South Korea over the Counter (OTC) Drugs Market

Increasing prevalence of digestion disorders, common flu, and cold is driving
growth of the South Korea over the Counter (OTC) Drugs Market
Market Overview:
South Korea over-the-counter (OTC) drugs market is predicted at USD 4.70 billion in 2018 and is
anticipated to reach USD 6.63 billion by using 2023, developing at a CAGR of 7.11%. Over-thecounter (OTC) drugs also called as non-prescription drugs are drug treatments that don't
require the prescription from healthcare experts for selling it to customers. The clients can
follow the instructions mentioned on label and those drugs are safe to apply. Those drugs are
available at pharmacies, supermarkets, popular stores, and fuel stations throughout numerous
international locations.
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Escalating awareness on treatments is to thrive the market growth
Factors affecting market growth:
Increase in employment of self-medication (+)
Rising prevalence of chronic medical conditions (+)
Escalating awareness on treatments (+)
Growing geriatric population (+)
Intensifying higher demand for all medical services (+)
Restrictions by the government (-)
Only pharmacies have exclusive rights to manage pharmaceutical products (-)
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Pharmacies hold the largest segment of the market
Market Segmentation
The Global over-the-counter (OTC) drugs market is segmented on the basis of
Product Type
Cough, Cold and Flu Products
Vitamins and Minerals
Dermatological Products
Gastrointestinal Products
Ophthalmic Products
Sleep Aid Products
Weight Loss/Diet Products
By Formulation Type
Distribution Channels
Convenience stores
Others (Online Drug Stores)
As stated in advance, most of the OTC drugs in South Korea are distributed through
Pharmacies. But with the efforts of authorities to ease the regulations, income by supermarkets
and convenience stores are expected to choose up within the coming few years.
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Key players:
Some of the main companies of the market include GlaxoSmithKline, Johnson and Johnson,
Novartis, Bayer, Pfizer, Sanofi, Takeda Pharmaceuticals, Boehringer Ingelheim, Yuhan
Corporation, Hanmi Pharmaceuticals, Dong Wha Pharmaceuticals.
Contact Info:
Name: Mr. Abhishek Shukla
Email: [email protected]
Organization: MarketDataForecast™
Address: 2nd Floor, Above ICICI Bank,B-44, Rd Number 3, Journalist Colony, Film
Nagar, Hyderabad, Telangana 500033, India.
Phone: +1-888-702-9626

South Korea Over The Counter (OTC) Drugs Market By Product Type (Cough, Cold And Flu Drugs, Analgesics, Dermatologics, Gastrointestinal Drugs, Antiseptics, Anti-Allergy Drugs, Smoking Cessation Aids, Ophthalmics, Vitamins And Minerals, Sleep Aids, Weight Loss/Diet Drugs And Others (Ear Drops & Diuretics))