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Over-the-Counter (OTC) Drugs Market Size, Share, Price Trend | Industry Report, 2024

OTC Drugs Market size exceeded USD 114 Billion in 2016 and is forecast to grow with over 5% CAGR from 2017 to 2024.

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Over-the-Counter (OTC) Drugs Market Size, Share, Price Trend | Industry Report, 2024

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  1. Over-the-Counter (OTC) Drugs Market size over $178 bn by 2024: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Clinical Trial Management System Market : • U.S. OTC drugs market size 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 size held significant revenue share in 2016. Growing healthcare expenditure, unhealthy dietary habits, expanding population and growing healthcare awareness will drive industry growth.

  3. Continued... • 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.

  4. U.S. OTC Drugs Market size, By Product, 2013-2024 (USD Billion)

  5. Browse Full Market Research Report On Clinical Trial Management System Market @ https://goo.gl/vyT97C Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/1884

  6. 360° Analysis • Application Trends • OTC drugs industry is highly fragmented across geographies owing to presence of numerous local and international companies. It is one of the oldest business segment in pharmaceutical industry that has evolved profusely over past few decades. Ever increasing number of industry participants and OTC products has been resulting in industry expansion around the globe. In recent times, shift of Rx drugs to OTC category has further augmented industry growth and will continue to influence growth in near future. Regulations pertaining to OTC drugs have played a major role in shaping up the present thriving industry and should favor during the forecast period. • Regional Trends • Over the counter drugs market in China is second biggest in the world. Availability of various OTC drugs in community pharmacies contributes largely to country’s market value. • Competitive Market Share • Prominent industry participants include companies such as Bayer, Sanofi, Pfizer, Johnson & Johnson, GloxoSmithKline, Takeda, Dr. Reddy’s Laboratories, Cipla and many others. Merger and acquisition is most practiced strategy across the industry. To gain competitive advantage, companies acquire each other’s OTC business division. In recent times, competitive landscape has witness major changes in top 10 companies ranking.

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