Over the Counter (OTC) Drugs Market to Grow at an Impressive Rate of 9.86% During Forecast Period | TechSci Research

Growth in awareness related to general health concerns is expected to drive the growth of global over the counter (OTC) drugs market.

According to TechSci Research report, “Global Over the Counter (OTC) Drugs Market By Product (Cough, Cold & Flu, Vitamins, Mineral, & Supplements (VMS), Analgesics, Gastrointestinal Products, Dermatology Products, Others), By Route of Administration (Oral, Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition, Forecast & Opportunities, 2026”, Global Over the Counter (OTC) drugs market stood at USD154.01 billion in 2020 and is expected to grow at a CAGR of around 9.86% during the forecast period. This can be ascribed to the growing prevalence of various chronic diseases such as diabetes, cancer, cardiovascular diseases, renal disorders, among others.

This has, in turn, increased the patient pool worldwide, thereby positively influencing the market growth through 2026. Additionally, growing awareness regarding general health concerns and advancements in the healthcare industry is further expected to support the market growth over the next few years. However, the influx of new innovative drugs for the treatment of various diseases can restrict market growth over the next few years. Furthermore, the lack of seamless reclassification of drugs from prescription medicines to over-the-counter drugs can restrict the market growth during the forecast period. Besides, substance abuse and lesser awareness can further slowdown the market growth over the next few years.

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Global over the counter (OTC) drugs market can be segmented based on product, route of administration, dosage form, distribution channel, region, and company. Based on distribution channel, the market can be categorized into retail pharmacy, hospital pharmacy and e-pharmacy. The retail pharmacy segment dominated the market with an overall share of 52.69% on account of various benefits associated with retail pharmacies, such as convenience, easy availability, among others. The e-pharmacies segment is expected to register the highest growth during the forecast period on account of the widespread penetration of various e pharmacies worldwide.

Johnson & Johnson, Bayer AG, Novartis AG, GlaxoSmithKline Plc.-Pfizer, Inc., Sanofi S.A., Perrigo Company Plc., Reckitt Benckiser Group Plc., Sun Pharmaceutical Industries Ltd., The Procter & Gamble Company, Teva Pharmaceutical Industries Limited, Dr. Reddy’s Laboratories Ltd., Zydus Takeda Healthcare Pvt. Ltd., Mylan NV, Cipla Ltd., Alkem Laboratories Limited, among others. The various players operating in the market are adopting strategies such as product launches, mergers & acquisitions, among others to stay competitive in the market and have an edge over the other players operating in the market.

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“Asia-Pacific region is anticipated to register the highest growth in the global over the counter (OTC) drugs market during the forecast period on account of growing focus of pharmaceutical companies in the region to develop over the counter drugs especially in countries like India and China. Furthermore, growing awareness pertaining to maintaining a healthy lifestyle has shifted the focus of the population residing in the region towards various over the counter vitamin and mineral supplement products, thereby supporting market growth.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Over the Counter (OTC) Drugs Market By Product (Cough, Cold & Flu, Vitamins, Mineral, & Supplements (VMS), Analgesics, Gastrointestinal Products, Dermatology Products, Others), By Route of Administration (Oral, Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of global over the counter (OTC) drugs market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global over the counter (OTC) drugs market.

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