According to the report “Over the Counter (OTC) Drugs“, 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.
1) By Product Type:
• Cold and Flu Products
• Dermatological Products
• Gastrointestinal Products
• Weight Loss Products
• Sleep Aids
• Ophthalmic Products
• Smoking Cession Aids
• Other Products
2) By Geography:
• North America
• Latin America
• Middle-East and Africa
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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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