OTC Drugs Market Size, Growth Analysis by Top Players 2021: and Latest Trends with Global Industry Share, Business Development Plans and Strategies, CAGR and Revenue Forecast to 2030

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In a recent published report, Kenneth Research has updated the market report for OTC Drugs Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for OTC Drugs Market products.

Request To Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10085333

According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Overview: Over-the-counter medications, also known as non-prescription drugs, are the medicines that can be procured without a prescription from the doctor. When the directions on the label are followed, these drugs are harmless and effective. These drugs are principally used for the treatment of the health conditions that can be self-medicated.

OTC drugs are measured by government regulatory associations to be harmless for self-medication. According to Food and drug administration (FDA), there are more than 300,000 OTC drug product are marketed. Some of the common applications of OTC drugs are aches, pains, itches and others.

Merger and acquisition has always been a trend in the pharmaceutical industry. Recently in 2018 January, J&J, GlaxoSmithKline and Reckitt Benckiser are on race to buy Pfizer's $20 billion consumer. However, the final two competitors for the bid are GSK and Reckitt Benckiser. Other major trend in the market are product launch and approval, collaboration and business expansion. In July 2017, Glenmark gets MHRA approval for OTC sale of anti-malarial drug in Europe.

Market Analysis: The "Global Over the counter drugs" market is estimated to witness a CAGR of 6.1% during the forecast period 2017-2023. The over the counter drugs market is analyzed based on two segments -product types, and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the global over the counter drugs market, followed by Europe, Asia Pacific, and Rest of the World.

Product Types Analysis: The OTC drugs demand for cold, cough and allergy will involve the classical seasonal drift, driving a stable progress during the forecast period. However, OTC drugs used for weight loss, smoking cessation and sleeping aid are on great demand in established regions. Many small manufacturers are establishing in these segment with their innovative products to have a strong foot hold. From the time of switching nicotine replacement therapies as OTC products, there was nearly 150% -200% increase in their procurement and usage in the initial year after the switch. Amplified access permitted many smokers to help quit smoking saving nearly $2 billion every year.

Key Players: Major players operating in the OTC market include Bayer AG, GlaxoSmithKline Plc., Johnson & Johnson, and Sanofi, are the major players of the market. Teva Pharmaceutical Industries Ltd., Pfizer, Synergy Pharmaceuticals Inc, Innovus Pharmaceuticals, Procter & Gamble Company, Merck & Co, Takeda Pharmaceutical Co, Ltd, Boehringer Ingelheim GmbH and Sun Pharmaceutical Industries Ltd.

Request To Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10085333

Competitive Analysis: Online sales of Over the counter drugs are transforming the market, intimidating major OTC drugs manufacturers and permitting small companies to obtain their share in the market. Aleve by Bayer is one of the best-selling drug in America with a revenue of $485 million in sales in 2016. But there was a drop-in sale by 10% in 2017. This was due to the availability of alternative drugs online from small manufacturers. This shows that the power is gradually shifting toward e-commerce, making it difficult for the major players.

Nevertheless, small companies are also facing patent litigation issues, making their entry more difficult into the market. For instance, Bayer AG filed a patent litigation against Perrigo Company plc's Finacea Foam in the US district court in February 2018. 

Benefits: The report provides complete details about the usage and adoption rate of over the counter drugs in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player's initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Table of Contents
1 Industry Outlook 8
1.1 Industry Overview 8
1.2 Industry Trends 8
2 Report Outline 10
2.1 Report Scope 10
2.2 Report Summary 10
2.3 Research Methodology 11
2.4 Report Assumptions 11
3 Market Snapshot 12
3.1 Market Definition - Infoholic Research 13
3.2 Total Addressable Market (TAM) 13
3.3 Segmented Addressable Market (SAM) 13
3.3.1 Difference between OTCs and prescription (Rx) medicines 14
3.3.2 Trends of over the counter drug market 14
3.4 Related Addressable Markets (RAM) 15
3.4.1 Oncology (Cancer) Drugs 15
3.4.2 Active pharmaceutical ingredients (APIs) 16
3.4.3 Diabetes Drugs Market 16
4 Market Outlook 18
4.1 Regulatory Scenario 18
4.1.1 US: 18
4.1.2 Europe: 18
4.1.3 Japan: 18
4.1.4 Turkey 19
4.2 Market Segmentation 20
4.3 Porter 5(Five) Forces 21
4.4 PEST Analysis 22
5 Market Characteristics 23
5.1 Market Dynamics 23
5.1.1 Drivers 23
5.1.1.1 Conducive government legislation 23
5.1.1.2 Switching of Rx drugs to OTC drugs 24
5.1.1.3 Cost-effective OTC drugs 24
5.1.2 Opportunities 25
5.1.2.1 A growing pain category 25
5.1.2.2 An increase in self-care 25
5.1.3 Restraints 25
5.1.3.1 Incorrect self-diagnosis 25
5.1.3.2 Side Effects and Misuse of Over the Counter Drugs 25
5.1.4 DRO - Impact Analysis 26
5.1.5 Key Stakeholders 27
6 Product Types: Market Size and Analysis 29
6.1 Overview 29
6.1.1 Cold, Cough and Allergy 30
6.1.2 Analgesics 31
6.1.3 Dermatology OTC Drugs 32

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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The post OTC Drugs Market Size, Growth Analysis by Top Players 2021: and Latest Trends with Global Industry Share, Business Development Plans and Strategies, CAGR and Revenue Forecast to 2030 appeared first on America News Hour.

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