According to the report “India OTC Drugs Market”, published by Market Data Forecast, the global market is projected to reach USD 15.48 Billion by 2021, at a CAGR of 19.4% from 2016 to 2021.
For full report refer to http://www.marketdataforecast.com/market-reports/india-over-the-counter-drugs-market-804/
India is the 11th largest market for OTC drugs in the world. Government and different pharmaceuticals companies are taking up various initiatives to generate awareness about different drugs and shift Rx to OTC. Urban India is catching up with the notion of OTC drugs more than the rural India due to the advent of technology and advertisements, high work stress levels and increasing health awareness. Huge population base in the region is expected to drive the sales of OTC drugs to new heights in the next five years
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Increasing disposable income of the people along with an increase in the health consciousness and growing number of aging population with new social diseases in the region are the two major factors Driving the market in the region. Increasing awareness about the cost effectiveness of self-medication and OTC medicines is also a crucial factor fuelling the market growth. However, doctor’s willingness to prescribe OTC and prohibition of advertising for common ailments are the major restraints hindering the growth of the market.
1)By Formulation Type
2)By Product Type
•Cough, Cold and Flu Drugs
•Smoking Cessation Aids
•Vitamins and Minerals
•Weight Loss/Diet Drugs
•Others (Ear Drops & Diuretics)
3)By Distribution Channels
•Pharmacies / Drug stores,
•Convenience Stores and
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Some of the major companies dominating the market are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Boehringer Ingelheim, Sanofi, Takeda, Cipla and Dabur India Limited
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