Over the Counter (OTC) Drugs Market to Reach at a CAGR of 8.7% by 2026 with Top Key Companies Reckitt Benckiser Group plc., Piramal Enterprises Ltd., , Cipla, Pfizer Inc., Procter & Gamble, Perrigo Company plc

According to this wide ranging Global Over the Counter (OTC) Drugs Market report, the global market is anticipated to witness a relatively higher growth rate during the forecast period. The key research methodology here by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Under market segmentation, research and analysis is done based on application, vertical, deployment model, end user, and geography. The Over the Counter (OTC) Drugs Market report puts light on many aspects related to the industry and market. The quality of Over the Counter (OTC) Drugs Market research report is at par which gains customer confidence and trust.

Global 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.

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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

Leading Vendors : 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.

Market Definition:

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.

Market Drivers

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
Market Restraints

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

Analgesics
Cold, Cough & Flu Products
Gastrointestinal Products
Ophthalmic Products
Dermatology Products
Others
By End Users

Hospitals
Homecare
Specialty Clinics
Others
By Distribution Channels

Hospital Pharmacy
Online Pharmacy
Retail Pharmacy
Others
By Geography

North America
South America
Europe
Asia-Pacific
Middle East & Africa

Competitive Analysis:

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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