Global OTC drugs Market is predicted to increase worth USD 264.46 Million by 2023.
Over The Counter (OTC) Drugs Market By Product Type (Analgesics, Cough, Cold And Flu Products, Dermatological Products, Gastrointestinal Products, Vitamins
(EMAILWIRE.COM, August 17, 2018 ) Over the counter (OTC) drugs are also known as non-prescription medicines, which can be bought at the pharmacies and grocery stores without doctor’s prescriptions. These drugs are used for the treatment of various health conditions that can be self-medicated. OTC drugs include pain relievers, cough and cold remedies and other medicines. Some of the OTC drugs which are used widely are Aspirin, ibuprofen, and Acetaminophen.
In the year 2018, Global OTC drugs Market was valued at USD 175.47 Million. By the year 2023, it is expected to reach USD 264.46 Million at pace of 8.55% CAGR.
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Underlying Causes
The global OTC drugs market is rapidly growing due to increasing awareness towards self-medication among global population, improving performance in terms of drugs forms, dosages, and usage, increasing investments in R&D activities to discover new formulas to cure minor ailments, advancements in healthcare and pharmaceutical industries, and rising number of aging population are the important driving factors for OTC drugs market. The other factors include high penetration in emerging markets, favorable regulatory policies, and inclination of pharmaceutical companies to switch from Rx to OTC drugs.
To know more read: https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market-509/
Geographic Segmentation:
Based on geography the OTC drugs market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global OTC drugs market followed by Europe due to increasing healthcare industries, rising funds by government for the development of healthcare facilities, increasing self-medication, rising healthcare expenditure, favorable regulatory policies and presence of major players in this region is expected to fuel the industry growth. Asia-Pacific regions like India, China and Japan are fast growing market due to increasing healthcare expenditure, increasing geriatric population and rising prevalence of diseases are expected to contribute high growth rate for OTC drugs market during the forecast period.
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Leading companies for Global OTC drugs market are Pfizer Inc., Novartis International AG, Roche Holding AG, Merck & Co., Inc., Sanofi S.A, Johnson & Johnson, Gilead Sciences, GlaxoSmithKline plc., Bayer Healthcare AG, AstraZeneca plc, Alacer Corp., Alcon Inc., Alfresa Pharma Corporation, Alkalon A/S, Alliance Healthcare, Allergan, Plc., Reckitt Benckiser Plc., Bausch & Lomb, AbbVie Inc., and The Colgate-Palmolive Company.
In the year 2018, Global OTC drugs Market was valued at USD 175.47 Million. By the year 2023, it is expected to reach USD 264.46 Million at pace of 8.55% CAGR.
View sample and decide: https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market-509/request-sample
Underlying Causes
The global OTC drugs market is rapidly growing due to increasing awareness towards self-medication among global population, improving performance in terms of drugs forms, dosages, and usage, increasing investments in R&D activities to discover new formulas to cure minor ailments, advancements in healthcare and pharmaceutical industries, and rising number of aging population are the important driving factors for OTC drugs market. The other factors include high penetration in emerging markets, favorable regulatory policies, and inclination of pharmaceutical companies to switch from Rx to OTC drugs.
To know more read: https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market-509/
Geographic Segmentation:
Based on geography the OTC drugs market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global OTC drugs market followed by Europe due to increasing healthcare industries, rising funds by government for the development of healthcare facilities, increasing self-medication, rising healthcare expenditure, favorable regulatory policies and presence of major players in this region is expected to fuel the industry growth. Asia-Pacific regions like India, China and Japan are fast growing market due to increasing healthcare expenditure, increasing geriatric population and rising prevalence of diseases are expected to contribute high growth rate for OTC drugs market during the forecast period.
Get your customized report: https://www.marketdataforecast.com/market-reports/over-the-counter-drugs-market-509/customize-report
Leading companies for Global OTC drugs market are Pfizer Inc., Novartis International AG, Roche Holding AG, Merck & Co., Inc., Sanofi S.A, Johnson & Johnson, Gilead Sciences, GlaxoSmithKline plc., Bayer Healthcare AG, AstraZeneca plc, Alacer Corp., Alcon Inc., Alfresa Pharma Corporation, Alkalon A/S, Alliance Healthcare, Allergan, Plc., Reckitt Benckiser Plc., Bausch & Lomb, AbbVie Inc., and The Colgate-Palmolive Company.
Contact Information:
Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results