OVER THE COUNTER DRUGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2022 to 2028)

Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription (without a prescription) from the healthcare professional, as they are legally allowed to be sold by pharmacists without a prescription. When people follow the directions on the label and as directed by a health care professional, over-the-counter medicines are both safe and effective. Over-the-counter drugs treat a variety of illnesses and their symptoms and help cure some diseases simply and without the cost of seeing a doctor.

Market Dynamics:

Increase in disease burden, increase in demand for OTC drugs, rising trend of self-medication, the outbreak of COVID-19, and inclination of pharma companies toward OTC drugs from RX drugs are major factors expected to drive growth of the global during the counter drugs market over the forecast period.

In June 2022, Glenmark Pharmaceuticals Ltd. acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd. in the U.S. The acquisition includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg used to treat and prevent ulcers in the stomach and intestine, the company said in a statement.

In July 2020, Novartis announced a new initiative to help patients in low-income and lower-middle-income countries access affordable medicines to treat the major symptoms of COVID-19, a critical need in the absence of a vaccine or curative treatment. The Novartis COVID-19 portfolio includes 15 generic and OTC medicines from Sandoz division addresses urgent unmet needs of low- and lower-middle-income countries to treat patients with COVID-19 symptoms.

Key features of the study:

• This report provides in-depth analysis of the global over the counter drugs market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global over the counter drugs market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Pfizer Inc., Perrigo Company PLC, GlaxoSmithKline PLC, Mylan NV, Bayer AG, Reckitt Benckiser Group PLC, Johnson and Johnson, Sanofi, and Takeda Pharmaceutical Company Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global over the counter drugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global over the counter drugs market.

Detailed Segmentation:

• Global Over the Counter Drugs Market By Product Type:
• • Cough, Cold, and Flu Products
  • Analgesics
  • Dermatology Products
  • Gastrointestinal Products
  • Vitamins, Mineral, and Supplements (VMS)
  • Weight-loss/Dietary Products
  • Ophthalmic Products
  • Sleeping Aids
  • Other Product Types
• Global Over the Counter Drugs Market By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacy
  • Other Distribution Channels
• Global Over the Counter Drugs Market By Geography:
  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • South America
• Company Profiles:
  • Pfizer Inc.
  • Perrigo Company PLC
  • GlaxoSmithKline PLC
  • Mylan NV
  • Bayer AG
  • Reckitt Benckiser Group PLC
  • Johnson and Johnson
  • Sanofi
  • Takeda Pharmaceutical Company Ltd.