The over-the-counter drugs market is projected to observe substantial growth through the forthcoming timeframe owing to a rising geriatric population pool suffering from frequent pains, arthritis and cardiovascular disorders, pharmaceutical industry expansion, and increasing R&D expenditure. Over-the-counter medicine is also known as nonprescription medicine or OTC, which are referred as drugs that can be bought without a prescription.

These are known to be safe as well as effective if one follows proper directions given on the label and as directed by the medical professional. Over-the-counter drugs relieve itches, pains, and aches. While some are known to cure or prevent diseases such as athlete’s foot and tooth decay. Others aid in managing recurring issues such as allergies and migraines.

These medications are generally located on shelves in grocery stores, pharmacies as well as in gas stations. Meanwhile, some mouthwashes, toothpastes, and some kinds of first aid creams, wart removers, eyedrops and ointments that comprise of antibiotics as well as dandruff shampoos are all categorized under OTC drugs.

In the United States, there are nearly 80 classes of OTC drugs, ranging from weight loss products to acne medications. The OTC medications review is mainly handled by the United States Food and Drug Administration’s (FDA) Office of Drug Evaluation, Division of Drug Information (CDER) as well as the Nonprescription Drug Advisory Committee. These teams assess and review labels and ingredients present in the over-the-counter drugs. A monograph for OTC drug is established for each group of products. The monograph comprises of acceptable ingredients, labeling, doses, as well as formulations.

The over-the-counter drugs market is bifurcated in terms of product and regional landscape.

In terms of product, the overall OTC drugs market is categorized into ophthalmic, sleeping aids, minerals & vitamins, skin, gastrointestinal, weight loss, cold, cough & flu, analgesics, and others. Among these, analgesics segment will witness more than 5.0% CAGR over the forthcoming time period. Factors such as rising geriatric population pool suffering from frequent pains, arthritis and cardiovascular disorders among others will drive customer preference thereby fueling the segmental growth.

At present, there are around four over-the-counter oral analgesics available in the U.S., namely naproxen, ibuprofen, aspirin, and acetaminophen. When consumed, these over-the-counter analgesics present moderately effective, safe and cost-effective treatments for moderate to mild pain, fever, and inflammation.

From a regional reference frame, Latin America OTC drugs market will see a CAGR of around 5.5% over the forthcoming time period. This estimated growth is accredited to growing pharmaceutical industry, penetration of companies and increasing research and development expenditure.