In 2019, the market for OTC drugs and dietary supplements in Europe was valued at approximately US$ 85,835.9 million, with projections indicating it will reach around US$ 141,676.3 million by 2027. This growth represents a compound annual growth rate (CAGR) of 6.6% from 2020 to 2027.
The expansion of the OTC drug and dietary supplement sector in Europe can be primarily linked to increasing health concerns among the population and a growing preference for OTC medications. Nevertheless, stringent regulations imposed by governments regarding OTC drugs pose a significant challenge to market growth.
OTC drugs are accessible to the general public without the need for a physician's prescription. These medications cater to a variety of health issues, including coughs, colds, diarrhea, heartburn, constipation, acne, and pain relief. Conversely, dietary supplements are also available over the counter, primarily aimed at enhancing fitness. In certain situations, particularly when an individual is severely ill or in need of specific treatment, obtaining dietary supplements that contain medicinal ingredients may require a prescription.
OTC drugs and dietary supplements can be categorized into two main types: branded and generic. Today, individuals are increasingly aware of common health issues such as colds, coughs, allergies, fevers, pain, acidity, diarrhea, and skin conditions. Additionally, there is a growing emphasis on maintaining a healthy lifestyle, which includes avoiding junk food that can lead to lifestyle-related diseases like diabetes, obesity, and cardiovascular issues. This shift towards healthier living has also spurred the demand for weight-loss products and dietary supplements, including vitamins and minerals. The rise of internet accessibility has further facilitated consumer access to OTC drugs and dietary supplements at competitive prices.
Increasing pressure from both the government and consumers to lower prices is likely to expedite the transition from prescription to OTC (Rx-to-OTC) medications. There is considerable support among healthcare professionals for the use of OTC medications for treating minor ailments such as fever and cold/cough, although some reservations remain. While there are generic prescription medications that may be less expensive than OTC options, many OTC drugs are generally more affordable than their prescription counterparts.
As the COVID-19 pandemic continues to affect European nations, there has been a notable surge in the purchase of dietary supplements and vitamins. Consumers are increasingly seeking these products to boost their immune systems and help mitigate the effects of the virus.
The OTC drug and dietary supplement market can be divided into several product categories, including analgesics, cough and cold remedies, vitamins and dietary supplements, gastrointestinal products, antacids, ophthalmic products, sleep aids, oral care items, feminine hygiene products, and others. In 2019, the analgesics segment dominated the market; however, the vitamins and dietary supplements segment is projected to experience the highest growth rate during the forecast period.
From a classification perspective, the market is divided into generic and branded products. Additionally, it is segmented by form into tablets, capsules, powders, liquids, ointments, and other formats. Distribution channels for these products include hospital and retail pharmacies, retail stores, online platforms, and other avenues.
Key sources for this report include the World Health Organization (WHO), the European Pharmacy Network, the National Center for Biotechnology Information, and various company websites, which provide both primary and secondary data for analysis.