Market Trends of United Kingdom OTC Drugs Industry
Analgesics are Expected to Hold a Significant Market Share Over the Forecast Period
OTC analgesics are commonly used to treat and manage headaches, fever, toothache, musculoskeletal injuries, disorders, and menstrual cramps. The issues related to pain are the major reasons for the self-medication of analgesics. Therefore, the rising trend of self-medication with OTC analgesics among children and adolescents is posing an important public health concern.
The high burden of chronic pain and the growing geriatric population in the country increases the demand for easily available OTC analgesics, which is expected to boost the market. For instance, according to the report Versus Arthritis in June 2023, around a third of the United Kingdom population, over 20.29 million people, live with a musculoskeletal condition in 2022. In addition, as per the same source, 10 million people in the United Kingdom have osteoarthritis, an estimated 5.4 million people have knee OA, and an estimated 3.2 million people have hip OA in 2022. The high prevalence of musculoskeletal diseases increases the risk of chronic pain, which likely raises the demand for OTC analgesics, thereby propelling the growth of the segment over the study period.
Furthermore, the new OTC analgesic product approvals and launches increase the portfolio of the market players and are expected to drive the market. For instance, in December 2022, Manx Healthcare launched Reliviate Aches and Joint Pain Relief 0.5% w/w Gel in the United Kingdom. This offers patients an over-the-counter solution to their pain, which is expected to have significant growth in the market over the forecast period.
Oral Route of Administration is Expected to Register a High CAGR in the Market Over the Forecast Period
Oral administration of medication is a convenient, cost-effective, and most commonly used medication administration route. Because of its benefits, including non-invasiveness, patient compliance, and ease of medication delivery, it is the most favored method. The major factors that are expected to drive the growth of the market in the segment include market player strategies like new product approvals and launches and demergers and increasing self-medication in the country.
For instance, in July 2022, GSK plc in London stated that it had completed the demerger of the Consumer Healthcare business from the GSK Group to form the Haleon Group. Haleon has a few major brands, which include Panadol. Thus, the demerger of consumer healthcare, which includes OTC drugs, increases the focus of the companies on these products and is expected to boost the segment growth over the forecast period.
Furthermore, the awareness of OTC products and self-medication through various programs increase the usage of the products in the country, which is expected to drive the market. For instance, in May 2023, the Proprietary Association of Great Britain (PAGB) provided expert comments and opinions to the media about self-care and over-the-counter medicines. This helps in the proper usage of OTC medicines, which majorly include oral drugs, which are expected to have significant growth in the market through this segment.
