Pain Medication Market by Distribution Channel:
- Over-the-Counter Pain Medication Sold at Hospital Pharmacies
- Over-the-Counter Pain Medication Sold at Drug Stores
- Over-the-Counter Pain Medication Sold at Retail Stores
- Over-the-Counter Pain Medication Sold through e-Commerce
- Others
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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