Over-the-Counter Pain Medication Market currently generates a revenue of US$ 21.8 billion in 2022 and is expected to reach a valuation of US$ 27.7 billion by the end of 2028. Over-the-counter pain medicine demand is expected to grow at a CAGR of 4.1% from 2022 to 2028.
The rising prevalence of back pain, neck discomfort, and headaches has boosted demand for over-the-counter muscle relaxers and pain medications. Over-the-Counter Pain Medication shipments account for 31% of the global pain management market.
According to macro and industrial standards, the market is governed by pharmaceutical and biologics legislation, prescription patterns, and disease epidemiology. The development of sophisticated topical pain relief drugs is one of the market’s most significant developments.
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The drop in BPS values is due to the negative effects of pain relievers, which is pushing consumer choice towards alternative therapies such as traditional and herbal remedies. Furthermore, the introduction of prescribed treatments, such as pain management devices, as well as non-opioid medications, has slowed the market’s progress.
The Increasing Elderly Demographic | A Boon for Over-the-Counter Pain Medication Sales
The ageing population is at a greater risk of developing many chronic pain illnesses, and the world’s growing geriatric population is predicted to increase demand for Over-the-Counter Pain Medication.
The rising prevalence of arthritis pain is likely to fuel demand for over-the-counter arthritis treatment. Over-the-Counter Pain Medication providers are primarily targeting this age group, and as the elderly population grows, demand for a variety of OTC pain medications is likely to rise.
OTC for back pain, OTC for neuropathy, OTC for knee pain, OTC for lower back pain, and so on are projected to be in high demand in the coming years as the global elderly population grows.
Over-the-Counter Pain Medication Market Regional Insights:
This market assessment examined demand for Over-the-Counter Pain Medications in North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
North American over-the-counter pain medicine sales currently account for 33.4% of the global industry landscape. The increasing use of over-the-counter pain relievers, as well as the wide availability of numerous drugs, are two important factors impacting demand in this region.
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The expanding senior population and need for pain management are likely to have a significant impact on over-the-counter pain medicine shipments in the European region. At the moment, the European Over-the-Counter Pain Medication market accounts for 29.2% of the global market.
In 2022, South Asia and East Asia will account for 6.6% and 20.8% of the worldwide Over-the-Counter Pain Medication market, respectively. Changing lifestyle changes are predicted to have a significant impact on demand for OTC muscle relaxers, OTC pain relievers, and other OTC pain medication.
Over-the-Counter Pain Medication Market Competitive Landscape:
Over-the-Counter Pain Medication manufacturers are working on the development and introduction of new OTC pain medications in order to diversify their product portfolios and increase sales income globally.
- CV Sciences Inc., a well-known company in CBD product manufacturing, announced the launch of a new line of OTC pain medication in January 2022. The +PlusCBD Pain Relief topical contains quality hemp-derived CBD and is intended to relieve mild pains. There are four different items to pick from.
Over-the-Counter Pain Medication Market Major Players:
- Pfizer 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
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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
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
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