The Over the Counter (OTC) Drugs Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Over the Counter (OTC) Drugs Market is estimated to be USD 148,917.6 Million and predicted to rise to USD 243,686.1 Million with a CAGR of 8.55%. The market is segmented 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 and Other Products). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Convenience of direct purchase, increasing awareness regarding the medications required for minor health issues, Savings enabled by the usage of OTC drugs, Affordability of OTC drugs, Innovations in drugs and High acceptance and adoption in emerging markets are some of the key factors driving the OTC drugs market. Complications involved in taking wrong medication due to lack of knowledge acts as a restrain for the market.
The dermatological products, cough, cold and flu products, vitamins, minerals and supplements, analgesics and gastrointestinal products grabs more than 50% of the market share.
Europe and North America are the major contributors for the market and lead the OTC drugs market due to increase in adoption rates by public. Asia-Pacific region, mainly countries like India and China are expected to grow at the fastest rate in the forecast period.
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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