Global Over-the-Counter Drugs Market Expected to Be worth $ 223.5 Billion by 2026

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NEW YORK, October 19, 2021 / PRNewswire / – Zion Market Research has released a new report titled “Over-the-Counter Drugs Market by Product (Cough & Flu Products, Pain Relievers, Colds, Weight Loss Products, Mineral & Vitamin Supplements, Gastrointestinal Products, Ophthalmic Products, Skin Products, and Others) : Global Industry Outlook, Comprehensive Analysis and Forecast, 2020 – 2026 “ According to this research report, global demand for over the counter drugs market was valued at approximately $ 142.4 billion in 2019, and should generate sales of around $ 223.5 billion by the end of 2026, with a CAGR of around 6.8% between 2020 and 2026.

Drugs that can be purchased without a doctor’s prescription are called over-the-counter drugs. Some of the over-the-counter medications help relieve itching, aches and pains, and aches and pains, while some of these medications help prevent or cure disease. Prescription drugs, on the other hand, can only be sold after viewing a verified prescription. In the majority of countries, over-the-counter drugs are appointed by a government agency to ensure that the drugs contain effective and safe ingredients when adopted without the care of a doctor. Over-the-counter drugs are frequently regulated with respect to their active pharmaceutical ingredient (API) instead of finished products. By monitoring APIs in place of precise drug formulations, jurisdictions allow producers the freedom to develop components, or mixtures of components, into proprietary blends.

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Factors such as the growing trend towards self-medication, increasing expirations of patents, cost savings for people in developing regions, over-the-counter prescribing by pharmaceutical companies, the convenience of buying over-the-counter drugs free, strong demand from emerging countries, advantageous regulatory structure, and growing awareness due to the availability of information on the web will act as major driving factors for the growth of the global over-the-counter drugs market. Product innovation, the growing attention of large pharmaceutical companies on over-the-counter drugs will provide an opportunity for players in the over-the-counter drug market. Nonetheless, concerns about incorrect diagnoses and addiction related issues will restrain the growth of the global over the counter drugs market.

The global over-the-counter drugs market has been divided into products and regions. On the basis of product, the over-the-counter drugs market has been segmented into cough and flu products, pain relievers, colds, weight loss products, mineral and vitamin supplements, gastrointestinal products, ophthalmic products, products for skin and others. Mineral and vitamin supplements accounted for the highest market share in 2019 due to increasing demand and ease of availability. Cough and flu products also made up a large share due to the high prevalence of these conditions.

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Regionally, the over-the-counter drug market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. North America will be the first region during the estimation period. Ease of availability, selling top quality products, and existence of prominent players will enhance the market growth in this region. Europe will be the second largest market. The main reasons are the growing awareness of the use of over-the-counter medications and the high demand for cold and flu medications. Asia Pacific will proliferate at a rapid rate during the forecast period due to increased investment in healthcare and high demand for dietary supplements. Latin America Market will grow at a remarkable rate during the estimation period. Countries in the Middle East and Africa are expected to experience significant growth on schedule.

The report also includes detailed profiles of key players such as GlaxoSmithKline (GSK), Sun Pharmaceutical Industries Ltd., Bayer HealthCare, Johnson & Johnson, Pfizer, Sanofi, Alkem Laboratories Limited, Glenmark Pharmaceuticals Ltd., Cipla, Inc., Takeda , Teva Pharmaceutical Industries Ltd., Reckitt Benckiser Group Plc, Innovus Pharmaceutical Inc., Piramal, and Dr. Reddy’s Laboratories, among others.

This report segments the global over-the-counter drugs market as follows:

Global Over-the-Counter Medicines Market: By Product

  • Cough and flu products
  • Pain relievers
  • Cold
  • Weight loss products
  • Mineral and Vitamin Supplements
  • Gastrointestinal products
  • Ophthalmic products
  • Skin products
  • Others

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By region

North America

Europe

  • France
  • Great Britain
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • CCG
  • South Africa
  • Rest of Middle East & Africa

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