Japan OTC Analgesics Market 2023 Share, Size, Key Players, Revenue Analysis | Prudent Markets

The Japan OTC Analgesics Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Japan OTC Analgesics market. This report explores all the key factors affecting the growth of the global Japan OTC Analgesics market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the Japan OTC Analgesics Market Analysis

Research Scope and Assumption

The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)

The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis

We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses

All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis

Inflation has not been accounted for in order to estimate and forecast the market

Numbers may not add up due to rounding off

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Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Japan OTC Analgesics Market Analysis

Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders

To strategically profile key players and comprehensively analyze their market shares and core competencies

We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Japan OTC Analgesics Market Analysis Executive Summary

OTC stands for Over the Counter Drugs and means that the medicines sold to customers without any prescription from health care professionals, whereas the prescription drugs only sold on prescription to the patients. Size of the OTC market in this research is calculated by totalling the shipment amounts of both OTC (including guidance-needed medicines, first, second, and third-category non-prescription drugs) and designated quasi drugs (which are items that became quasi drugs designated by Ministry of Health, Labour and Welfare).

Market Size and Key Findings

The Japan OTC Analgesics Market Analysis size stood at around USD 6.32 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 1.86% during the forecast period.

Revenue in the OTC Pharmaceuticals market amounts to US$6,302m in 2021. The market is expected to grow annually by 1.86% (CAGR 2021-2028).

Market Dynamics

Market Growth Drivers Analysis

The major factors boosting the growth of the market studied include the increasing demand in topical analgesics, growth in the geriatric population resulting in the rising prevalence of various diseases, and the cost-efficiency of OTC analgesics drugs. With the growing aging population, the demand for pain relief solutions is increasing, as aged people are more prone to chronic pain. The growing awareness of the internet medication in the developed nations is boosting the market growth.

Market Restraints

Most of the patients are preferring self-medications without consulting a doctor or a pharmacist. These medicines can be bought by individuals without a doctors prescription and are safe for consumption without the doctors consent.

COVID-19 impact on Japan OTC Analgesics Market

COVID-19 is an infectious disease caused by the novel coronavirus. Largely unknown before this outbreak across the world, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2021.

Competitive Landscape

Key Players

The market studied is fragmented in nature, owing to the presence of many small and large market players. Some of the major players are Bayer AG, Boehringer Ingelheim International GmbH, Johnson & Johnson, GlaxoSmithKline PLC, Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi SA, Sun Pharmaceutical Industries Ltd, and Takeda Pharmaceutical Company Limited.

Products in Pipeline

In March 2021, Hisamitsu Pharmaceutical Co., Inc. launched Salonpas Arthritis Pain Relief Gel. This medicine is prescription-strength diclofenac, which was approved by the FDA for over-the-counter (OTC) use in 2020.

In September 2020, Dr Reddy's Laboratories launched over-the-counter Diclofenac Sodium topical gel, used for arthritis pain, in the United States market

Notable Recent Deals

Daiichi Sankyos shares edged up nearly 2% in early trading, after the Japanese pharma major released

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

OTC market in 2017 has grown against a backdrop of contribution of some drug efficacies becoming included in new OTC products to invigorate the market and continued stable growth of inbound tourism demand though it subdued from once frantic status. On the other hand, the market in terms of domestic demand tends to be and continues slowing down. Now that the impact of inbound tourism demand to the market has been on the decline, the market needs to be earnestly stimulated in order for it to keep on growing.

The following can be the solutions:

Introducing *switch OTC to the new area of demands, creating a new market using switch OTC that have new efficacies,

Generation of new demand by promoting new products with unprecedented angles,

Finding out potential demands from the existing efficacy by making an appeal from different point of view

Creating a system to communicate and consult with retailers,

Expanding new opportunities of selling the products in association with increase of new entry from different retailing business. These attempts of new product promotions and enhancement of providing information may improve awareness of self-medication and action reform.

Switch OTC is a kind of OTC permitted by MHLW to include ingredients that used to be permitted to contain in ethical drugs that require prescriptions.
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Japan OTC Analgesics Market Analysis Segmentation

By Drug Type:

The Over the Counter (OTC) Analgesics Market is segmented by Type of Drug (Acetaminophen, No steroidal Anti-inflammatory Drug (NSAIDs), Salicylates, and Other Analgesics),

By Distribution Channel:

Distribution Channel it is segmented into (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others Distribution Channels). In today's scenario, the public is increasingly adopting retail pharmacy as a one-stop-shop to buy all the over-the-counter products which can be useful at home, and OTC products along with analgesics are one of the important parts of this distribution channel segment.

Highlighted Segments of Japan OTC Analgesics Market:

Industry Overview: The first section of the research study covers an overview of the global Japan OTC Analgesics Market, market status and prospects, and product range. In addition, it provides highlights of the major segments of the global Market, i.e., region, type, and application segments.

Competitive Analysis: This report illuminates important mergers and acquisitions, business expansion, product or service differences, market concentration, the competitive status of the global Japan OTC Analgesics Market, and market size by player.

Company Profiles and Key Data: This section covers companies profiling the major players in the global Japan OTC Analgesics Market based on the aforementioned revenue, products, business, and other factors.

Market size by type and application: In addition to providing an in-depth analysis of the industry size by type and application, this section provides research on top end users or consumers and potential applications.

Market Dynamics: This report covers the drivers, trends, and opportunities of the global Japan OTC Analgesics Market. This section also includes Porter's analysis of five forces.

Findings and Conclusions: It provides strong recommendations for new as well as established players for securing a position of strength in the global Japan OTC Analgesics Market.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Japan OTC Analgesics Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global Japan OTC Analgesics Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Japan OTC Analgesics market
Chapter 2: Exclusive Summary - the basic information of the Japan OTC Analgesics Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Japan OTC Analgesics
Chapter 4: Presenting the Japan OTC Analgesics Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Japan OTC Analgesics market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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-The report offers all the competitive landscape, growth drivers, applications, market dynamics, and other necessary details as well.

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