India Over The Counter (OTC) Drugs Market Report

Market Overview:

The India over the counter (OTC) drugs market size reached US$ 8.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2032, exhibiting a growth rate (CAGR) of 14.28% during 2024-2032. The growing geriatric population, the widespread popularity of e-commerce pharmacies and the rising health awareness among individuals represent key factors driving the market.

Over-the-counter (OTC) drugs can be used without a prescription from a healthcare professional. These drugs are typically used to treat common health conditions, such as pain, fever, cold and flu symptoms, allergies, and digestive issues. OTC drugs are regulated by the Food and Drug Administration (FDA) in the United States and other regulatory bodies across the rest of the countries. They are generally considered safe when used as directed but can have potential side effects or interactions with other medications or health conditions. Common OTC medications include pain relievers, such as acetaminophen and ibuprofen, antihistamines for allergies, cough, and cold medicines, antacids for heartburn and acid reflux, and laxatives for constipation. One of the major benefits of over-the-counter drugs is their accessibility. OTC drugs are widely available in pharmacies, drugstores, and grocery stores, making them convenient for individuals to access without visiting a healthcare provider. They are also often less expensive than prescription medications, making them a more affordable option for individuals without health insurance or limited financial resources. Additionally, OTC drugs can help individuals take charge of their healthcare. These drugs provide a convenient, affordable, and effective way for individuals to manage common health conditions and improve their overall well-being.

India Over The Counter (OTC) Drugs Market Trends:

The increasing trend of self-medication in India is the primary driving force behind the OTC drug market growth. The high consultation fees charged by healthcare professionals have led consumers to prefer self-treatment with OTC drugs. Additionally, the growing population of elderly individuals who are prone to multiple ailments is fueling demand for these products. The numerous initiatives and schemes undertaken by the Government of India (GOI) to promote OTC drug sales and reduce their prices have also contributed to the market growth. Apart from this, the widespread popularity of e-commerce websites among consumers has led to a significant increase in OTC drug sales via online pharmacies, which, in turn, is expected to drive the growth of the market. The market is also benefitting from continuous product innovations and increased investments in research and development (R&D). Some of the other factors contributing to the market include the inflating disposable incomes, increasing stress levels among working professionals, and the growing health awareness among individuals.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India over the counter (OTC) drugs market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on product type, route of administration, dosage form and distribution channel.

Product Type Insights:

• Cough, Cold and Flu Products
• Analgesics
• Dermatology Products
• Gastrointestinal Products
• Vitamins, Minerals and Supplements (VMS)
• Weight-loss/Dietary Products
• Ophthalmic Products
• Sleeping Aids
• Others
   

The report has provided a detailed breakup and analysis of the India over the counter (OTC) drugs market based on the product type. This includes cough, cold and flu products, analgesics, dermatology products, gastrointestinal products, vitamins, minerals and supplements (VMS), weight-loss/dietary products, ophthalmic products, sleeping aids, and others. According to the report, cough, cold and flu products accounted for the largest market.

Route of Administration Insights:

• Oral
• Parenteral
• Topical
• Others
   

The report has provided a detailed breakup and analysis of the India over the counter (OTC) drugs market based on the route of administration. This includes oral, parenteral, topical, and others. According to the report, oral accounted for the largest market.

Dosage Form Insights:

• Tablets and Capsules
• Liquids
• Ointments
• Others
   

The report has provided a detailed breakup and analysis of the India over the counter (OTC) drugs market based on the dosage form. This includes tablets and capsules, liquids, ointments, and others. According to the report, tablets and capsules accounted for the largest market.

Distribution Channel Insights:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
   

The report has provided a detailed breakup and analysis of the India over the counter (OTC) drugs market based on the distribution channel. This includes hospital pharmacies, retail pharmacies, online pharmacies, and others. According to the report, retail pharmacies accounted for the largest market.

Region Insights:

• North India
• West and Central India
• South India
• East India
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East India. According to the report, West and Central India was the largest market for Over The Counter (OTC) drugs market. Some of the factors driving the West and Central India Over The Counter (OTC) drugs market included growing geriatric population, the inflating per capita income levels and the rapid expansion of e-phamacies.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in India over the counter (OTC) drugs market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Report Coverage:

Key Benefits for Stakeholders:  

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India over the counter (OTC) drugs market from 2018-2032.  
• The research study provides the latest information on the market drivers, challenges, and opportunities in India over the counter (OTC) drugs market.  
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India over the counter (OTC) drugs industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.