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Over The Counter (OTC) Drugs Market Industry Status and Sales Volume to 2023

Over The Counter (OTC) Drugs Market By Product Type, And By Region - Global Industry Analysis, Size, Share, Growth, Trends And Forecasts (2018–2023)
pradeep laddu | 27.09.2018
Market Data Forecast © pradeep laddu
Over the counter (OTC) drugs are also known as non-prescription medicines, which can be bought at the pharmacies and grocery stores without doctor’s prescriptions. These drugs are used for the treatment of various health conditions that can be self-medicated. OTC drugs include pain relievers, cough and cold remedies and other medicines. Some of the OTC drugs which are used widely are Aspirin, ibuprofen, and Acetaminophen.

In the year 2018, Global OTC drugs Market was valued at USD 175.47 Million. By the year 2023, it is expected to reach USD 264.46 Million at pace of 8.55% CAGR.

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Underlying Causes:
The global OTC drugs market is rapidly growing due to increasing awareness towards self-medication among global population, improving performance in terms of drugs forms, dosages, and usage, increasing investments in R&D activities to discover new formulas to cure minor ailments, advancements in healthcare and pharmaceutical industries, and rising number of aging population are the important driving factors for OTC drugs market. The other factors include high penetration in emerging markets, favorable regulatory policies, and inclination of pharmaceutical companies to switch from Rx to OTC drugs.

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Geographic Segmentation:
Based on geography the OTC drugs market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global OTC drugs market followed by Europe due to increasing healthcare industries, rising funds by government for the development of healthcare facilities, increasing self-medication, rising healthcare expenditure, favorable regulatory policies and presence of major players in this region is expected to fuel the industry growth. Asia-Pacific regions like India, China and Japan are fast growing market due to increasing healthcare expenditure, increasing geriatric population and rising prevalence of diseases are expected to contribute high growth rate for OTC drugs market during the forecast period.

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Leading companies for Global OTC drugs market are Pfizer Inc., Novartis International AG, Roche Holding AG, Merck & Co., Inc., Sanofi S.A, Johnson & Johnson, Gilead Sciences, GlaxoSmithKline plc., Bayer Healthcare AG, AstraZeneca plc, Alacer Corp., Alcon Inc., Alfresa Pharma Corporation, Alkalon A/S, Alliance Healthcare, Allergan, Plc., Reckitt Benckiser Plc., Bausch & Lomb, AbbVie Inc., and The Colgate-Palmolive Company.

Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

Contact Info:
Name: Mr. Abhishek Shukla
Organization: MarketDataForecast™
Address: 2nd Floor, Lakeview Plaza, Kavuri Hills, Hyderabad, Telangana 500033, India.
Phone: +1-888-702-9626