(I-BusinessNews.Com, January 12, 2018 ) According to the report Over the Counter (OTC) Drugs Market, published by Market Data Forecast, the Global market is projected to reach USD 243,686.1 Million by 2022, at a CAGR of 8.55% from 2017 to 2022.
OTC drugs can be brought from a pharmacist without a doctors prescription. They are safe and effective. After age verification they are dispensed to a customer by the pharmacist. Aspirin is one of the most widely used OTC drug. They are made by OTC monograph. Sometimes new drugs are also discovered. They are easily available.
Over The Counter (OTC) Drugs Market: Drivers & Restraints Paradigm shift towards the usage of OTC drugs, cheap prices coupled with increasing cost of healthcare services, and more and more people becoming self-reliant are driving the growth of this market.
Increasing cases of drug abuse and lack of awareness and market penetration in less developed regions are the factors hindering market growth.
Over The Counter (OTC) Drugs Market: Segmentation By Product Type Analgesics Cough, Cold and Flu Products Vitamins and Minerals Dermatological Products Gastrointestinal Products Ophthalmic Products Sleep Aid Products Weight Loss/Diet Products Others By Formulation Type Tablets Liquids Ointments Sprays By Distribution Channels Pharmacies Supermarkets/Hypermarkets Convenience stores Others (Online Drug Stores) By Geography North America o United States o Canada Europe o U.K o Spain o Germany o Italy o France Asia-Pacific o China o India o Japan o Australia o South Korea Latin America o Brazil o Argentina o Mexico o Rest of Latin America Middle East & Africa o Middle-East o Africa
Over The Counter (OTC) Drugs Market: Overview Analgesics and dermatological are the segments which led the market in 2016. This trend is expected to continue in the forecast period. North America accounted for the largest market share closely tailed by Europe. Asia Pacific is the third largest market. Increasing adoption rates is fuelling the demand in European countries. China and India are spearheading the Asian growth spurt. High growth rates are expected in the emerging economies of Latin America like Brazil. Reduced generic medicine prescription in US has brought about a downturn in the North American markets.
Over The Counter (OTC) Drugs Market: Key Players Key players in the market include GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, GSK Boehringer Ingelheim, Sanofi, Takeda and PGT Healthcare. Other players in the market include GlaxoSmithKline, Johnson and Johnson, Novartis and Sanofi.
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