Over-the-counter Drugs Market Analysis With The Market Scenario, Distinguishing Regions, And Global Key Players - 2028

Over-the-counter Drugs Market Report 2021 added recently by CMI, evaluates the industry in terms of market size, market share, revenue estimation, and geographical outlook. The study also delivers a precise summary that illustrates the competitive milieu, growth opportunities and application landscape of the Over-the-counter Drugs depending on the industry's financial and non-financial impact. The complete range of information related to the Global Over-the-counter Drugs Market is obtained through various sources and this obtained bulk of the information is arranged, processed, and represented by a group of specialists through the application of different methodological techniques and analytical tools such as SWOT analysis to generate a whole set of trade-based study.

To Access the Sample Copy Report: https://www.coherentmarketinsights.com/insight/request-sample/1218

Over-the-Counter Drugs are medications sold directly to the consumer without a need for a physician's prescription, rather than prescription drugs, which can only be provided to medical users possessing a valid prescription from a health care provider. They are generally accessible to anyone over the age of eighteen and can generally be purchased over-the-counter. Common over-the-counter drugs include aspirin, acetaminophen, ibuprofen, naproxen, and indomethacin. One of the key reasons behind the massive penetration of OTC drugs is product innovation. Pharmaceutical companies are focused on continuous research and development activities, in order to launch novel products. Recently, in January 2021, Hamdard Laboratories launched 12 OTC medicines that will help boost immunity. Similarly, in April 2021, Bal Pharmaca launched its first OTC product Eye Spa.

Thus, factors can potentially augment growth of the over-the-counter drugs market.
Another key factor governing the development of the market is a favorable regulatory framework. Regulatory agencies in many countries have increasingly approved over-the-counter drugs for common headaches, colds, stomach aches, and many more. Such factors can stimulate growth of the over-the-counter drugs market in the near future. Recently, in February 2020, GlaxoSmithKline plc received the U.S. Food and Drug Administration (FDA) approval for three over-the-counter (OTC) drugs indicated for arthritis pain, red eyes, and itchy eyes.

Aspirin is available in different strength and concentration levels, depending on the amount of pain you wish to relieve. Common lower strength versions of aspirin include the generic form of aspirin and the trade name Ultram for pregnant women. Aspirin is available in different strength and concentration levels to treat various diseases, including headache, heart disease, and ulcers.

When it comes to regional impact, North America seems to be gaining significant traction in the over-the-counter drugs market since there is a leading trend among pharmaceutical companies to switch from Rx to OTC drugs. On the contrary, Asia Pacific is exhibiting promising signs with rising awareness among people regarding OTC medicines.

There are many other types of over-the-counter medications available throughout the U.S. Many people prefer to purchase these types of medications over-the-counter, because they do not require a prescription, and they are more affordable than prescription medicines. Some of these over-the-counter treatments can be used as preventative care for some conditions such as diabetes. However, there are certain factors that could leave a negative impact on the development of the market. For instance, there has been reported incidence of substance abuse, which remains one of the major hurdles. Besides, lack of awareness in rural areas could potentially impede growth of the over-the-counter drugs market.

Competitive Analysis:

The key players are highly focusing on innovation in production technologies to improve efficiency and shelf life. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in optimal strategies. Some of the players are Alkem Laboratories Limited, GlaxoSmithKline Plc., Boehringer Ingelheim GmbH, Glenmark Pharmaceuticals Ltd., Cipla Ltd., Johnson and Johnson Inc., Pfizer, Inc., Novartis AG, Merck KGaA, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.

Buy This Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/1218

What’s in the offering:

The research study evaluates the overall size of the Over-the-counter Drugs Market, by making use of a bottom-up approach, wherein data for different industry verticals, and end-user industries and its applications across various product types have been recorded and predicted during the forecast period. These segments and sub-segments have been documented from the industry specialists and professionals, as well as company representatives, and are outwardly validated by analyzing previous years’ data of these segments and sub-segments for getting an accurate and complete market size.

Thanks for reading this article, you can also get individual chapter wise section or region wise report versions like North America, Europe or Asia.

Contact Us

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.