Global OTC Nutrition Products Market

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  • Type: Common Disease Area
  • Published : February 2021
  • Region: Worldwide
  • Country: Other
  • Report ID : 153

  • Format: PPT, PDF

Global Over the Counter (OTC) Nutrition Products Market: Segmented by Category (Vitamin and Dietary Supplements, Cough & Cold Products, Analgesics, Gastrointestinal Products, Sleep Aids, OTC Products, Wart Removers, Mouth Care Products, Ophthalmic Products, Botanicals, Antacids, Smoking Cessation Products, Feminine Care, and Others), Dosage Form and Distribution Channel (Pharmacies, Grocery Stores, Vitamin and Health Food Stores, Online Pharmacies, and Others) – Opportunity Analysis and Industry Forecast, 2019-2028

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Report Overview

The global  OTC drug and dietary supplement market size stood at around USD 293.2 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period

The global over-the-counter drugs & dietary supplements market is driven by growth in awareness related to general health concerns and advancements in the healthcare and pharmaceutical industries. In addition, a growing trend among individuals to select OTC drugs for minor diseases supplements the market growth. Furthermore, stringent regulations by the FDA related to the safety and efficacy of OTC drugs hamper the market growth

Market Growth Drivers

The health and fitness and wellness efforts of developed and developing countries are growing globally now aware. Supervision in the global healthcare system is becoming a primary public resource. Many countries around the world have accepted self-medicines as an important part of primary health care. The use of medicines and dietary supplements includes self-care. In numerous countries, it has been an old practice to use traditional remedies and food supplements. In self-drug practice, the use of natural elements like herbal resources and animal resources is common. Due to their availability, durability, safety, and efficacy, modern medicines with allopathic or western self-care products are becoming convenient. Allopathic drugs or pharmaceuticals are highly regulated and are only available to pharmacies under registered pharmacists before purchase and prescription

Growing demand for health and wellness supplements: The growing preference for healthy living and the growing awareness of dietary supplements among people have a positive impact on market growth. Creating business opportunities for market expansion is the growing demand for Nutraceutical products. Also, the growth of plant supplements will probably open new market horizons. Other drivers of market growth are the advent of sports nutrition and the growth in medical nutrition

 

1. Global OTC Nutrition Products Market Overview……………………………………………..
A. Market Size
2. Market Growth Drivers……………………………………………………..……………………………….
A. Improvement in Lifestyle and Age-Related Diseases
B. Rise in Self-Directed Consumer
C. Growing Awareness Regarding General Health Concerns and Advancements in Healthcare Industry
3. Five Force Analysis.………………………………………………………………………………………….…
A. Threat of New Entrants
B. Bargaining Power of Buyers/Consumers
C. Bargaining Power of Suppliers
D. Threat of Substitute Products
E. Intensity of Competitive Rivalry
4. OTC Nutrition Products Market Segmentation……………..………………………………..
A. By Form
I. Tablets
II. Capsules
III. Powders
IV. Liquids
B. By Distribution Channel
I. Pharmacies
II. Supermarket
III. Others
C. By Geography
I. North America Market Analysis
II. Europe Market Analysis
III. Asia-Pacific Market Analysis
IV. Latin America, Middle-East and Africa Market Analysis
5. OTC Nutrition Major Products Market Share…………………………………………………..
A. Market Analysis, Insights and Forecast to 2028
6. Competitive Landscape………………………………………………………….…………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………………………………………………………
A. Merck Company overview, Product & Services, Strategies & Financials
B. Pfizer Inc. Company overview, Product & Services, Strategies & Financials
C. Novartis AG Company Profile, Product & Services, Strategies & Financials
8. Potential Growth Opportunities………………………………………………..……………………..
A. Advancements in drug development
B. Untapped markets in developing economies
9. Factors Driving Future Growth…………………………………………………………………………
A. Key Industry Trends and Recent Developments in OTC Nutrition Products Market
B. Future Opportunities
10. Conclusion

 

 

Market Segmentation

By Form:

Based on form, the OTC drug and dietary supplements market is segmented into tablets, capsules, powders, ointments, liquid, and others. The tablets segment held the largest share of the market in 2019 and is estimated to register healthy CAGR in the market during the forecast period

By Product:

Based on Product, the OTC drug and dietary supplement market is segmented into cough and cold products, vitamins and dietary supplements, analgesics, gastrointestinal products, sleep aids, oral care products, ophthalmic products, antacids, feminine care, and others. In 2019, the analgesics segment accounted for the highest share of the market

The growth of this segment is attributed to the growing awareness regarding general health issues related to body pain and the growing preference for non-prescription drugs over prescription drugs across the world. However, the vitamins and dietary supplements segment is likely to register the highest CAGR in the global OTC drug and dietary supplements market during the forecast period

By Region:

Region-wise, North America held the largest market for OTC consumer health products and the U.S continues to dominate the OTC consumer health products market representing 30% of the global industry in 2019

Additionally, Asia-Pacific is the second-largest market for OTC consumer health products during the forecast period. The huge population and increasing disposable income of the consumers coupled with growing lifestyle diseases are some major factors that are envisioned to foster the growth of the Asia-Pacific OTC consumer health products market

Key Industry Players

OTC drugs are manufactured by several pharmaceutical companies, mainly manufacturing prescription medicines, and OTC manufacturers like Perrigo that mainly produce OTC medicines with the latest brand and consumer goods companies like Procter & Gamble and Reckitt Benckiser, which market a range of consumer brands. OTC medicines are manufactured by a variety of drugs. For example, in Europe, the manufacturers get about two-thirds of the retail price of a medicine in income; the remaining one-third goes to wholesalers, retailers, and governments. The retail price of a medicinal product, for example, is increased by about two thirds

 

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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