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Over the Counter (OTC) Drugs Market (COVID-19 Impact Analysis) Growth Opportunities, Emerging Trends, Revenue Analysis, Top Key Company’s Profile And Global Future Scope To 2026 | DBMR Updates
Over the Counter (OTC) Drugs Market 2020-2026
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All statistical and numerical data involved in the Over the Counter (OTC) Drugs Market report is characterized with the help of graphs and charts which makes it easy to understand the facts and figures. This Over the Counter (OTC) Drugs Market report contains fundamental, secondary and advanced information related to the global status and trend, market size, sales volume, market share, growth, future trends analysis, segment and forecasts from 2020 - 2026. In addition, this market report provides plentiful insights and business solutions with which it becomes easy to stand apart from the other market players. This market report describes the categorization by companies, region, type & end-use industry.
Market Analysis: Global Over the Counter (OTC) Drugs Market
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.
Key Market Players:
Few of the major competitors currently working in the global over the counter (OTC) drugs market are 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.
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The report on Over the Counter (OTC) Drugs Market covers exhaustive analysis on:
Market Segments
Market Dynamics
Historical Actual Market Size
Market Size & Forecast
Supply & Demand Value Chain
Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Market Drivers and Restraints
Market Definition: Global Over the Counter (OTC) Drugs Market
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.
Over the Counter (OTC) Drugs 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
Over the Counter (OTC) Drugs 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
Segmentation: Global Over the Counter (OTC) Drugs Market
Over the Counter (OTC) Drugs Market : By Products Type
Analgesics
Cold, Cough & Flu Products
Gastrointestinal Products
Ophthalmic Products
Dermatology Products
Others
Over the Counter (OTC) Drugs Market : By End Users
Hospitals
Homecare
Specialty Clinics
Others
Over the Counter (OTC) Drugs Market : By Distribution Channels
Hospital Pharmacy
Online Pharmacy
Retail Pharmacy
Others
Over the Counter (OTC) Drugs Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East & Africa
Key Developments in the Over the Counter (OTC) Drugs Market :
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
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
Over the Counter (OTC) Drugs Market Reports - Table of Contents
Preface
1. Market Definition and Scope
2. Market Segmentation
3. Key Research Objectives
4. Research Highlights
Assumptions and Research Methodology
Executive Summary: Global Over the Counter (OTC) Drugs Market
Market Overview
1. Introduction
2. Overview
3. Market Dynamics
4. Porter’s Five Force Analysis
Key Insights
1. Technological Advancements
2. Pricing Analysis
3. Recent Developments
Global Over the Counter (OTC) Drugs Market Analysis and Forecast, By Product
Global Over the Counter (OTC) Drugs Market Analysis and Forecast, By Detector
Global Over the Counter (OTC) Drugs Market Analysis and Forecast, By Technology
Global Over the Counter (OTC) Drugs Market Analysis and Forecast, By Application
Global Over the Counter (OTC) Drugs Market Analysis and Forecast, By End-user
Global Over the Counter (OTC) Drugs Market Analysis and Forecast, By Region
North America Over the Counter (OTC) Drugs Market Analysis and Forecast
Europe Over the Counter (OTC) Drugs Market Analysis and Forecast
Asia Pacific Over the Counter (OTC) Drugs Market Analysis and Forecast
Latin America Over the Counter (OTC) Drugs Market Analysis and Forecast
Middle East & Africa Over the Counter (OTC) Drugs Market Analysis and Forecast
Competitive Landscape
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