close

Enter

Log in using OpenID

Over-the-counter Drugs Market Set for Rapid Growth and Trend, by 2026

embed
OTC drugs are regulated and manufactured under OTC Monograph or New Drug Application (NDA) processes. Click To Read More On Over-the-counter Drugs Market
Over-the-counter Drugs Market Trends Research
And Projections For 2018-2026
Over-the-counter Drugs Market, by Product Type (Analgesics and Pain
Relievers, Cough, Cold and Flu Products, Dermatological Products, Vitamin &
Mineral Supplements, Gastrointestinal Products, Sleeping Aids, Smoking
Cessation Aids, Ophthalmic Products, and Others), by Route of Administration
(Oral, Topical, and Others), by Distribution Channel (Hospital Pharmacies, Retail
Pharmacies, Online Pharmacies, and Others), and by Geography (North
America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global
Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Over-the-counter (OTC) drugs also called as non-prescription drugs are medicines that do not require
prescription from healthcare professionals for selling it to consumers. Consumer can follow the
instruction mentioned on label and these drugs are safe to use. These drugs are available at pharmacies,
supermarkets, general stores, and gas stations across several countries. However, these drugs are solely
authorized for dispense by pharmacists, after confirming age, identity, and patient’s knowledge
regarding the product and its utility. Non-prescription drugs such as analgesics, dermatologics, and
digestive medicines are used to treat minor health issues. OTC drugs are regulated and manufactured
under OTC Monograph or New Drug Application (NDA) processes. Click To Read More On Overthe-counter Drugs Market
Increasing prevalence of digestion disorders, common flu, and cold is driving growth of the
market
According to American Nutrition Association, 2016, around 70 million people suffer from some form
of digestion disorder such as indigestion, acid reflux, irritable bowel syndrome, and constipation daily.
Patients suffering from these conditions are reported to use non-prescription medicines. OTC drugs
widely used to treat symptoms of cold and flu worldwide. Increasing prevalence of viral infections
causing cold and flu is creating a favorable environment for growth of OTC drugs market. According to
Australian Health Direct, over 200 viruses present worldwide can cause cold and adults are susceptible
to these viruses around 2-4 times annually. The same source also suggests that the cold and flu
symptoms are usually mild to moderate and self-limiting, which is propelling demand for over-thecounter drugs, in turn fueling growth of the market.
North America to hold the leading position in the global over-the-counter drugs market, owing to
well established healthcare structure
On the basis of geography, the global over-the-counter drugs market is segmented into North America,
Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant
position in the global over-the-counter drugs market, followed by Europe, owing to growing patient
awareness regarding consumption of OTC drugs, leading to self-medication practices. According to
Consumer Healthcare Protection Act 2015, an estimated 81% adults in the U.S. use OTC medicines as
their first response to minor ailments. Moreover, the same data states that U.S. had an around 54,000
pharmacies in 2015 and over 750,000 retail outlets selling OTC drugs. Asia Pacific economies such as
China and India are expected to witness rapid growth in OTC market over the forecast period due to
increasing public awareness regarding the treatment of minor diseases as well as increasing number
market players tapping into emerging markets of the region. For instance, Takeda Pharmaceuticals in
March 2016, started overseas sales of OTC brand—Alinamin in Vietnam, India, Hong-Kong, and
China.
Ask For Sample Copy Of This Report : https://www.coherentmarketinsights.com/insight/requestsample/1218
Increasing inclination of the populace towards self-medication for treatment of minor health conditions,
low pricing of these drugs, convenience of direct purchase, as well as innovations and developments in
the dosage forms of these drugs is fueling growth of the market. According to Consumer Healthcare
Products Association, in the U.S number of allergy sufferers using OTC medication increased from
66% in 2009 to 75% in 2015. However, increasing number of market players, high possibilities of
addiction and substance abuse are major factors restraining growth of the market. Side-effects
associated with consumption of wrong medications due to lack of awareness among the rural
population in emerging economies is further restraining growth of the OTC drugs market.
Key players are focusing into strategic alliances and partnerships with companies in distant
geographies to increase visibility of product. For instance, in January 2018, Nuvo Pharmaceuticals, Inc.
acquired ex-U.S. product and existing royalty streams for ‘Resultz’, an OTC treatment for head lice
from Piedmont Pharmaceuticals LLC. Key players operating in the global over-the-counter drugs
market include Alkem Laboratories Limited, GlaxoSmithKline Plc., Boehringer Ingelheim GmbH,
Glenmark Pharmaceuticals Ltd., Cipla Ltd., Johnson and Johnson Inc., Pfizer, Inc., Novartis AG,
Merck KGaA, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready
syndicated research reports, custom market analysis, consulting services, and competitive analysis
through various recommendations related to emerging market trends, technologies, and potential
absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1–206–701–6702
Email: [email protected]
Author
ravikiran
ravikiran303   documents Email
Document
Category
Health and Medicine
Views
12
File Size
364 KB
Tags
Over-the-counter Drugs, drugs
1/--pages
Report inappropriate content