Over The Counter Pain Medication Size to worth US$ 35.50 Billion by 2031, Coherent Market Insights

According to Coherent Market Insights, the global over the counter pain medication market size is estimated to be valued at USD 27.12 billion in 2024 and is expected to surpass USD 35.50 billion by 2031, growing at a CAGR of 3.9% from 2024 to 2031.

Increasing prevalence of musculoskeletal conditions globally drives market growth. As per data by Arthritis Foundation, around 126 million U.S. adults are expected to have diagnosed arthritis by 2050. As per Centers for Disease Control and Prevention, 1 in 4 U.S. adults are living with doctor-diagnosed arthritis.

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Easy availability of pain medications without prescription also fuels the growth of the over-the-counter pain medication market.

Market Trends:
Preference for natural and herbal pain medications is a key trend driving market growth. This is owing to rising awareness regarding side effects of allopathic medicines. Major players are focusing on development and launch of pain medication products. These products are with formulation based on natural ingredients like glucosamine, chondroitin, turmeric.

Another key trend gaining traction is introduction of advanced drug delivery systems. This is due to convenience of use offered by these systems. These systems involve fast dissolving formulations, gels, and patches for pain medication.

Over The Counter Pain Medication Market Report Coverage

Report Coverage

Details

Market Revenue in 2024

$27.12 billion

Estimated Value by 2031

$35.50 billion

Growth Rate

Poised to grow at a CAGR of 3.9%

Historical Data

2019–2023

Forecast Period

2024–2031

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Drug Class, By Route of Administration, By Dosage Form, By Distribution Channel

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

 Growth Drivers

• Growing Prevalence of Chronic Diseases

• Easy availability and accessibility of OTC pain medicines

Restraints & Challenges

• Side effects of prolonged usage

• Risk of addiction and drug abuse

 

Market Opportunities

Increasing prevalence of pain-related conditions like arthritis and other musculoskeletal disorders drives demand for (OTC) pain medications. As per the Centers for Disease Control and Prevention, around 25 million Americans suffer from migraines and chronic pain annually. Untreated chronic pain can have a severe impact on quality of life. OTC drugs offer a convenient way for patients to manage mild to moderate pain at home without a prescription.

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Increasing global geriatric population will drive the demand for (OTC) pain medication market. Older adults are more prone to develop musculoskeletal conditions like arthritis due to natural wear and tear of bones and joints with aging. As per the UN Population Fund, the number of people aged 65 years or older is projected to reach 1.5 billion by 2050.

Expansion of the elderly demographic is expected to drive demand for pain-relief drugs designed for use without medical supervision. This is due to safe, easy, and affordable access provided by OTC medications.

Key Market Takeaways:

The global over-the-counter pain medication market is estimated to be valued at USD 27.12 billion in 2024. It is anticipated to witness a CAGR of 3.9% during the forecast period. This is due to rising prevalence of arthritis and other pain-causing disorders.

By type of drug, the acetaminophen segment holds the largest market share. This is owing to its wide availability and effectiveness in relieving mild to moderate pain. NSAIDs such as ibuprofen also have a sizable global presence due to their anti-inflammatory properties.

In terms of distribution channel, hospital pharmacies segment dominates market share. This is due to heavy footfalls of patients with chronic illnesses. Moreover, retail pharmacies are becoming popular due to expanded operating hours and walk-in accessibility.

 

North America holds the leading position in the OTC pain medication market. This is due to growing healthcare expenditure and rising obesity rates exacerbating joint problems in the region.

Competitor Insights

- Bayer AG
- Reckitt Benckiser Group PLC
- Johnson & Johnson

Recent Developments

In October 2023, the U.S. FDA approved the non-opioid painkiller, Maxigest IV. It is used for moderate-to-severe pain and mild-to-moderate pain.

In August 2022, Myovant Sciences and Pfizer announced that the U.S. FDA approved MYFEMBREE pill. It is used for treatment of moderate to severe endometriosis pain in pre- menopausal phase.

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Detailed Segmentation

By Drug Class:

    • Non-steroidal Anti-inflammatory Drugs (NSAIDs)
    • Local Anaesthetics
    • Acetaminophen
    • Salicylates
    • Others

By Route of Administration:

    • Oral
    • Topical
    • Others

By Dosage Form:

    • Tablets/Capsules
    • Liquids
    • Creams
    • Gels
    • Others

By Distribution Channel:

    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies

By Region:

    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East
      • GCC Countries
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • North Africa
      • Central Africa

 

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