The size of the Over the Counter (OTC) Drugs Market in Germany has been estimated at USD 7.83 billion in 2022 and is projected to reach USD 8.71 billion by 2027, at a CAGR of 2.15% during the forecast period from 2022 to 2027.
Over the Counter (OTC) drugs can be dispensed without the prescription of healthcare professionals. These drugs are safe & effective and can be bought at the pharmacies and local stores, over the counter. These drugs are occasionally used for common disease conditions (cold & flu, analgesia, cough, skin diseases, and other disease conditions). Most commonly marketing OTC drugs in Germany include Acetaminophen, Aspirin, Ibuprofen, Voltaren Gel, and Dorithricin, among others. OTC drugs are developed under the OTC Monograph process or through the New Drug Application (NDA) process. These drugs come with a monograph, on which the ingredients of the drug, recommended dosage and user instructions are written.
Rising import of OTC drugs, increasing self-medication, growing healthcare awareness among the public, and rising health care costs are some of the factors driving the growth of the OTC drugs market in Germany. Also, an increasing number of chemists & pharma dispensaries and the key benefits offered by OTC drugs such as quick availability, affordability, ease of access, & customer-empowering qualities are further stimulating the growth of OTC medicines.
However, lack of proper reimbursement policies, strict regulations for the import of the medicines, including OTC drugs, complications involved in taking wrong medication due to lack of knowledge, and availability of other therapies (such as homeopathy) are expected to restrain the growth of OTC drugs market in Germany.
This research report is segmented & sub-segmented the Germany OTC Drugs Market into the following categories:
Of these, Analgesics, Cough, Cold & Flu, Dermatologicals, and Gastrointestinal drugs account for the largest market share in Germany Over the Counter (OTC) drugs market, by product type in 2019.
Key market participants leading the German OTC Pharmaceutical market are Harbin Pharmaceutical Group, Jiangzhong Pharmaceutical Co., Ltd, Renhe (Group) Development Co., Ltd, Tianjin SK&F Pharmaceutical Co., Ltd, Wyeth Pharmaceutical, Xi'an-Janssen Pharmaceutical, Yangtze River Pharmaceutical Group, Yunnan Baiyao Group Co., Ltd, Zhejiang Conba Pharmaceutical Co., Ltd, GlaxoSmithKline, Bayer Beijing, and Novartis.
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