Global Over The Counter Drugs (OTC) Market worth USD 485.36 Billion by 2024

Global Over The Counter Drugs (OTC) Market worth USD 485.36 Billion by 2024

Pune, India, April 04, 2019 -- /360iResearch/ -- The report "Global Over The Counter Drugs Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q1 2019 Update)", published by 360iResearch, states that the global market was valued at USD 290.85 billion in 2017 and is projected to reach USD 485.36 billion by 2024, growing at a CAGR of 7.59% from 2017 to 2024.

The major forces driving the growth of the over the counter drugs market include the cost effective way to treat minor health issues and reduced burden of the physician. Moreover, favorable regulatory framework is also one of the factors that is driving the market growth. However certain factors such as the presence of substitute drug due to saturating market may hinder the market growth. In the middle of difficulty lies opportunity such as the increased accessibility through retail outlets and supermarkets, and technological advancement and product innovation. The possible challenges for the market growth is pressure to keep the price low. But key players in the market are overcoming the challenges with continual improvement and innovation.

Based on product, the global over the counter drugs market is studied across Analgesics, Cough, Cold, and Flu Products, Dermatology Products, Gastrointestinal Products, Ophthalmic Products, Sleeping Aids, Vitamins, Mineral, and Supplements (VMS), and Weight-loss/Dietary Products. Based on distribution channel, the global over the counter drugs market is studied across Hospital Parmicies, Online, and Retail Pharmacies. Based on geography, the global over the counter drugs market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.

The report features a competitive scenario of the over the counter drugs market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Alkem Laboratories Limited, Bayer AG, Boehringer Ingelheim GmbH, Cipla, Inc., Glaxosmithkline PLC, Glenmark Pharmaceuticals Limited, Johnson and Johnson, Merck KGaA, Novartis AG, Pfizer, Sanofi, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd..

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