Sellbyville, Delaware, Jan. 03, 2018 (GLOBE NEWSWIRE) --
Global OTC Drugs Market is estimated to surpass USD 178 billion by 2024; according to a new research report by Global Market Insights. 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.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1884
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.
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.
Browse key industry insights spread across 120 pages with 47 market data tables & 8 figures & charts from this 2017 report Over-the-Counter (OTC) Drugs Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/over-the-counter-otc-drugs-market
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. 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.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1884
Browse Related Reports:
PEGylated Drugs Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, China, India, Japan, Australia, Argentina, Brazil, Mexico, South Africa, Saudi Arabia), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/pegylated-drugs-market
Contraceptives Market Size By Product {Drugs [Oral Contraceptive Pills, Injectable Contraceptives, Topical Contraceptives], Devices [Condoms (Male, Female), Diaphragms, Contraceptive Sponges, Vaginal Rings, Subdermal Implants, Intra-uterine Devices (Copper, Hormonal)}, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, India, Brazil, South Africa) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/contraceptives-market-report
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
Connect with us: Facebook | Google+ | LinkedIn | Twitter