OTC Drug and Dietary Supplement Market 2020 - 2027: Future Scenario and Business Growth Opportunities , Major Driving Factors | Cough and Cold Products, Analgesics, Sleep Aids, Oral Care Products, Ophthalmic Products, Antacids

Over the counter (OTC) drugs are available for the public for their general use. These drugs do not require a prescription from a physician. OTC medicines are available for various medical conditions such as coughs and colds, diarrhea, heartburn, constipation, acne, pain, and others. On the other hand, dietary supplements are available over the counter for fitness purposes. However, buying a dietary supplement with medicinal ingredients requires a prescription from a physicianwhen a person is critically ill or requires treatment. These OTC drugs and nutritional supplements have two forms: branded or generic.

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Major Players Included in this report are as follows:

- Cough and Cold Products
- Vitamins and Dietary Supplements
- Analgesics
- Gastrointestinal Products
- Sleep Aids
- Oral Care Products
- Ophthalmic Products
- Antacids
- Feminine Care
- Others

OTC Drug and Dietary Supplement Market: Regional analysis includes:

•Asia-Pacific(Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

•Europe(Turkey, Germany, Russia UK, Italy, France, etc.)

•North America(the United States, Mexico, and Canada.)

•South America(Brazil etc.)

•The Middle East and Africa(GCC Countries and Egypt.)

The scope of the OTC drug and dietary supplements market includes product, type, form, distribution channel, and region. The market for OTC drug and dietary supplement is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the OTC drug and dietary supplements market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

Industry Insights:

Growing Awareness Regarding General Health Issues -

People nowadays are well aware of general health issues such as cold, cough, allergies, fever, pain, acidity, diarrhea, and skin-related conditions. Major population is focused on having healthy lifestyle by avoiding the consumption of junk food that leads to a rise in lifestyle-related diseases such as diabetes, obesity, and cardiovascular diseases. Growing preference toward maintaining the healthy lifestyle also leads to the consumption of weight-loss products and dietary supplements, such as vitamins, minerals, and supplements. Increase in exposure to the internet has led to greater access to dietary supplements and over the counter (OTC) drugs to consumers, at affordable prices.

Advancements in the pharmaceutical industry, such as predictive modeling, mobile apps, robotics, and diagnostics, are opening new avenues for pharmacists, which can improve their ability to dispense medication, minimize errors, and monitor patient adherence. Rightly dispensed medicinal product will not result in any type of drug abuse, which further builds confidence of the repurchase of OTC products and dietary supplements. Thus, the awareness of general health concerns and advancements in the pharmaceutical industry are driving market growth.

OTC Drug and Dietary Supplement Product-Based Insights -

Based on product, the OTC drug and dietary supplement market is segmented into cough and cold products, vitamins and dietary supplements, analgesics, gastrointestinal products, sleep aids, oral care products, ophthalmic products, antacids, feminine care, and others.

In 2019, the analgesicssegment accounted for the highest share of the market. Growth of this segment is attributed to the growing awareness regarding general health issuesand growing preference for non-prescription drugs over prescription drugs across the world. However, vitamins and dietary supplementssegmentis likely to register the highest CAGR in the global OTC drug and dietary supplementsmarket during the forecast period.

Type-BasedInsights -

Based on type, the OTC drug and dietary supplements market is segmented into branded and generic. The genericsegment held a larger share of the market in 2019; whereas, the samesegment is estimated to register a higher CAGR of 7.1% in the market during the forecast period.

Form -Based Insights -

Based on form, the OTC drug and dietary supplements market is segmented into tablets, capsules, powders, ointments, liquid, and others. The tabletssegment held the largest share of the market in 2019 and is estimated to register the highest CAGR of 7.5% in the market during the forecast period.

Basedon distribution channel, the OTC drug and dietary supplements market is segmented into hospital and retail pharmacies, retail stores, online channels, and others. The hospital and retail pharmaciessegment held the largest share of the market in 2019;however, the online channelssegment is estimated to register the highest CAGR of 7.5% in the market during the forecast period.

Product launches and expansion strategies are commonly adopted by companies to expand their footprint and product portfolio worldwideas well as tomeet the growing demand.

Market Segmentation -

By Type:

- Branded
- Generic

By Form:

- Tablets
- Capsules
- Powders
- Ointments
- Liquid
- Others

By Distribution Channel:

- Hospital and Retail Pharmacies
- Retail Stores
- Online Channels
- Others

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