Hundreds of Millions of Over the Counter Drugs Sold Everyday Making it a Lucrative Multibillion Dollar Industry With the Likes of GSK, Novartis, Pfizer etc., all Vying for the Top Spot

Oct 03, 2016, 09:45 ET from Market Data Forecast

HYDERABAD, India, October 3, 2016 /PRNewswire/ --

According to the report "Over The Counter (OTC) Drugs Market by Product and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016-2021)", published by Market Data Forecast, the global market is projected to reach USD 188.19 Billion by 2021, at a CAGR of 7.4% from 2016 to 2021.

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Drugs that are safe and effective for use by the general public without a prescription are defined as over-the-counter (OTC) drugs. Some OTC medicines relieve aches, pains and itches. Some prevent or cure diseases, like tooth decay and athlete's foot. Others help manage recurring problems, like migraines. OTC medications can carry risk. There is the possibility of side effects, drug or food interactions, or harm due to excessive doses.

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The global OTC drugs market will continue to be largely driven by demographics, economic trends and changes in cultural attitudes towards self-medication. An increasing interest in self-medication in both developed and developing countries has been identified as a major contributor to market growth in recent years. With increasing penetration of chemists, especially in rural areas, the demand for OTC drugs will be increasing in order to maintain the availability in these areas. Benefits of using OTC over prescription drugs include easy accessibility, lower costs, convenience and customer-empowering qualities.

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By Product Type:

  • Analgesics
  • Cough
  • Cold and Flu Products
  • Dermatological Products
  • Gastrointestinal Products
  • Vitamins
  • Minerals
  • Weight Loss Products
  • Sleep Aids
  • Ophthalmic Products
  • Smoking Cession Aids
  • Other Products

By Geography:

GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, GSK Boehringer Ingelheim, Sanofi, Takeda and PGT Healthcare are the top companies that contribute to OTC drugs market.

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The Global Over the Counter Drugs Market Covers: 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter's five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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