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South Korea Over the Counter (OTC) Drugs Market Strategic Business Report 2021

Monday, October 17, 2016 2:19
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(Before It's News)

According to the report South Korea “Over the Counter Drugs Market” by Product Type, by Formulation Type and by Distribution Channel – Industry Analysis, Size, Share, Growth, Trends, and Forecast (2016-2021), published by Market Data Forecast, the market is projected to reach USD 5,782 million by 2021, at a CAGR of 7.11% from 2016 to 2021.

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South Korea’s rapid economic growth has fostered the development of a robust healthcare sector in a short period. Its pharmaceutical market is ranked 13th in the world, in terms of revenue generated and the third largest in Asia.

Free sample for the report is available at

Growing awareness about various health conditions and necessary treatments, rise in geriatric population are the few factors propelling the growth of South Korea OTC Drugs Market. Vitamins and Minerals segment sales has majorly benefited with these trends in geriatric population. 

However, issues of substance abuse and current restrictions for direct distribution of certain OTC drugs through supermarket/hypermarkets and convenience stores are acting as a hurdle for rise of South Korea OTC Drugs market.

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The South Korea OTC Drugs Market is segmented as follows:

1)By Applications
•Cough, Cold and Flu Drugs
•Gastrointestinal Drugs
•Anti-Allergy Drugs
•Smoking Cessation Aids
•Vitamins and Minerals
•Sleep Aids
•Weight Loss/Diet Drugs
•Others (Ear Drops & Diuretics)

2)By Formulation Type

3)By Distribution Channels
•Pharmacies/Drug Stores
•Convenience Stores
•Others (Online Drugstores)

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Some of the major companies offering OTC drugs in South Korea are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi, Boehringer Ingelheim, Takeda Pharmaceuticals, Yuhan Corporation, Hanmi Pharmaceuticals, Dong Wha Pharmaceuticals. 

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Market Data Forecast is a firm working in the areas of market research and business intelligence. We have rich experience in research across major industry segments like Healthcare, Agriculture, Food & Beverages etc. and we cater to the needs of both individual and corporate clients. Our research services contribute to key business areas like business process improvement, key decision making and developing appropriate corporate strategy. We are truly committed to our clients and other stakeholders for providing customized research services of the highest quality all the while being an organisation that’s trusted for its integrity, respected for its accountability, and admired for its excellence, by both clients and competitors alike.

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