Market Trends of United States Over-The-Counter Drugs Industry
Dermatology Products are Expected to Witness Healthy Growth
- Dermatology OTC products include medicated creams, ointments, tablets, and sprays to manage skin disorders such as dermatitis, acne, etc. The segment is expected to grow due to rising dermatological diseases such as acne, bacterial and fungal infections, and dermatitis, growing awareness of skincare, and new OTC dermatology product approvals and launches by the market players in the country.
- The growing awareness about skin diseases in the United States is also one of the critical factors responsible for the high demand for OTC drugs. The companies are launching campaigns that increase the population's awareness of dermatological diseases and their treatments.
- For instance, in September 2022, Arcutis, a US-based company, launched the Expose Psoriasis campaign, designed to improve the understanding of plaque psoriasis' physical and emotional impact. The campaign also raised awareness about the symptoms that may occur anywhere on the body, including knees, elbows, torso, and sensitive places like the face and genitals. With such awareness campaigns, there is a growing demand for OTC medication for the symptomatic management of the disease.
- The strategic activities by the market players, which include collaborations, acquisitions, and new dermatology product launches in the country, are increasing the availability of these products, which is expected to drive the segment's growth. For instance,
- In April 2023, WellSpring Consumer Healthcare acquired a portfolio of over-the-counter skincare brands from Bayer AG. This provides attractive scale and future growth opportunities and expands the company's presence in the market.
- In October 2022, Sonoma Pharmaceuticals Inc. launched over-the-counter Reliefacyn Advanced Itch-Burn-Rash-Pain Relief Hydrogel and Rejuvacyn Advanced Skin Repair Cooling Mist directly to consumers in the United States.
- Hence, the strategic activities of market players, such as acquisitions an product launches, are increasing the presence of dermatology products, which is expected to boost the segment over the forecast period.
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Tablets Segment is Expected to Hold a Significant Market Share
- Tablets are compressed solid dosage forms containing medicaments with or without excipients. Due to its stability and convenience in packaging, shipping, and dispensing, these formulations are expected to hold a significant share in the market.
- Other key factors responsible for the high demand for OTC tablets include the increasing burden of diseases, rising investments in research and development, and strategies of market players, such as product approvals and launches.
- The number of infection cases in the United States is increasing, raising the demand for tablets for various treatments. For instance, the Centers for Disease Control and Prevention issued a health alert in March 2024 about the increase in invasive serogroup Y meningococcal disease in the country. The common symptoms of meningococcal infection may include fever and chills, fatigue, vomiting, cold hands and feet, and severe aches and pains. This raises the demand for OTC tablets, which is expected to fuel the segment's growth in the coming years.
- The new OTC tablet approvals and launches by the market players are expected to increase the availability of products, which is expected to drive the segment's growth. For instance, in August 2023, Marksans Pharma received FDA approval for its Guaifenesin extended-release tablets to loosen phlegm (mucus) and thin bronchial secretions. These kinds of approvals increase the chances of more product launches, boosting the segment's growth.
