Pune, India, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The global OTC drugs market is set to gain momentum from the increasing inclination of manufacturers towards over the counter medications from prescription drugs. In 2019, Bayer AG, for instance, mentioned that it is planning to change a few of its prescriptive products that are suitable for self-care to OTC. This information is given by Fortune Business Insights™ in a report, titled, “OTC Drugs Market, 2021-2028.” As per the report, the market size is projected to grow from USD 157.0 billion in 2021 to USD 233.6 billion in 2028 at a CAGR of 5.8% in the forecast period. It stood at USD 148.0 billion in 2020.
Industry Developments:
- January 2021: Hamdard Laboratories launched 12 new OTC drugs in the Indian market for boosting immunity. The new product range contains ingredients, such as Jamun powder, Gilo, Kalonji, Zafran, and Aswagandhi. The company also introduced health vans for offering free samples of these products and consultations by experts.
- September 2020: Hamdard Laboratories unveiled six over the counter products for treating common disorders, such as cough and cold. These were created by using ancient Unani formulations that blend the advantages of natural herbs.
Get Sample Report PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/over-the-counter-otc-drugs-market-105433
Report Scope
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.8% |
| 2028 Value Projection | USD 233.6 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 157.0 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 140 |
COVID-19 Pandemic to Propel Growth in Consumer Health Segment Globally
The COVID-19 pandemic has disrupted import and export activities of various companies worldwide. But, a few of them, including GlaxoSmithKline Plc, Sanofi S.A., Johnson & Johnson Private Limited, and others have declared that they have exhibited growth in terms of revenue in their consumer health or OTC segment. As per a report published by Johnson & Johnson Private Limited in 2020, the demand for TYLENOL surged amid the pandemic. Our research reports will help you to select the best strategy to take your business to a whole new level.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/over-the-counter-otc-drugs-market-105433
Drivers & Restraints-
Rising Investments in Supply Chain through Retail Stores to Boost Growth
The cost-effectiveness and accessibility of various OTC type of drugs in several retail stores across the globe is anticipated to propel the over the counter drugs market growth in the upcoming years. In emerging and developed countries, the private sector is increasingly investing in the enhancement of the supply chain through numerous distribution outlets and retail stores. The Consumer Healthcare Products Association, for instance, stated in February 2021 that there are around 54,000 pharmacies in the U.S. alone. Also, more than 750,000 retail outlets are currently selling OTC products.
Regional Insights-
Presence of Cipla Inc., Procter & Gamble, and TajPharma to Favor Growth in Asia Pacific
In 2020, North America procured USD 58.4 billion in terms of revenue. It is set to remain at the forefront backed by the high demand for OTC drugs, as compared to prescription ones. Asia Pacific is expected to grow rapidly because of the increasing presence of numerous reputed manufacturers, such as TajPharma, Procter & Gamble, The Himalaya Drug Company, GlaxoSmithKline plc, and Cipla Inc. in this region. Europe would remain in the second position, followed by North America owing to the surging awareness of the availability of over the counter drugs in the region.
Quick Buy - Over The Counter Drugs Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105433
Segments-
Cold & Cough Remedies Segment to Dominate Backed by its Surging Prevalence
Based on the distribution channel, the market is segregated into drug stores & retail pharmacies, hospital pharmacies, and online pharmacies. By the product type, it is classified into analgesics, cold & cough remedies, digestives & intestinal remedies, skin treatment, vitamins & minerals, and others. Amongst these, the cold & cough remedies segment is likely to dominate the market throughout the forthcoming years. This growth is attributable to the rising prevalence of cough and cold among people on account of season changes. In 2020, the cough & cold remedies segment earned 21.8% in terms of the OTC drugs market share.
| Segmentation | By Product Type
|
By Distribution Channel
| |
By Geography
|
A list of reputed OTC drug manufacturers operating in the global market:
- Johnson & Johnson Services Inc. (New Jersey, US)
- Bayer AG (Leverkusen, Germany)
- Novartis AG (Basel, Switzerland)
- Sanofi S.A (Paris, France)
- Pfizer (New York, US)
- GlaxoSmithKline Plc (Brentford, UK)
- Boehringer Ingelheim International GmbH (Ingelheim, Germany)
- Reckitt Benckiser Group PLC (Slough, UK)
- Takeda Pharmaceutical Company Ltd (Tokyo, Japan)
- Other Players
Speak To Our Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/over-the-counter-otc-drugs-market-105433
Table of Content:
- Global OTC Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Analgesics
- Cold & Cough Remedies
- Digestives & Intestinal Remedies
- Skin Treatment
- Vitamins & Minerals
- Others
- Market Analysis, Insights and Forecast – By Distribution Channels
- Drug Stores & Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America OTC Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Analgesics
- Cold & Cough Remedies
- Digestives & Intestinal Remedies
- Skin Treatment
- Vitamins & Minerals
- Others
- Market Analysis, Insights and Forecast – By Distribution Channels
- Drug Stores & Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe OTC Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Analgesics
- Cold & Cough Remedies
- Digestives & Intestinal Remedies
- Skin Treatment
- Vitamins & Minerals
- Others
- Market Analysis, Insights and Forecast – By Distribution Channels
- Drug Stores & Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- Germany
- U.K.
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia Pacific OTC Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Analgesics
- Cold & Cough Remedies
- Digestives & Intestinal Remedies
- Skin Treatment
- Vitamins & Minerals
- Others
- Market Analysis, Insights and Forecast – By Distribution Channels
- Drug Stores & Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
TOC Continued………
Ask for Customization of this Report: https://www.fortunebusinessinsights.com/enquiry/customization/over-the-counter-otc-drugs-market-105433
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APA : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
