Recent Developments
Major players operating in the global over-the-counter drugs market are focused on adopting merger and acquisition strategies to expand their product portfolio. For instance, in January 2018, Nuvo Pharmaceuticals, Inc. acquired Piedmont Pharmaceuticals LL’s product and existing royalty streams for ‘Resultz’, an OTC treatment for head lice.
Global Over-the-Counter Drugs Market: Drivers
Increasing expenditure on personal care products is expected to propel growth of the global over-the-counter drugs market over the forecast period. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018.
LIMITED TIME OFFER – Hurry Up!!!
Buy Now To Avail Flat 30% Off
Purchase This Premium Report With Discounted Rate @ https://www.coherentmarketinsights.com/insight/buy-now/1218
Moreover, increasing adoption of OTC is also expected to propel growth of the global over-the-counter drugs market over the forecast period. For instance, according to Consumer Healthcare Protection Act 2015, an estimated 81% adults in the U.S. use OTC medicines as their first response to minor ailments.
High prevalence of digestion disorder is expected to propel growth of the global over-the-counter drugs market over the forecast period. For instance, according to American Nutrition Association, 2016, around 70 million people suffer from some form of digestion disorder such as indigestion, acid reflux, irritable bowel syndrome, and constipation daily.
Get Sample Report With Latest Covid19 Analysis @ https://www.coherentmarketinsights.com/insight/request-sample/1218
Market Trends:
North America is expected to witness significant growth in the global over-the-counter drugs market, owing to high number of OTC stores in the region. For instance, according to Consumer Healthcare Protection Act 2015, U.S. had an around 54,000 pharmacies in 2015 and over 750,000 retail outlets selling OTC drugs.
Africa is also expected to witness significant growth in the global over-the-counter drugs market, owing to high prevalence of acute respiratory infections in the region. High prevalence of acute respiratory infections is expected to propel growth of the seasonal influenza vaccines market. For instance, the study, ‘Viral and Bacterial Etiologies of Acute Respiratory Infections among Children under 5 Years in Senegal’, published in the journal Microbiology Insights, in February 2018, found that adenovirus was the most prevalent (50%) among selected virus species, followed by influenza virus, rhinovirus, enterovirus, and respiratory syncytial virus.
Increasing rate of self-medication is expected to propel growth of the global over-the-counter drugs market over the forecast period. For instance, according to the study, ‘Self-medication with over the counter drugs, prevalence of risky practice and its associated factors in pharmacy outlets of Asmara, Eritrea’, published in February 2019, in the journal BMC Public Health, 93.7% of the survey participants practiced self-medication with OTC drugs. The most frequently preferred OTC drug group was analgesics followed by antipyretics, and cough and cold preparations.
Global Over-the-Counter Drugs Market: Opportunities
Regional expansion is expected to offer lucrative growth opportunities for players in the global over-the-counter drugs market. For instance, in March 2016, Takeda Pharmaceuticals started overseas sales of OTC brand—Alinamin in Vietnam, India, Hong-Kong, and China.
Global Over-the-Counter Drugs Market: Restraints
Addiction and substance abuse and side-effects associated with consumption of wrong medications due to lack of awareness are some of the factors hindering growth of the global over-the-counter drugs market. For instance, the number of people suffering from allergies due to OTC medication increased from 66% in 2009 to 75% in 2015 in the U.S., according to Consumer Healthcare Products Association.
Global Over-the-Counter Drugs Market: Competitive Landscape
Major players operating in the global over-the-counter drugs market include, Alkem Laboratories Limited, Boehringer Ingelheim GmbH, Cipla Ltd., GlaxoSmithKline Plc., Glenmark Pharmaceuticals Ltd., Johnson and Johnson Inc., Merck KGaA, Novartis AG, Pfizer, Inc., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.
Global Over-the-Counter Drugs Market: Segmentation
On the basis of product type, the global over-the-counter drugs market is segmented into:
- Analgesics and Pain Relievers
- Cough, Cold and Flu Products
- Dermatological Products
- Vitamin & Mineral Supplements
- Gastrointestinal Products
- Sleeping Aids
- Smoking Cessation Aids
- Ophthalmic Products
- Others
On the basis of administration route, the global over-the-counter drugs market is segmented into:
- Oral
- Solids
- Liquids
- Topical
- Others
On the basis of distribution channel, the global over-the-counter drugs market is segmented into:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Request Here For PDF Brochure With Latest Insights @ https://www.coherentmarketinsights.com/insight/request-pdf/1218
Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Over-the-counter Drugs Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Over-the-counter Drugs Industry Impact
Chapter 2 Global Over-the-counter Drugs Competition by Types, Applications, and Top Regions and Countries
2.1 Global Over-the-counter Drugs (Volume and Value) by Type
2.3 Global Over-the-counter Drugs (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Over-the-counter Drugs Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Over-the-counter Drugs Market Analysis
Chapter 6 East Asia Over-the-counter Drugs Market Analysis
Chapter 7 Europe Over-the-counter Drugs Market Analysis
Chapter 8 South Asia Over-the-counter Drugs Market Analysis
Chapter 9 Southeast Asia Over-the-counter Drugs Market Analysis
Chapter 10 Middle East Over-the-counter Drugs Market Analysis
Chapter 11 Africa Over-the-counter Drugs Market Analysis
Chapter 12 Oceania Over-the-counter Drugs Market Analysis
Chapter 13 South America Over-the-counter Drugs Market Analysis
Chapter 14 Company Profiles and Key Figures in Over-the-counter Drugs Business
Chapter 15 Global Over-the-counter Drugs Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology
Do You Have Specific Requirement? Ask To Our Experts: https://www.coherentmarketinsights.com/insight/talk-to-analyst/1218
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837