openPR Logo
Press release

Over The Counter Drugs Market to Reach USD 233.6 Billion in 2028; Rising Geriatric Population and Cost-effectiveness of These Products to Augment Growth, says Fortune Business Insights™

09-02-2021 12:21 PM CET | Health & Medicine

Press release from: Fortune Business Insight

The global OTC drugs market is set to gain momentum from the increasing inclination of manufacturers towards over-the-counter medications from prescription drugs. In 2019, Bayer AG, for instance, mentioned that it is planning to change a few of its prescriptive products that are suitable for self-care to OTC. This information is given by Fortune Business Insights™ in a report, titled, “OTC Drugs Market, 2021-2028.” As per the report, the market size is projected to grow from USD 157.0 billion in 2021 to USD 233.6 billion in 2028 at a CAGR of 5.8% in the forecast period. It stood at USD 148.0 billion in 2020.

Get Sample PDF:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/over-the-counter-otc-drugs-market-105433

COVID-19 Pandemic to Propel Growth in Consumer Health Segment Globally

The COVID-19 pandemic has disrupted import and export activities of various companies worldwide. But, a few of them, including GlaxoSmithKline Plc, Sanofi S.A., Johnson & Johnson Private Limited, and others have declared that they have exhibited growth in terms of revenue in their consumer health or OTC segment. As per a report published by Johnson & Johnson Private Limited in 2020, the demand for TYLENOL surged amid the pandemic. Our research reports will help you to select the best strategy to take your business to a whole new level.

Segments-

Cough & Cold RemediesSegment Held 21.8% Share in 2020: Fortune Business Insights™

Based on the product type, the market is divided into analgesics, cold & cough remedies, digestives & intestinal remedies, skin treatment, vitamins & minerals, and others. Out of these, the cough & cold remedies segment earned 21.8% in terms of the over the counter drugs market share in 2020. The cold & cough remedies segment is anticipated to dominate in the near future because of the surging prevalence of cough and cold owing to seasonal changes among populations.

Quick Buy Over The Counter Drugs Market

https://www.fortunebusinessinsights.com/checkout-page/105433

Report Coverage-

The report aims to analyze this industry by considering contributions, prospects, and trends. It offers detailed profiles of every key company operating in the industry to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as collaborations, new product launches, partnerships, mergers, joint ventures, and acquisitions.

Drivers & Restraints-

Increasing Launch of Innovative Products by Companies to Bolster Growth

The presence of multiple OTC drug manufacturers in the market is set to aid growth across the globe. Most of them are persistently striving to introduce novel over-the-counter drugs by conducting extensive research and development activities. In December 2020, for instance, Sonoma Pharmaceuticals, Inc. joined hands with Crown Laboratories, Inc. to market and sell their products in the U.S. OTC dermatological market. It would enable the latter to sell Sonoma’s Microcyn technology gels and dermal sprays targeting pain and itch. Such initiatives by major companies are expected to accelerate the OTC drugs market growth in the upcoming years.

However, drug addiction and drug abusing practices by using pain relief, diarrhea, and cough medicines may restrain the market growth. As per a report by the Substance Abuse and Mental Health Services Administration (SAMHSA) and the Addiction Center, 3.1 million people belonging to the age group of 12 to 15 years have used cold and cough medication for getting high in the U.S.

Speak to Analyst:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/over-the-counter-otc-drugs-market-105433

Regional Insights-

Surging Preference for OTC Drugs to Help North America Dominate

Geographically, North America generated USD 58.4 billion in 2020 in terms of revenue and is likely to remain at the forefront throughout the forthcoming years. The rising shift of people towards OTC drugs compared to prescription products is set to boost growth. In Europe, the increasing awareness among people regarding the availability of these drugs would help it to remain in the second position. Asia Pacific is set to showcase the highest CAGR because of the affordability of these drugs and rising aging populations.

Competitive Landscape-

Key Players Focus on Unveiling State-of-the-art Medicines to Intensify Competition

The global market contains a large number of companies that are currently trying to conduct R&D activities for launching innovative drugs to cater to the high demand worldwide. A few others are also participating in the partnership strategy to co-develop and distribute new products. Below are the two industry developments:

September 2020: Hamdard Laboratories unveiled six over the counter products for treating common disorders, such as cough and cold. These were created by using ancient Unani formulations that blend the advantages of natural herbs.
June 2019: Sanofi and Roche signed an agreement to the exclusive rights to Tamiflu. It is mainly used to treat flu or influenza in the U.S. It would enable the former to lead the FDA negotiations, distribution, scientific engagement, and marketing of the drug.
A list of reputed OTC drug manufacturers operating in the global market:

Johnson & Johnson Services Inc. (New Jersey, US)
Bayer AG (Leverkusen, Germany)
Novartis AG (Basel, Switzerland)
Sanofi S.A (Paris, France)
Pfizer (New York, US)
GlaxoSmithKline Plc (Brentford, UK)
Boehringer Ingelheim International GmbH (Ingelheim, Germany)
Reckitt Benckiser Group PLC (Slough, UK)
Takeda Pharmaceutical Company Ltd (Tokyo, Japan)
Other Players
Ask For Customization

https://www.fortunebusinessinsights.com/enquiry/customization/over-the-counter-otc-drugs-market-105433

Table of Content

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
New Product Launches, Key Players
Key Developments, Mergers, Acquisitions, etc.
Impact of Covid-19 on the Market
Global OTC Drugs Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product
Analgesics
Cold & Cough Remedies
Digestives & Intestinal Remedies
Skin Treatment
Vitamins & Minerals
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Drug Stores & Retail Pharmacies
Hospital Pharmacies
Online Pharmacies
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia pacific
Latin America
Middle East & Africa
ToC Continue…

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email:sales@fortunebusinessinsights.com

LinkedIn | Twitter | Blogs

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 Drugs Market to Reach USD 233.6 Billion in 2028; Rising Geriatric Population and Cost-effectiveness of These Products to Augment Growth, says Fortune Business Insights™ here

News-ID: 2378541 • Views: 186

More Releases from Fortune Business Insight

Recycled Plastics Market Expected Value USD 76.23 Billion by 2028 | Top Leading …
According to research study by Fortune Business Insights™ The global recycled plastic market size is projected to reach USD 72.6 billion by the end of 2026. The presence of several large scale companies across the world will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, the market was worth USD 37.8 billion in 2018 and
3D Printing Materials Market Reach USD 3.78 billion by 2026 | Top Leading Player …
The global 3D printing materials market size is predicted to reach USD 3.78 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period. The increasing application of 3D printing in various end-user industries such as aerospace, automotive, military, and healthcare will have a positive impact on the 3D printing materials market revenue during the forecast period. Moreover, one of the major 3D printing materials market trends include the
Military Gas Mask Market Share, Growth, Trends, Development, Revenue Future Grow …
The global military gas mask market is set to gain momentum from the increasing need to protect homeland security and defense forces personnel from harmful gases, such as chlorine and sulfur. This information is given in an upcoming report by Fortune Business Insights™, titled, “Military Gas Mask Market Size, Share & Industry Analysis, By Mask Type (Full face Gas Mask, Half face Gas Mask), By Product Type (Non-Powered, Powered), By
Global Aerostructure Market to Exhibit a CAGR of 4.07% from 2019-2026; Increasin …
The global aerostructures market will benefit from the increasing demand for improved and reliable aircraft structures across the world. According to a report published by Fortune Business Insights, titled “Aerostructure Market Size, Share & Industry Analysis, By Component (Wings, Nose, Fuselage, Nacelle, Empennage & Pylon and Others), By Material (Metals, Composites and Alloys), By Platform (Fixed-wing aircraft (Commercial Aircraft, Military Aircraft, and UAV’s) and Rotary-wing Aircraft (Commercial Aircraft, Military Aircraft,

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