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OVER-THE-Counter Drugs Market to Witness an Outstanding Growth Forecast to 2024 With Highest Growth Rate
OVER-THE-Counter Drugs Market, OVER-THE-Counter Drugs Market Study, OVER-THE-Counter Drugs Market Size, OVER-THE-Counter Drugs Mar
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 demand over the forecast period. Growing healthcare awareness among people and cost-effectiveness associated with OTC drugs will further fuel industry growth.
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.
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The competitive spectrum of Over-the-Counter Drugs industry, encompassing renowned biggies such as Johnson & Johnson Pfizer, Cipla, Dr. Reddy's Laboratories, Takeda, Teva Pharmaceuticals, Sanofi, Bayer and GlaxoSmithKline. has been comprehensively explored in this report. Furthermore, it also highlights the dominance of the manufacturers region-wise, specifically focusing on the fluctuating price trends of Over-the-Counter Drugs, sales, and revenue.
Scope of Report:
Global Over-the-Counter Drugs market report classifies this industry extensively in terms of the regional landscape.
Analgesics accounted for significant value share of the market in 2016. 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.
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Over-the-Counter (OTC) Drugs Market by Product
Analgesics
Cold, Cough & Flu
Weight Loss
Gastrointestinal
Skin
Mineral and Vitamin Supplements
Sleeping Aids
Ophthalmic
Continued@.............
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