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Driven by technology, Zoomers approach their healthcare in different and evolving ways than previous generations.
The pharmaceutical market is changing, and the next generation of spenders, called Gen Z, or Zoomers, will impact the future rise in over the counter (OTC) pharmaceuticals. According to Statista, revenue of the global OTC pharmaceutical market is expected to increase rapidly. Projections call for sales of $145.26 billion dollars in 2023 to an
increase of $179.42 billion in 2027.1
Clearly, OTC pharma is big business. Despite having lower
per-unit costs, OTC drugs often surpass prescription drugs in
terms of annual sales. Some of the most convenient OTC drugs
come in easy to use and accessible packaging like topicals,
gummies, aerosols, nasal solutions, or liquid/semi solids.
In fact, top sellers for pharmacists’ choice for 2022 included
gels, liquids, ointments, and other non-traditional OTC forms
like “pops” for children. In a U.S. News article, Kim Castro, editor
and chief content officer for the publication, said, “Since the
pandemic began, more Americans are paying closer attention
to their symptoms and looking for easily accessible information
about over-the-counter medications especially for allergies,
coughs, and headaches.”
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