India’s over-the-counter (OTC) drug market, valued at ₹47,000 crore in 2024, is projected to reach ₹98,000 crore by 2030, growing at a compound annual growth rate (CAGR) of 13%, according to an EY report.
The expansion is fueled by rising out-of-pocket healthcare spending, digital commerce, and a consumer-led wellness economy, with self-care OTC products shifting from expert-led to consumer-driven models. Vitamins, minerals, and supplements (VMS) are expected to grow at 13%, driven by daily supplementation habits, while weight management could surge at 19%.
Emerging segments like women’s health are gaining traction due to demand for hormonal, fertility, and menopause supplements amid declining fertility rates. “While doctors remain central to first-time adoption, our survey shows that repeat purchases are increasingly shaped by usage experience, brand trust, and category-specific channel preferences,” said Suresh Subramanian, National Lifesciences Leader, EY Parthenon India.
Sumeet Chandna, Partner, Health Sciences, EY Parthenon India, highlighted opportunities for companies: “Winning in this environment will require disciplined portfolio choices, strong multi-channel go-to-market execution, to target a broader consumer base while continuing to protect trust and equity with medical influencers.”
Subramanian cautioned, “There is also a need for clear regulatory frameworks around product classification, claims, labelling, and consumer communication to enable responsible self-medication and support long-term industry investment.”
