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Singapore Over the Counter Drugs Market Research Report - By Formulation Type, Product Type, Distribution - Analysis, Size, Share, Trends & Growth Forecast (220

Published: January, 2022
ID: 743
Pages: 135

The size of the Over Counter Drugs Market in Singapore was worth USD 643.25 million in 2022 and estimated to reach USD 838.71 million by the end of 2027 with a growing potential of 5.45%.

Singapore is placed in fourth place, given its excellent political and economic outlook by Business Environment Rankings for Asia. Singapore OTC Pharmaceuticals market accounts for 1.2% of the total Asia-Pacific OTC market.

The term Over the Counter (OTC) refers to pharmaceuticals bought across the counter without any prescription from physicians. Consumers in Singapore are gradually increasing to take the route of self-medication due to growing pressure on healthcare budgets. Together with the Reducing output from drug manufacturing Companies, R&D efforts have led to a better focus on advancing innovative over-the-counter and consumer health drugs. With the rising aged population and middle class, it is not astonishing that over-the-counter is one of the fastest-growing segments in Singapore. The growth of the aging population (>65) is increasing rapidly and will accounts for 19% of the population in Singapore by 2030. Demand for OTC drugs is growing as patients are taking a proactive approach in treating ailments.

Increasing pressure from consumers, drug regulators, and manufacturers to renovate prescription medications to Over-the-Counter (OTC) non-prescription status are the major drivers for the growth of the OTC drugs market. Cost-aware insurance programs will drive the market even further by encouraging customers to self-treatment regarding chronic conditions by providing increased incentives for the newly approved OTC medicines.

Cost sensitivity of production and very high competition among the key players are the major factors restraining the growth of the market.

This research report is segmented & sub-segmented the Singapore OTC Drugs Market into the following categories:

  • By Formulation Type                              
    • Tablets      
    • Liquids      
    • Ointments               
    • Sprays       
  • By Product Type                       
    • Cough, Cold, and Flu Drugs
    • Analgesics
    • Dermatologicals    
    • Gastrointestinal Drugs
    • Antiseptics              
    • Anti-Allergy Drugs
    • Smoking Cessation Aids     
    • Ophthalmic Drugs
    • Vitamins and Minerals       
    • Sleep Aids             
    • Weight Loss/Diet Products            
    • Others (Ear Drops & Diuretics)     
  • By Distribution Channel                         
    • Pharmacies/Drugstores     
    • Supermarkets/Hypermarkets         
    • Convenience stores            
    • Others (Online Drugstores)

Some of the key players dominating the Over the Counter Drugs market in Singapore are Eu Yan Sang International Ltd, Bayer AG, Johnson & Johnson, Glaxo SmithKline PLC, Merck Pte Ltd, Sunward Pharmaceutical Pte Ltd, Beacons Pharmaceuticals (Pte) Ltd.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments               

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 By Formulation Type                              

                                5.1.1 Tablets      

                                5.1.2 Liquids      

                                5.1.3 Ointments               

                                5.1.4 Sprays       

                5.2 By Product Type                       

                                5.2.1 Cough, Cold and Flu Drugs

                                5.2.2 Analgesics

                                5.2.3 Dermatologicals    

                                5.2.4 Gastrointestinal Drugs

                                5.2.5 Antiseptics              

                                5.2.6 Anti-Allergy Drugs

                                5.2.7 Smoking Cessation Aids     

                                5.2.8 Ophthalmic Drugs

                                5.2.9 Vitamins and Minerals       

                                5.2.10 Sleep Aids             

                                5.2.11 Weight Loss/Diet Products            

                                5.2.12 Others (Ear Drops & Diuretics)     

                5.3 By Distribution Channel                         

                                5.3.1 Pharmacies/Drugstores     

                                5.3.2 Supermarkets/Hypermarkets         

                                5.3.3 Convenience stores            

                                5.3.4 Others (Online Drugstores)             

6. Strategic Analysis                                       

                6.1 PESTLE analysis                         

                                6.1.1 Political     

                                6.1.2 Economic 

                                6.1.3 Social         

                                6.1.4 Technological         

                                6.1.5 Legal          

                                6.1.6 Environmental       

                6.2 Porter’s Five analysis                              

                                6.2.1 Bargaining Power of Suppliers        

                                6.2.2 Bargaining Power of Consumers    

                                6.2.3 Threat of New Entrants     

                                6.2.4 Threat of Substitute Products and Services              

                                6.2.5 Competitive Rivalry within the Industry     

7. Market Leaders' Analysis                                        

                7.1 Eu Yan Sang international Ltd                              

                                7.1.1 Overview 

                                7.1.2 Product Analysis   

                                7.1.3 Strategic Evaluation and Operations            

                                7.1.4 Financial analysis  

                                7.1.5 Legal issues             

                                7.1.6 Recent Developments       

                                7.1.7 SWOT analysis       

                                7.1.8 Analyst View          

                7.2 Bayer AG                     

                7.3 Merck pte Ltd                            

                7.4 GlaxoSmithKline Plc                                

                7.5 Johnson & Johnson                 

                7.6 Beacons Pharmaceuticals (Pte) Ltd                  

                7.7 Sunward Pharmaceutical Pte Ltd                       

8. Competitive Landscape                                           

                8.1 Market share analysis                            

                8.2 Merger and Acquisition Analysis                       

                8.3 Agreements, collaborations and Joint Ventures                         

                8.4 New Product Launches                         

9. Expert Opinions                                          

                9.1 Market Outlook                        

                9.2 Investment Opportunities                   

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

Singapore Over the Counter Drugs Market

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