Over-the-Counter Pain Medication Market to Display Growth at CAGR 4.0% through 2028 Healthcare, Pharmaceuticals & Medical Devices February 2019 Report Id : REP-GB-8947 Status : Publish Category : Healthcare, Pharmaceuticals & Medical Devices ©2015 Future Market Insights, All Rights Reserved About Future Market Insights Future Market Insights (FMI) is a premier provider of syndicated research reports, custom research reports, and consulting services. We deliver a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, aerial view of the competitive framework, and future market trends. We provide research services at a global as well as regional level; key regions include GCC, ASEAN, and BRIC. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology, Healthcare, and Retail. 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T (Sr. Manager - Global Business Development) T: +44 (0) 20 7692 8790 | D: +44 20 3287 4268 Email: [email protected] ©2015 Future Market Insights, All Rights Reserved 2 Research Methodology (1/2) Systematic Research Approach 1 Market profiling 2 Formulating discussion guide 3 Developing list of respondents 4 In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. FMI formulates a detailed discussion guide to conduct expert and industry interviews FMI develops a list of industry players (manufacturers), distributors, retailers and industry experts Data collection FMI conducts interviews with industry experts, industry players, distributors and retailers Data validation Data is validated by triangulation method, wherein secondary, primary and FMI analysis contribute to the final data 5 6 Data analysis Insights 7 Data is scrutinized using MS-Excel to obtain qualitative and quantitative insights about the industry FMI delivers industry insights and information in the required format (PDF) Data Collection Research & Intelligence Data Filter & Analysis Identifying key opinion leaders Questionnaire design In-depth interviews Coverage across value chain Actionable Insights A Primary Research B SOLUTION Market participants Key strengths Product portfolio Mapping as per value chain Key focus segments Primary Research # Linkedin Zoominfo Salesforce Avention Business Solution Desk Research C Key industry experts Channel study Developments Market dynamics Products Conclusions Company Analysis Secondary Research # Company websites Company annual reports White papers Financial reports Paid Publications# Factiva GBI Genios Meltwater # includes sources of databases ©2015 Future Market Insights, All Rights Reserved 3 Over-the-Counter Pain Medication Market Analysis Advancements in Pain Management and the Rising Prevalence of Acute Pain The rising prevalence of lower back pain, neck pain, headache, migraine, and other acute pain conditions is boosting the market for over-the-counter pain medication. According to a survey conducted by the National Center for Biotechnology Information, over 80% of the population experiences episodes of acute pain conditions in their lifetime due to continuous sitting, sports and activities, sudden falls, other health conditions, lifestyle, hygiene, etc. The expansion of companies offering novel and cost-effective over-the-counter pain medications in Asian countries is expected to fuel the growth of the over-thecounter pain medication market. Companies having patent rights for particular over-the-counter pain medication are targeting potential countries in Asia and Africa. For this purpose, these companies are seeking the approval of respective government authorities in view of commercializing their products. Increased efforts by manufacturers to offer cost-effective over-the-counter pain medication and rapid advancements in pain management are expected to boost the over-the-counter pain medication market. Severity of Abusive Over-the-Counter Pain Relief Drugs The popularity of over-the-counter pain medication increases the potential of its abuse. It has been observed that some over-the-counter pain medication are being overused, consumed in larger quantities than what is prescribed, and sometimes, patients became addicted to them. Due to these factors, patients suffer from adverse effects. Most over-the-counter pain medications are safe for healthy people only if used as directed. ©2015 Future Market Insights, All Rights Reserved 4 Over-the-Counter Pain Medication Market Analysis The most commonly used over-the-counter pain medication for relief are non-steroidal and antiinflammatory drugs, which can cause potentially fatal adverse effects such as stomach bleeding and ulcers. According to the American Gastroenterological Association, in the U.S., more than 30 Mn people are using NSAIDs every day for pain relief from headaches, backache, arthritis, and other acute conditions. It has been observed that there is a lack of proper guideless and awareness among a large percentage of the population regarding the dosage of over-the-counter pain medication and the manner in which they should be taken. A large number of patients are consuming acetaminophen for almost all types of chronic and acute pain, and thus suffering from its adverse effects and predisposing themselves to serious complications associated with ill self-diagnosis and self-medication. Request Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-8947 Growth in Aging Population Suffering from Pain Disorders The growing aging population is at a high risk of chronic pain disorders. During the aging process, several physical changes take place, which can impact the processing of pain among the population of this age group. Pain occurs due to several reasons such as reduced mobility, falls, and evasion of activity, sleep impairment, anxiety, and depression. In the United States, the Institute of Medicine stated that the prevalence of pain has been increasing among all age groups, but has been consistently the highest among the aging American population. The aging American population has the highest long-term consumption rate of over-the-counter pain medication for pain relief. ©2015 Future Market Insights, All Rights Reserved 5 Over-the-Counter Pain Medication Market Analysis In addition, the increase in the prevalence of age-related pain disorders is boosting the usage of over-thecounter pain medication among the elderly population. This age group is the major target group for manufacturers, and is contributing to the growth of the over-the-counter pain medications market. This growing patient pool will boost the growth of the over-the-counter pain medication market during the forecast period. Adverse Effects Related to OTC Pain Medications According to the American Gastroenterological Association, more than half of the stomach bleeding cases and ulcers are associated with NSAIDs. The long-term usage of NSAIDs is also likely to lead to heart and stroke risks, kidney failure and/or high blood pressure. An overdose of acetaminophen can lead to liver failure and possibly death. A heavy dosage of acetaminophen can also lead to kidney disease, GI bleeding, stroke or heart attack, and/or high blood pressure. Taking drugs for an extended time period, higher consumption of drugs than the recommended dosage, taking drugs in combination with other pain medications, and/or combining NSAIDs with alcohol increases the risk of stomach and intestinal bleeding, other adverse effects, and serious complications. Majority of patients taking over-the-counter pain medication are more concerned about reducing pain and are unaware of the adverse effects. Popular pain-relieving medicines, such as Paracetamol, Aspirin, Ibuprofen, etc., are easily available, and do not require a prescription from physicians. However, they are very effective for reducing pain only if taken as directed. ©2015 Future Market Insights, All Rights Reserved 6 Over-the-Counter Pain Medication Market Analysis Competitive Landscape in the Global Over-the-Counter Pain Medication Market The competition section of the over-the-counter pain medication market provides detailed information about key players competing in the over-the-counter pain medication market based on their market shares, different market strategies, product offerings, marketing approach, and company dashboard. Some of the key players featured in this over-the-counter pain medication market report are Pfizer, Inc., Johnson & Johnson Services, Inc., Bayer AG, Sanofi S.A., GlaxoSmithKline plc., Bristol-Myers Squibb and Company, Teva Pharmaceutical Industries Ltd, Mylan N.V., Merck & Co., Cardinal Health Inc., and others. Request to View TOC @ https://www.futuremarketinsights.com/askus/rep-gb-8947 Click here to Order a free sample ©2015 Future Market Insights, All Rights Reserved 7 To know more about us, please visit our website: www.futuremarketinsights.com For sales queries or new topics email us on: [email protected] For media queries, contact the press office at [email protected] For other queries contact: Hari. T (Sr. Manager - Global Business Development) Future Market Insights: 3rd Floor, 207 Regent Street, London W1B 3HH T: +44 20 7692 8790 | D: +44 20 3287 4268 Email: [email protected] Thank You Future Market Insights Global & Consulting Private Limited (FMI) ©2015 Future Market Insights, All Rights Reserved 8
The rising prevalence of lower back pain, neck pain, headache, migraine, and other acute pain conditions is boosting the market for over-the-counter pain medication. According to a survey conducted by the National Center for Biotechnology Information, over 80% of the population experiences episodes of acute pain conditions in their lifetime due to continuous sitting, sports and activities, sudden falls, other health conditions, lifestyle, hygiene, etc. The expansion of companies offering novel and cost-effective over-the-counter pain medications in Asian countries is expected to fuel the growth of the over-the-counter pain medication market. Companies having patent rights for particular over-the-counter pain medication are targeting potential countries in Asia and Africa. For this purpose, these companies are seeking the approval of respective government authorities in view of commercializing their products. Increased efforts by manufacturers to offer cost-effective over-the-counter pain medication and rapid advancements in pain management are expected to boost the over-the-counter pain medication market.
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