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Over the Counter (OTC) Drugs Market to See Massive Growth by 2027 | Novartis AG, Bayer AG, Sanofi, Pfizer, GlaxoSmithKline PLC

06-29-2020 10:55 AM CET | Health & Medicine

Press release from: HTF Market Intelligence Consulting Private Limited

Over the Counter (OTC) Drugs Market

Over the Counter (OTC) Drugs Market

A new research document is added in HTF MI database of 200 pages, titled as 'Global Over the Counter (OTC) Drugs Market Size study with COVID-19 impact, by Product Type (Cough, Cold, and Flu Products, Analgesics, Dermatology Products, Gastrointestinal Products, Vitamins, Mineral, and Supplements (VMS), Weight-loss/Dietary Products, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacy, Others) and Regional Forecasts 2020-2027' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Asia-Pacific, Europe, South America, Middle East & Africa and important players/vendors such as Johnson and Johnson, Novartis AG, Bayer AG, Sanofi, Pfizer, GlaxoSmithKline PLC etc. The Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2020-2027.

Access sample report @https://www.htfmarketreport.com/sample-report/2681061-global-over-the-counter-34

Summary
Global Over the Counter (OTC) Drugs Market is valued approximately USD 266 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2020-2027. Over the Counter (OTC) drugs are also referred as non-prescription medicines, as these can be bought without doctor’s prescriptions. OTC drugs are safe if they are dispensed as per the instructions given by healthcare professionals. OTC drugs are normally regulated according to their active pharmaceutical ingredient (API) instead of final products. By regulating APIs rather than specific drug formulations, government bodies allow manufacturers the autonomy to formulate ingredients, or mixtures of materials, into proprietary combinations. Also, it contains non-nutrient chemicals, which offers biological benefit to the body. Further, the demand for disinfectant products is remarkably growing, as a preventive measure for COVID-19, which has resulted in the rise in demand for OTC drugs & painkillers. That is the short-term impact to market growth. As the production of OTC drugs is less significant due to the lockdown in various countries. Thus, it has forced the companies to develop the post-COVID strategies to avoid decline and promote market growth in the near future. Increasing consumption of dietary supplements, improvement in lifestyle and age-related diseases and growing awareness regarding general health concerns are the few factors responsible for high CAGR of the market over the forecast period.

For instance, according to Council for Responsible Nutrition, the U.S.-based trade association, about 76% of Americans of all of all ages are using dietary supplements, an increase of around 64% from 2008. Among all ages, the adults aged 55 & above consume the dietary supplements most, which is about 80% in 2017 increased from 74% since 2016. This, in turn, is expected to accelerate the demand for Over the Counter (OTC) Drugs, thus contributing to the growth of the global market. However, stringent regulatory policies by governing bodies and lack of seamless reclassification of drugs are the few factors expected to hamper the growth of the market over the forecast period of 2020-2027.

Get Customization in the Report, Enquire Now @https://www.htfmarketreport.com/enquiry-before-buy/2681061-global-over-the-counter-34

Major market player included in this report are:
Johnson and Johnson, Novartis AG, Bayer AG, Sanofi, Pfizer, GlaxoSmithKline PLC, Perrigo Company PLC, Reckitt Benckiser Group PLC, Takeda Pharmaceutical Company Ltd.

The detailed segments and sub-segment of the market are explained below:
By Product Type:
Cough, Cold, and Flu Products
Analgesics
Dermatology Products
Gastrointestinal Products
Vitamins, Mineral, and Supplements (VMS)
Weight-loss/Dietary Products
Others

By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacy
Others

By Region:
North America, US, Canada, Mexico, Europe, Germany, France, Italy, UK, Spain , Rest of Europe, Asia Pacific, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Rest of South America, Middle East & Africa, Saudi Arabia, UAE, Qatar, South Africa, Rest of Middle East & Africa

Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Buy this report @https://www.htfmarketreport.com/buy-now?format=1&report=2681061

Target Audience of the Global Over the Counter (OTC) Drugs Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Over the Counter (OTC) Drugs Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Over the Counter (OTC) Drugs Market Dynamics
Chapter 4. Global Over the Counter (OTC) Drugs Market Industry Analysis
Chapter 5. Global Over the Counter (OTC) Drugs Market, by Product Type
Chapter 6. Global Over the Counter (OTC) Drugs Market, by Distribution Channel
....Continued

View Detailed Table of Content @https://www.htfmarketreport.com/reports/2681061-global-over-the-counter-34

It's vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.

Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.

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