This Over the Counter (OTC) Drugs Market report provides an overview of the Pharmaceutical industry which is gaining momentum in the last few years. The market report uses a range of steps for collecting, recording, analysing and interpreting market data to make this report all-inclusive. It also offers an overview of the industry that might promote interest among prospective investors, large corporations and everyday users who could participate in the next big opportunity or make their lives just a little easier. The Over the Counter (OTC) Drugs Market report contains the list of leading competitors, strategic industry analysis and the insights of key factors influencing the pharmaceutical industry.
The major competitors currently working in the global over the counter (OTC) drugs market are Johnson & Johnson Services, Inc., Dr. Reddy’s Laboratories Ltd., 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, Reckitt Benckiser Group plc., Piramal Enterprises Ltd., , Cipla, Pfizer Inc., Procter & Gamble, Perrigo Company plc, Mylan N.V., DAIICHI SANKYO COMPANY, LIMITED among others.
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Global Over the Counter (OTC) Drugs Market By Products Type (Analgesics, Cold, Cough & Flu Products, Gastrointestinal Products, Ophthalmic Products, Dermatology Products, Others), End Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
over the counter (OTC) drugs market is rising gradually with a substantial CAGR of 8.7% in the forecast period of 2019-2026. Adoption of OTC drugs by many pharmaceutical companies and usage by general people over prescription drugs brings a great opportunity to the market growth.
Over The Counter (OTC) drugs are medications that can be taken without the consultation from healthcare professionals by the general public based on the safety and efficacy of the drugs. Some examples of OTC drugs are acetaminophen (paracetamol) and ibuprofen for pain relief, dextromethorphan and cough suppressants. These drugs are safe and effective and are used for the treatment of conditions that do not require the direct consultation of any doctor. OTC drugs are available in all pharmacies and others places such as grocery stores and gas stations.
According to the Consumer Healthcare Products Association, the use of OTCs has given rise to the allergy sufferers from 66% (2009) to 75% (2015). An estimated to 81% of adults prefer to use OTC medications as primary option for minor diseases and conditions.
- Favorable regulatory policies and conditions for approval of OTC drugs will boost the market growth in the forecast period
- Increasing geriatric population which is highly susceptible to several diseases such as joint pain is another factor uplifting the growth of this market
- Affordable cost associated with OTC drugs is a major driver of market growth
- Increasing patent expirations of many drugs resulting in use as OTC drugs drives the market growth
- Lack of health and OTC products awareness in rural areas is an obstruction to the market growth
- Incorrect diagnosis results in inappropriate use of OTC drugs acting as restrain to the market growth
- Competition amongst the existing players is another factor restricting this market growth
Table Of Contents: Global Over the Counter (OTC) Drugs Market
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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Segmentation: Global Over the Counter (OTC) Drugs Market
By Products Type
- Cold, Cough & Flu Products
- Gastrointestinal Products
- Ophthalmic Products
- Dermatology Products
By End Users
- Specialty Clinics
By Distribution Channels
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
- North America
- South America
- Middle East & Africa
Key Developments in the Market:
- In July 2019, Sanofi announced an agreement with F. Hoffmann-La Roche Ltd to get the exclusive OTC rights to Tamiflu, an antiviral drug used for the prevention and treatment of patients with influenza or flu. By this agreement, Sanofi will handle the FDA negotiation for the OTC switch and receive the marketing and distribution rights of Tamiflu in the United States
- In March 2018, GlaxoSmithKline plc purchased 36.5% stake in the Consumer Healthcare Joint Venture from Novartis AG. This agreement provides GlaxoSmithKline plc business of sensodyne toothpaste and over-the-counter pills from Novartis AG. By this deal, GlaxoSmithKline plc will own the OTC business of the company and Novartis AG will be enabled to focus on its core businesses
Global over the counter (OTC) drugs market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of over the counter (OTC) drugs market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Reasons to Purchase this Report
- Current and future of global over the counter (OTC) drugs market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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