Over-the-Counter Drugs Market Analysis & Technological Innovation by Leading Industry Players- ohnson & Johnson Pfizer, Cipla, Dr. Reddy's Laboratories, Takeda, Teva Pharmaceuticals, Sanofi, Bayer & More

MarketStudyReport.com Adds New Over-the-Counter (OTC) Drugs Market 2017 – 2024 research report providing information and By Product, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 120 Pages with table and figures in it.

Over-the-Counter (OTC) Drugs Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 5% CAGR to 2024.

Over-the-Counter (OTC) Drugs Market is set to exceed USD 178 billion by 2024; according to a new research report. Expanding geriatric population base which is highly susceptible to suffer from several diseases such as joint pain will drive global Over-the-Counter (OTC) drugs demand over the forecast period. Growing healthcare awareness among people and cost-effectiveness associated with OTC drugs will further fuel industry growth.

Pharmaceutical companies' switch from Rx to OTC drugs serves as high impact rendering factor on industry growth over the forecast period. This will provide potential growth opportunities for companies to rejuvenate an off-patent brand into a new life-cycle growth phase.

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Issues pertaining to substance abuse and less awareness in emerging and underdeveloped economies about medicines are major growth restraining factors. Furthermore, risk associated with taking wrong medicines due to improper self-diagnosis is most likely to make regulations more stringent.

Analgesics accounted for significant value share of the market in 2016. OTC analgesics have application in the treatment of fever, headaches, flu, colds, musculoskeletal injuries & disorders, arthritis, toothaches, and menstrual cramps which will spur demand. Frequent body pain experienced by geriatric population, increasing incidences of arthritis, cancer and cardiovascular disease, and increasing investment in R&D by public & private sector, with major focus to formulate new therapeutics and will drive industry growth.

Cold, cough and flu segment should witness substantial growth over the forecast timeframe. The growth is attributed by demand from increasing number of individuals catching cold and flu multiple times in a year. Non-life-threatening nature of these infections make OTC medication a viable choice for the patient, resulting to escalating demand. Moreover, increasing awareness through media such as TV, social media home pages and print circular will propel industry growth.

U.S. OTC drugs market witness lucrative growth over the forecast period. Increasing preference for the drugs for minor injuries along with increasing self-medication and self-care will spur demand. Moreover, rising healthcare expenditure, favorable regulatory scenario and presence of major players in the country will fuel industry growth.

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UK market should witness substantial growth due to increasing awareness pertaining to self-treatment medication. Increased availability of OTC medicines in country will help government to minimize the healthcare cost and provide better access to public and propel business growth over the forecast timeframe.

Some of the companies operating in OTC drugs market includes, Johnson & Johnson Pfizer, Cipla, Dr. Reddy's Laboratories, Takeda, Teva Pharmaceuticals, Sanofi, Bayer and GlaxoSmithKline. Industry players are focusing on new product development and acquisition strategy to gain market share.

Table of Content:

Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Over-the-Counter (OTC) Drugs Industry Insights
Chapter 4. Over-the-Counter (OTC) Drugs Market, By Product
Chapter 5. Over-the-Counter (OTC) Drugs Market, By Region
Chapter 6. Company Profiles

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Related Report:

United States Over-the-Counter (OTC) Drugs Market Report 2018

In this report, the United States Over-the-Counter (OTC) Drugs market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

https://www.marketstudyreport.com/reports/united-states-over-the-counter-otc-drugs-market-report-2018/?utm_source=RR-PSR

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