Unable to control mind.

I always had a little lack of concentration problem since childhood. 24*7 my mind used to make stories from any real or imaginary instances, from movies, or from any incidents around. I never took it much seriously as it didn't affect my daily life much back then. But since last 2-3 years i have felt this situation of mine worsening daily. Moreover it has affected my presence of mind and remembering capacity to a huge extent. I do not even seem to remember what i was looking at as soon as i am done looking at it because my mind is somewhere a million miles away. Recently i was preparing for competitive exams and it became almost impossible for me to read my books (trying to concentrate) for even 2-3 minutes continuously without causing me a headache. The outcome was that even after studying for hours i could get output of just a few minutes. This thing has started to tamper with my self confidence.I want to know is this thing a issue that needs psychological attention/medication?