Over-the-Counter (OTC) Drugs Market to Soar at a CAGR of 5% to 2024

Market Study Report Release Global Over-the-Counter (OTC) Drugs Market Size, Status and Forecast 2024 new report to its research database provided with 120 pages including table and figures in it.

Expanding geriatric population base which is highly susceptible to suffer from several diseases such as joint pain will drive global Over-the-Counter (OTC) Drugs Market demand over the forecast period. Growing healthcare awareness among people and cost-effectiveness associated with OTC drugs will further fuel industry growth.

Request a sample copy of Over-the-Counter (OTC) Drugs Market Research Report @ https://www.marketstudyreport.com/request-a-sample/744109/?utm_source=opr-SK

Over-the-Counter (OTC) Drugs Market is set to exceed USD 178 billion by 2024; according to a new research report.

Pharmaceutical companies' switch from Rx to OTC drugs serves as high impact rendering factor on industry growth over the forecast period. This will provide potential growth opportunities for companies to rejuvenate an off-patent brand into a new life-cycle growth phase.

Issues pertaining to substance abuse and less awareness in emerging and underdeveloped economies about medicines are major growth restraining factors. Furthermore, risk associated with taking wrong medicines due to improper self-diagnosis is most likely to make regulations more stringent.

Analgesics accounted for significant value share of the market in 2017. OTC analgesics have application in the treatment of fever, headaches, flu, colds, musculoskeletal injuries & disorders, arthritis, toothaches, and menstrual cramps which will spur demand. Frequent body pain experienced by geriatric population, increasing incidences of arthritis, cancer and cardiovascular disease, and increasing investment in R&D by public & private sector, with major focus to formulate new therapeutics and will drive industry growth.

Cold, cough and flu segment should witness substantial growth over the forecast timeframe. The growth is attributed by demand from increasing number of individuals catching cold and flu multiple times in a year. Non-life-threatening nature of these infections make OTC medication a viable choice for the patient, resulting to escalating demand. Moreover, increasing awareness through media such as TV, social media home pages and print circular will propel industry growth.

Enquire about this report @ https://www.marketstudyreport.com/enquiry-before-buying/744109/?utm_source=opr-SK

U.S. OTC drugs market witness lucrative growth over the forecast period. Increasing preference for the drugs for minor injuries along with increasing self-medication and self-care will spur demand. Moreover, rising healthcare expenditure, favorable regulatory scenario and presence of major players in the country will fuel industry growth.

UK market should witness substantial growth due to increasing awareness pertaining to self-treatment medication. Increased availability of OTC medicines in country will help government to minimize the healthcare cost and provide better access to public and propel business growth over the forecast timeframe.

India OTC drugs market held significant revenue share in 2017. Growing healthcare expenditure, unhealthy dietary habits, expanding population and growing healthcare awareness will drive industry growth. Geriatric population in the country are prone to acquire diseases such as asthma, arthritis, angina, depression, and diabetes which will spur demand.

Some of the companies operating in OTC drugs market includes, Johnson & Johnson Pfizer, Cipla, Dr. Reddy's Laboratories, Takeda, Teva Pharmaceuticals, Sanofi, Bayer and GlaxoSmithKline. Industry players are focusing on new product development and acquisition strategy to gain market share.

For more information on this report, please visit @ https://www.marketstudyreport.com/reports/over-the-counter-otc-drugs-market/?utm_source=FR-SK

Related Reports: -
Global Over-The-Counter (OTC) Drugs Market Research Report 2018
In this report, the global Over-The-Counter (OTC) Drugs market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and...
https://www.marketstudyreport.com/reports/global-over-the-counter-otc-drugs-market-research-report-2018/?utm_source=RR-SK

About Us:
Centralize market research purchases across your entire organization in one place. Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
News: https://www.marketstudyreport.com/category/news-releases/

This release was published on openPR.