Report : North America OTC Drug and Dietary Supplement Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Cough and Cold Products, Vitamins and Dietary Supplements, Analgesics, Gastrointestinal Products, Sleep Aids, Oral Care Products, Ophthalmic Products, Antacids, Feminine Care, and Others); Type (Branded and Generic); Form (Tablets, Capsules, Powders, Ointments, Liquid, and Others); Distribution Channel (Hospital and Retail Pharmacies, Retail Stores, Online Channels, and Others), and Geography
Vitamins and Dietary Supplements Market for OTC Drug and Dietary Supplement Segment to Grow at Fastest CAGR during Forecast Period
According to our new market research study on “OTC Drug and Dietary Supplement Market to 2027 – North America Analysis and Forecast – by Product, Type, Form and Distribution Channel,” the market is expected to reach US$ 224,349.5 million in 2027 from US$ 131,818.3 million in 2019; it is estimated to grow at a CAGR of 7.0% from 2020 to 2027. The report highlights trends prevailing in the North America OTC Drug and Dietary Supplement Market and the drivers and restraints pertaining to the market growth.
Based on product, the North America OTC Drug and Dietary Supplement market is segmented into analgesics, cough and cold products, vitamins and dietary supplements, gastrointestinal products, antacids, ophthalmic products, sleep aids, oral care products, feminine care and other products. The vitamins and dietary supplements segment is estimated to register the highest CAGR in the market during the forecast period. Increasing applications of dietary supplement in immunity boosting and regular body maintenance are the factors boosting the market for the vitamins and dietary supplements segment.
The North America OTC Drug and Dietary Supplement market growth is mainly attributed to factors such as rising awareness among population about general health issues, and advantages of OTC drugs are expected to propel the growth of the market. However, strict FDA regulation for OTC drugs is the major factor hindering the market growth. COVID19 has affected the North American countries which has led to high number of coronavirus cases. People are purchasing more immunity booster products available in the market to combat coronavirus effect.
GlaxoSmithKline plc; Sanofi; Johnson and Johnson Services, Inc; Abbott; AbbVie Inc; Bausch Health Companies Inc; Bayer AG; Procter & Gamble; Novartis AG, and Reckitt Benckiser Group Plc among others. are among the leading companies operating in the OTC Drug and Dietary Supplement Market.
The report segments North America OTC Drug and Dietary Supplement market as follows: