The global oral OTC analgesics market is projected to expand at a CAGR of 4.61% during the forecast period, 2019 – 2028. The growth of the market is attributed to the increasing demand for topical analgesics.
Analgesics are the counter pain drugs which support in regulating a pain until and unless it is completely eliminated. OTC analgesic drugs are used by people without any need of prescription. Analgesics which do not require doctor’s prescription are classified as OTC analgesics. OTC analgesics are available in brand and generic preparations as tablets, capsules, creams, sprays, and patches. These OTC analgesics constitute three active ingredients namely paracetamol, ibuprofen, and aspirin.
Paracetamol is a most commonly used OTC analgesic. Its analgesic property is similar to that of aspirin and ibuprofen. It does not carry any anti-inflammatory effects. Paracetamol prevents prostaglandin synthesis within the central nervous system. It is the first choice of analgesic for pain management. Common side-effects associated with paracetamol are hypersensitivity, rare cases of blood dyscrasias (including thrombocytopenia and agranulocytosis). Aspirin is another common OTC analgesic. It is analgesic, antipyretic, antiplatelet, and anti-inflammatory. The inhibition of cyclooxygenase results in analgesic effect of aspirin. Incompatible effects of aspirin are epigastric pain, gastrointestinal ulceration, nausea and vomiting, hypersensitivity, and gout.
Increasing demand of topical analgesics, which are available as pain-relieving creams, lotions, rubs, gels, and sprays, has increased the sales of analgesics by 18 percent. According to Kline Non-prescription Drugs US report, increasing geriatric population worldwide, will generate the demand for pain relief products. According to the US Census Bureau, between 2012 and 2050, the United States will experience considerable growth in its older population. Thus, the growth in geriatric population is driving the growth of the global OTC analgesics market.
Additionally, the cost efficiency of OTC analgesics drugs is also responsible for fuelling the growth of the market.