Over-the-Counter (OTC) Pain Medication Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Over-The-Counter Pain Medication Market Size

Over-the-counter pain medication market size is set to witness remarkable growth during 2024 and 2032 as the incidence of lower back pain, headache, neck pain, migraine, and other acute pain conditions is growing across the world.
 

According to the WHO report published in July 2023, as of 2019, approximately 528 million individuals globally were affected by osteoarthritis, marking a substantial 113% rise since 1990. Among those afflicted, approximately 73% are aged 55 and above, with females constituting 60% of the demographic. The increasing prevalence of chronic conditions such as arthritis and back pain, coupled with the rising geriatric population globally, has led to a surge in demand for accessible pain relief solutions.
 

Additionally, the expanding awareness among consumers regarding self-medication options and the convenience offered by OTC pain medications without the need for prescriptions are fueling market progression.
 

Over-The-Counter Pain Medication Market Trends

A key trend stimulating market gains is the development of novel non-opioid analgesics to prevent the risk of addiction to pain medication, which are commonly used in the treatment of chronic pain. A notable example of this is the discovery of a new non-opioid compound, dubbed benzyloxy-cycloistyladenosine, by a research team from the University of Warwick’s School of Life Sciences. As an alternative to conventional pain medication, the new compound demonstrated fewer side effects in test models, and also displayed a distinct mode of action, creating favorable avenues for analgesic drug development.
 

Over-The-Counter Pain Medication Market Analysis

Based on the drug type, the acetaminophen segment is predicted to register a considerable CAGR from 2024 to 2032 owing to benefits such as relief from fever, headache, and many other common aches and pains. Acetaminophen has a high success rate in treating children suffering from common pain disorders as well as cold and flu making it highly recommendable. The drug helps individuals diagnosed with arthritis as it has lesser side effects as compared to other pain medicines, which may further boost product consumption.
 

In terms of route of administration, the oral segment is projected to hold a significant share of the over-the-counter pain medication market by 2032. Since oral OTC pain medications come in different forms, such as chewable, tablets, liquids, and capsules, they are easily accessible and affordable. The Safety, convenience, and compatibility encourage patients to opt for oral consumption of pain medications, favoring the segment growth over the forecast period.
 

The gel-based segment is predicted to generate massive revenue by 2032 as the occurrence of acute pain disorders is increasing at a steady rate. The pain relief gels have numerous advantages such as easy application, faster relief from muscle pain, and high affordability. Many leading companies are launching advanced versions of their products to cater to the growing demand for fast-acting pain relief solutions, thereby accelerating industry progress.
 

Asia Pacific over-the-counter pain medication market size will expand at a notable pace during 2024 and 2032 as governments across the region are increasing their spending on the healthcare sector through various schemes and policies. For example, the Government of Indonesia set aside USD 16.2 billion or 9.4% of its entire 2022 Budget for the healthcare sector. The population in developing countries is also rising, with more people relying on self-medication to treat common pains and aches. Unhealthy dietary habits leading to higher prevalence of pain disorders is expected to create robust demand for advanced OTC pain medication products, fueling the regional industry progress.
 

Over-The-Counter Pain Medication Market Share

Reputed organizations in over-the-counter pain medication industry include:

• Pfizer Inc.
• Johnson & Johnson
•  Sanofi S.A.
• Bayer AG
• GlaxoSmithKline plc (GSK)

These pharma companies are investing heavily in R&D to develop effective formulations, alongside strategic M&As and collaborations to enhance their industry stake.
 

Over-The-Counter Pain Medication Industry News

·       In April 2023, GSK finalized an agreement to purchase BELLUS Health, a biopharmaceutical company specializing in late-stage development. This acquisition bolsters GSK's portfolio in specialty medicines and respiratory treatments, particularly with the addition of camlipixant.

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