Global Over the Counter (OTC) Drugs Market, By Products Type (Analgesics, Cold, Cough and Flu Products, Gastrointestinal Products, Ophthalmic Products, Dermatology Products, Others) End-Users (Speciality Clinic, Homecare, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Over the counter (OTC) drugs market is expected to gain market growth in the forecast period of 2021-2028. Data Bridge Market Research analyses the market to account to reach the USD of 297.93 billion by 2028 and grow at a CAGR of 6.60% in the above mentioned forecast period.
On the basis of the drug's safety and efficacy, over-the-counter (OTC) drugs are medications that can be taken by the general public without seeking medical advice. OTC medications include pain relievers such as acetaminophen (paracetamol) and ibuprofen, as well as dextromethorphan and cough suppressants. These medications are safe and effective, and they are used to treat diseases that do not necessitate a doctor's direct contact. OTC medications can be found at all pharmacies as well as grocery stores and gas stations.
Rise in the population of elderly people and favourable regulatory policies are the major factor that will enhance the market growth rate. Furthermore, rising patent expirations of many drugs resulting in use as OTC drugs and affordable cost of these drugs are the factors that will expand the over the counter (OTC) drugs market.
Rising adoption of OTC drugs by many pharmaceutical companies and utilization by general people as compared to the prescription drugs will provide beneficial opportunities for the over the counter (OTC) drugs market in the forecast period of 2021-2028.
However, inappropriate use of OTC drugs due to incorrect diagnosis and rising competition among the existing players are the factors that will hinder the market growth. Lack of awareness about the OTC products in rural areas will challenge the over the counter (OTC) drugs market in the forecast period mentioned above.
This over the counter (OTC) drugs market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the over the counter (OTC) drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Over the Counter (OTC) Drugs Market Scope and Market Size
The over the counter (OTC) drugs market is segmented on the basis of product type, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the over the counter (OTC) drugs market is segmented into analgesics, cold, cough and flu products, gastrointestinal products, ophthalmic products, dermatology products and others.
- On the basis of end-users, the over the counter (OTC) drugs market is segmented into speciality clinic, homecare, hospital and others.
- The over the counter (OTC) drugs market is also segmented on the basis of distribution channel into hospital pharmacy, retail pharmacy, online pharmacy and others.
Over the Counter (OTC) Drugs Market Country Level Analysis
The over the counter (OTC) drugs market is segmented on the basis of product type, end-users and distribution channel.
The countries covered in the over the counter (OTC) drugs market report are the U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa.
North America dominates the over the counter (OTC) drugs market due to the presence of major key players, high disposable income, high healthcare expenditure and well-developed healthcare sector in this region. Asia-Pacific is expected to grow during the forecast period of 2021-2028 due to the increasing research and development activities, rising investment in the healthcare sector and growing government support.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Patient Epidemiology Analysis
Over the counter (OTC) drugs market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Competitive Landscape and Global Over the Counter (OTC) Drugs Market Share Analysis
Over the counter (OTC) drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to global over the counter (OTC) drugs market research.
The major players covered in the over the counter (OTC) drugs market report are Johnson & Johnson Private Limited, Dr. Reddy’s Laboratories Ltd., Reckitt Benckiser Group PLC., Takeda Pharmaceutical Company Limited, Sanofi, F. Hoffmann-La Roche Ltd, Bayer AG, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc., Novartis AG, Sun Pharmaceutical Industries Ltd., Alkem Labs, Cipla Inc., Piramal Enterprises Ltd., Pfizer Inc., Procter & Gamble, Perrigo Company plc, Mylan N.V., DAIICHI SANKYO COMPANY, LIMITED among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.