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Global over-the-Counter (OTC) Drug Market to Grow at a CAGR of 6.19% During the Period 2016 - 2020; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Over-the-Counter Drug Market 2016 - 2020” research report to their website www.MarketResearchReports.com

 

Lewes, DE -- (SBWIRE) -- 09/06/2016 -- Report forecast the global over-the-counter (OTC) drug market to grow at a CAGR of 6.19% during the period 2016-2020.

OTC drugs are medicines that can be bought without a prescription from a doctor because the US FDA considers them safe for use without medical supervision. These drugs are used to treat conditions that do not necessarily require a doctor's advice, such as pain, itches, cough and cold, sleeping problems, smoking cessation, weight problems, gastrointestinal problems, and tooth decay. They are sold through hospitals, pharmaceutical stores, grocery stores, catalogs, and online retail stores.

The report covers the present scenario and the growth prospects of the global over-the-counter (OTC) drug market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of OTC drugs used to treat disorders, including gastrointestinal disorders, pain, and dermatological and respiratory disorders.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the key drivers for market growth will be rise in self-medication. The growing healthcare costs and an increase in the older population demand the need for better accessibility and affordability of healthcare services. Self-medication with non-prescription drugs play an important role in this and help in improving the accessibility and cost-benefits of healthcare services. Apart from this, the increase in self-care and self-medication is influenced by factors such as lifestyle, socioeconomic factors, and easy accessibility of drugs.

Further, the report states that presence of counterfeit drugs will be a challenge for the market. The sale of counterfeit OTC drugs in the market is increasing, and this problem is usually unreported to the regulatory authorities in majority of the cases. For instance, in April 2014, it was reported that over 2 million counterfeit drugs were seized from France, which included about 1 million packets of fake aspirin, which contained sugar in place of the API. It is estimated that counterfeit drugs account for 10% of the global market, as compared to 1% in the developed world, and the market for these drugs is on a rise. In the US, allergy OTC drugs are among the most counterfeited. Similarly, in 2015, over $100,000 worth fake medicines from the Philippines drugs market were seized.

Global Over-The-Counter (OTC) Drug Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global over-the-counter (OTC) drug market: GSK, Johnson & Johnson, Pfizer, Bayer HealthCare, and Sanofi.

Other Prominent Vendors in the market are: Abbott, Achelios Therapeutics, American Health, Amgen, Arena Pharmaceuticals, AstraZeneca, BioGaia, Bristol Myers Squibb, Bukwang Pharmaceutica, Chr. Hansen, Cipla, CoLucid, Daiichi Sankyo, Dr. Reddy's Laboratories, DSM, Eisai, Eli Lilly, EMS, Euradite, Friggs, Genomma Lab Internacional, Glanbia, Herbalife, Himalaya Drug Company, Hypermarcas, Immune Pharmaceuticals, Innovative Med Concepts, Mcneil consumer healthcare, Mead Johnson, Merck, Mitsubishi Tanabe Pharma, NeurAxon, Omega Pharma, OptiNoseĀø Pain Therapeutics, Procter & Gamble, Reckitt Benckiser, SAVA, Sigma Pharmaceuticals, Sun Pharma, Taisho Pharmaceuticals, Takeda Pharmaceuticals, Teva Pharmaceuticals, UCB, Unifarma Global Consumer healthcare, Valeant Pharmaceuticals, and Vida Laboratories.

Market driver
- Switching of medications from prescription to OTC
- For a full, detailed list, view our report

Market challenge
- Counterfeit drugs
- For a full, detailed list, view our report

Market trend
- Accelerated use of online resources
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 120 pages and 90 Exhibit "Global Over-the-Counter Drug Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, OTC drugs: An overview, Market segmentation by therapeutic class, Global respiratory OTC drugs market, Global dietary supplements market, Global gastrointestinal OTC drugs market, Global OTC pain medications market, Market segmentation by route of administration, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-over-counter-drug-market-2016-2020

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