Over The Counter Drugs (OTC) Market is Expected to Grow at High CAGR during the forecast

The Over-The-Counter (OTC) drugs market showcased remarkable growth, attaining a valuation of USD 175.6 billion in 2023. Projections indicate a continued upward trajectory, with expectations soaring to USD 275.7 billion by 2031. This surge reflects a robust compound annual growth rate (CAGR) of 5.80% throughout the forecast period spanning from 2024 to 2031. Such a buoyant market performance underscores the increasing reliance on self-medication and the accessibility of OTC remedies. Factors such as ease of purchase, growing awareness of healthcare, and the expanding array of available OTC medications contribute to this flourishing market landscape. As consumers seek convenient and cost-effective solutions for their healthcare needs, the OTC drugs market stands poised for sustained expansion in the years ahead.