August 1, 2022
(press release)
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The Global Over-the-Counter Drugs Market is expected to clock ~US$ 410.48 billion by 2030 owing to the growing incidence of seasonal infections and new OTC drug launched by companies in the market. The growing focus of the population on staying healthy and increasing adoption of OTC drugs to treat common illnesses are some of the key factors, propelling the growth of the OTC drugs market. Many pharmaceutical and nutraceutical companies are focused on developing and launching new drugs. Request a Sample Copy of the Research Report: https://growthplusreports.com/inquiry/request-sample/over-the-counter-drugs-market/7735 Key takeaways from the Over-The-Counter Drugs Market Report In January 2021, Hamdard Laboratories launched 12 new OTC drugs in the Indian market for encouraging immunity. The new product range comprises herbal ingredients. The company also announced health vans for contribution-free samples of these products and discussions by experts. Major players operating in telemedicine market report are Johnson & Johnson, Novartis AG, Teva Pharmaceuticals, GlaxoSmithKline plc, Bayer AG, PGT Healthcare, Pfizer Inc., Boehringer Ingelheim, Merck KGaA, Reckitt Benckiser Group PLC., Glenmark Pharmaceuticals Ltd., Sanofi-Aventis U.S. LLC, and Takeda Pharmaceutical Company Limited, among others.In April 2020, Takeda Pharmaceuticals entered into an agreement with Orifarm Group, a Danish pharmaceutical company to divest a portfolio of select non-core OTC and prescription pharmaceutical products sold in Europe. The global over-the-counter drugs market has been analyzed from two perspectives: product, distribution channels, and region. To read more about the latest highlights related to OTC Drug, get a snapshot of the key highlights entailed in the global over-the-counter drugs market Excerpts from By Product Segmentation Based on product types, the global over the over-the-counter drugs market has been segmented into: Analgesics & Pain RelieversCoughCold & Flu ProductsVitamin & Mineral Supplements (VMS)Gastrointestinal ProductsDermatological ProductsOphthalmic ProductsSleep AidsWeight Loss/Dietary SupplementsSmoking Cessation AidsOthers Weight loss and VMS OTC drugs make up a large portion of the market, nearly one-fourth of the market belongs to this segment. Unlike other, more intense conditions, VMS and weight loss are not particularly critical. OTC products for these conditions are more precautionary than therapeutic or curative. As a result, the number of customers is relatively higher than for other indicators. Large customer bases generate high demand, which leads to high revenue generation. Because of the growing health problem of the population in developed countries, VMS products are extremely popular. In addition, as a result of the coronavirus disease (COVID-19) outbreak, people are becoming more aware of the importance of self-care. This, in turn, increased sales of nutritional supplements and boosted the market growth. Analgesics, on the other hand, are expected to grow rapidly during the forecast period. This is due to an aging population driving up demand for pain relievers, as well as the introduction of new over-the-counter (OTC) drugs and pain relievers. The desire to improve healthcare outcomes drives the global demand for analgesics. This includes pain management, which, in order to be effective, requires a multidisciplinary approach. Excerpts from By Region Segmentation Regionally, the global over-the-counter drugs market has been segmented into North AmericaEuropeAsia PacificRest of the World Over-the-counter drugs market is highly competitive and comprises several major players. North America holds the leading position in the global over-the-counter drugs market, owing to its well-established healthcare structure, followed by Europe, owing to growing patient awareness involving the consumption of OTC drugs, and managing self-medication practices. Europe would remain in second place, owing to the region's growing awareness of the availability of over-the-counter drugs. Asia Pacific is expected to grow rapidly because of the increasing presence of numerous reputed manufacturers. Rising awareness among the population regarding the use of OTC drugs to treat minor health issues such as cold, cough, and headache is driving the growth of OTC drugs market in this region. Moreover, the increasing prevalence of obesity, the growing aging population, and incessant new product launches by the players in the region are boosting the market growth. Report Scope & Segmentation: Report CoverageDetails Market Size in 2021USD ~ 169.1 billion Revenue forecast in 2030USD ~ 410.48 billion Growth RateCAGR of ~ 8.2% from 2022 to 2030 Base year for estimation2021 Forecast period2022-2030 Segments coveredProducts, Distribution Channel Regional scopeNorth America, Europe, Asia Pacific, and the Rest of the World (ROW) VALUE PROPOSITIONS RELATED TO THE REPORT: Powered with Complimentary Analyst Hours and Expert Interviews with Each ReportComprehensive quantitative and qualitative insights at segment and sub-segment levelCovid 19 impact trends and perspectiveGranular insights at global/regional/country levelDeep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environmentBlanket coverage on competitive landscapeWinning imperativesExhaustive coverage on 'Strategic Developments' registered by leading players of the market CUSTOMIZATION OPTIONS: Distributor Landscape AssessmentPricing IntelligenceCustomer Base AssessmentInvestment & Initiatives Analysis'Business Profile' of Key Players Request for customization of this research report at: https://growthplusreports.com/inquiry/customization/over-the-counter-drugs-market/7735 About Us: Growth+Reports is part of GRG Health, a global healthcare knowledge service company. 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