openPR Logo
Press release

Over-the-Counter (OTC) Drugs Market : Eminent Players – Bayer, Sanofi, Pfizer, Johnson & Johnson, GloxoSmithKline, Takeda, Dr. Reddy’s Laboratories, Cipla

02-19-2019 02:11 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Over-the-Counter Drugs Market

Over-the-Counter Drugs Market

With well-informed consumers leaning toward self-medication and demanding cost reduction in healthcare, over-the-counter (OTC) drugs market outlook has been witnessing a dramatic transformation in the last few years. Since OTC drugs do not require a doctor’s visit or a known prescription, these drugs are quite cost and time effective. Many regulatory bodies across the globe that are responsible for deciding which drugs should be available over the counter and which should be sold only based on a prescription, are now shifting an increasing number of medicines from the prescription to over-the-counter segment. A study by CHPA in fact, had stated decades earlier, that this paradigm switch is likely to save close to USD 20 billion every year. The backdrop of cost-saving coupled with public demand has indeed propelled OTC drugs industry that is expected to depict a profitable growth path over 2017-2024.

Vitamins, minerals, and health supplements comprise an essential chunk of global OTC drugs market. Consumers in developed nations such as U.S., UK, Germany, and Japan who are more aware of the benefits of taking vitamins and minerals as supplements, have depicted a tendency to purchase such medicines and administer them without the requirement of a visit to the doctor. With changing lifestyle demands such as requirement for weight loss, increased hair growth, and more, many consumers have been increasingly depending on OTC drugs, which is likely to massively stimulate over-the-counter drugs market share. Apart from supplements though, cold, cough, and flu medication and analgesics constitute a major share of OTC drugs market. Like health supplements, these are also used by consumers without the requirement of prior advice from the doctor, owing to which OTC drugs market size from these segments has been exhibiting an exponential growth graph.

Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/1884

The OTC drugs industry has been stimulated by intensive consumer demand for making certain drugs available to the public without the requirement of a prescription. For instance, lately it has been debated in the US that the birth control pill should be made available to consumers without the requirement of a prescription just like the condom. As instructions for safe usage of hormonal birth control pills are very clearly mentioned in every medication pack, it is being argued by many that women need not require a doctor’s prescription for the same. The FDA at present is in discussions regarding the same, and in the event of approval, the switching of birth control pills from the prescription to OTC category will provide a major stimulus to the OTC drugs market.

It is prudent to note that consumer demand also borders on the subject of making STI and chronic disease medication available over the counter. Numerous people afflicted with chronic diseases like diabetes and cancer are known to lead rather stressful lives. In consequence, it is being argued that if they would be able to acquire medication without requiring a visit to the doctor every time, it would decrease some of their stress. Many people apparently skip medication for STIs, solely on the premise of embarrassment or fear of judgement – deterrents that can be eradicated if STI medications are available without prescription. This circumstance has encouraged regulatory bodies to switch many medicines from prescription to OTC category, which has propelled U.S. OTC drugs market, which now boasts of more than 700 products.

Make Inquiry about this report @ https://www.gminsights.com/inquiry-before-buying/1884

The growing appetite for self-medication and healthcare cost curtailment has led to OTC drugs market expansion in major economies of the world. The U.S. with China and Japan accounted for nearly 50% of the OTC drugs industry share in 2016. The growth of the OTC drugs industry might slow down in the US due to market saturation, but is expected to increase with a phenomenal rate in China, owing to the growing geriatric population in the country. Europe OTC drugs market size is also expected to witness major expansion, driven by the fact that the governments of countries such as UK and Germany have been striving to decrease healthcare costs.

Regulatory bodies have been stringent about controlling the usage of certain drugs by keeping them confined to the prescription segment, as these drugs can be used for substance abuse. However, the growing demand from consumers about decreasing the restraints on drugs for chronic diseases and the rapidly increasing awareness regarding the correct usage of drugs will continue to stimulate OTC drugs industry. As per estimates, OTC drugs market size, which was pegged at USD 114 billion in 2016, is forecast to witness a CAGR of 5% between 2017 and 2024.

Report Content

Chapter 1. Methodology
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition & forecast parameters
1.2. Data sources
1.2.1. Secondary
1.2.2. Primary

Chapter 2. Executive Summary
2.1. Over-the-counter (OTC) drugs industry 3600 synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Regional trends

Chapter 3. Over-the-counter (OTC) Drugs Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Pharmaceutical companies switching from Rx to OTC drugs especially in the U.S
3.3.1.2. Growing trend of self-medication in developing economies
3.3.1.3. Significant cost savings due to OTC drug usage in Asia pacific and Latin America
3.3.2. Industry pitfalls & challenges
3.3.2.1. Several concerns pertaining to incorrect diagnosis and substance abuse
3.4. Growth potential analysis
3.4.1. By product
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.6. Porter's analysis
3.7. Competitive landscape, 2017
3.7.1. Business overview
3.7.2. Revenue analysis
3.7.3. Product landscape
3.7.4. Strategy dashboard
3.8. PESTEL analysis

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Blog : http://news-researchers.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Over-the-Counter (OTC) Drugs Market : Eminent Players – Bayer, Sanofi, Pfizer, Johnson & Johnson, GloxoSmithKline, Takeda, Dr. Reddy’s Laboratories, Cipla here

News-ID: 1600185 • Views: 157

More Releases from Global Market Insights, Inc.

How Will The Netherlands Impel Europe Inland Waterways Vessel Market Growth?
Escalating freight transportation through waterways and growing marine passenger traffic will push the growth of Europe inland waterways vessel market. Europe has witnessed a considerable surge in trade activities via inland waterways, especially in Western Europe. Inland waterways vessels are highly being adopted due to their benefits, such as cost-effectiveness, congestion-free transportation, and reliability. In Europe, the Netherlands and France are popular tourist destinations, which will significantly contribute to marine
How Will Tractor-Based Autonomous Farm Equipment Market Fare Over 2017-2024?
Global autonomous farm equipment market outlook is driven by growing utilization of tractors, harvesters and UAVs to obtain higher productivity. Implementation of autonomous devices helps to reduce the redundant labor-intensive farm operations. The consistently lowering count of labor availability will further support the industry growth. Rising inclinations toward precision farming will stimulate autonomous farm equipment market trends over the forecast timeframe. Farmers have been progressively adopting the advanced systems owing
How Will The Thriving Global Tourism Landscape Influence Water Taxi Market Growt …
As household incomes surge in the wake of the rapid enhancement of living standards, the global water taxi market trends are expected to witness a substantial boost owing to the proliferation of leisure and tourism activities across the globe. Water taxis provide travelers the opportunity to enjoy numerous sightseeing experiences through scenic tours, waterfront cruises, historic landmark cruises as well as water activities like snorkeling, etc. Furthermore, the steady advancements
How Will Europe Emerge As A Key Contender In Catamarans Market Landscape Over 20 …
Growing disposable income and enhancing global economy are some of the factors that will favor catamarans market share expansion by 2024. Augmenting inclination of people towards recreational activities such as sailing, boat racing, motorsports, and cruising has resulted in substantial growth in demand of high-performance ships. Furthermore, escalating disposable income per capita is one of the prominent aspects contributing to prevalence of ships which feature luxurious spaces, ease of maneuverability,

All 5 Releases


More Releases for OTC

Investigation for Long-Term Investors in shares of Volkswagen AG (OTC: VWAGY / O …
An investigation on behalf of current long-term investors in shares of Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) was announced over potential breaches of fiduciary duties by certain officers and directors at Volkswagen AG. Investors who purchased shares of Volkswagen AG (OTC: VWAGY / OTC: VLKAF / OTC: VWAPY) and currently hold any of those Volkswagen AG shares have certain options and should contact the Shareholders Foundation at
OTC: VWAGY / OTC: VLKAF / OTC: VWAPY Shareholder Notice: Update in Lawsuit again …
The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Volkswagen AG (OTC: VWAGY) (OTC: VWAPY) shares. Investors, who purchased shares of Volkswagen AG (OTC: VWAGY) (OTC: VLKAF) (OTC: VWAPY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On September 25, 2015, a lawsuit was filed against Volkswagen AG (alleged securities laws violations. The plaintiff claimed that the defendants
Foods Matrix Inc. Exploring OTC Markets Listing
Foods Matrix Inc. (FMI), a US based food processing startup is exploring options to list on the OTC Markets. FMI is in talks to acquire a distressed food processing unit in the state of Punjab, India for US $3 million. The deal may be sealed by the end of November, 2018, post completion of the ongoing due diligence. FMI may initially quote on the pink sheet segment of the OTC Markets
03-14-2018 | Health & Medicine
Fact.MR
OTC Analgesics Market Report 2017-22: Pharmacy to Remain the Most Lucrative OTC …
A fresh study, covering “OTC Analgesics Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022” has been broadcasted to wide online repository of Fact MR, which presents deep focus on the healthcare market. This smart study contains precise data that offers a clear insight about market current scenario and future projections for the benefit of readers. Moreover, the study enclosed significant data which tends to make
11-28-2017 | Health & Medicine
Fact.MR
7 Key Projections for OTC Analgesics Market
The global OTC analgesics market is projected to register an above-average CAGR during 2017 to 2022. Global sales of OTC analgesics is estimated to account for nearly US$ 25,000 Mn revenues by 2022-end. Request For Sample Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=75 The trend of using off-label drugs that are affordable and unapproved, but effective in treating diseases, has been witnessing an upsurge over the past few years. Various off-label drugs including tricyclic antidepressants, antihistamines,
OTC Drug Market Report Research : 2017
Reports And Markets Publish a New Market Research Report On –" OTC Drug Market Report Research : 2017" Access Full Report With Table Of Contents @ https://www.reportsandmarkets.com/reports/asia-pacific-otc-drug-market-report-2017-1541262 In this report, the Asia-Pacific OTC Drug market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report split Asia-Pacific into several