South Korea Over The Counter (OTC) Drugs Market Analysis


  • Type: Therapeutics Area
  • Published : June 2021
  • Region: Asia
  • Country: South Korea
  • Report ID : 4860

  • Format: PPT, PDF

South Korea Over The Counter (OTC) Drugs Market: Segmented By Formulation (Tablets, Liquids, Ointments, Sprays), By Product Type (Cough, Cold, and Flu Products, Analgesics, Dermatology Products, Gastrointestinal Products, Antiseptics, Vitamins and Minerals, Weight-loss/Diet Products, Ophthalmic Products, Sleeping Aids and Others) and By Distribution Channel (Hospital and Retail Pharmacy, Online Pharmacy, Supermarkets/ Hypermarkets)- Growth, Trends and Forecasts (2019 – 2028)

SKU: 4860 Categories: ,

Report Overview

The South Korea over the counter (OTC) drugs market size stood at around USD 21.43 billion in 2019 and is projected to reach xx billion by 2028, exhibiting a CAGR of around xx% during the forecast period.

The pharmaceutical industry in South Korea is a significant industry worth over USD 20 billion as of 2018. It is the third largest in Asia.

Over the counter drugs are the drugs that need no prescription to avail them. The availability and affordability of these medicines has further increased their adoption rates in the market. Rapidly expanding Korea’s healthcare and pharmaceuticals industries is further expected to boost the growth of market over the next few years.

Market Drivers

With increase in awareness of various health conditions and their treatment an increase in employment of self-medication is observed in the population. This propels the growth of OTC drug market. Moreover, increase in geriatric population is associated with numerous chronic medical conditions. As a result, higher number of medications are used leading to higher demand for all medical services including OTC drug.

Rising issues of substance abuse have forced stringent regulations for use of certain categories of drugs affecting OTC drugs market. Under Korea’s Pharmaceutical Law, only pharmacies have the rights to manage pharmaceutical products including OTC drugs. These factors act as impediments in drugs reaching the customers and also in growth of market.



1. South Korea Over The Counter (OTC) Drug Market Overview…………….
A. Market Size
2. Market Growth Drivers………………………………………………….
A. Increase in Employment of Self-Medication
B. Rapidly Growing Geriatric Population
3. Types of Drugs………………………………..
A. Generic
B. Branded
4. Over The Counter (OTC) Drug Market Segmentation………………………….
A. Formulation Type
I. Tablets
II. Liquids
III. Ointments
IV. Sprays
B. Product Type
I. Cough, Cold, and Flu Products
II. Analgesics
III. Dermatology Products
IV. Gastrointestinal Products
V. Antiseptics
VI. Vitamins and Minerals
VII. Weight-loss/Diet Products
VIII. Ophthalmic Products
IX. Sleeping Aids
X. Others
C. Distribution Channel
I. Hospital and Retail Pharmacy
II. Online Pharmacy
III. Supermarkets/ Hypermarkets
5. Over The Counter (OTC) Drug Products Market Share……………………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles……………………………………………….
A. Bayer AG Company Overview, Product & Services, Strategies & Financials
B GlaxoSmithKline Korea Company Overview, Product & Services, Strategies & Financials
C. Samsung Pharm Company Overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth………………………………………
A. New Trends and Development of Over The Counter (OTC) Drug Market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Formulation:

On the basis of formulation market is segmented into tablets, liquids, ointments, and sprays.

By Product Type:

According to product type market is segmented as cough, cold, and flu products, analgesics, dermatology products, gastrointestinal products, antiseptics, vitamins and minerals, weight-loss/diet products, ophthalmic products, sleeping aids and others.

By Distribution Channel:

According to distribution channel the market is segmented as hospital and retail pharmacy, supermarkets/hypermarkets, and online pharmacy.


Top Players

In terms of market share, few of the major players are currently dominating the market some of them are Hanmi Pharm, Chong Kun Dang Pharmaceutical, Daewoong Pharmaceutical, Green Cross, Celtrion. Apart from these major players others are also striving continuously to rise in the market. Few of them are AbbVie Inc., AstraZeneca, Bayer AG, Samsung Pharm, and GlaxoSmithKline.

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”.

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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.

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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)

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  • Market Segment based analysis to obtain revenue / volume
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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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