The Global OTC drugs market is projected to reach USD 243 Billion by 2022, growing at a strong CAGR of 8.55%

Hyderabad, India -- (SBWire) -- 01/26/2018 --The report "Over the Counter (OTC) Drugs Market, by Product Type (Analgesics, Cough, Cold and Flu Products, Dermatological Products, Gastrointestinal Products, Vitamins, Minerals, Weight Loss Products, Sleep Aids, Ophthalmic Products, Smoking Cession Aids and Other Products)-Forecast to 2022", The Over the Counter Drugs market is expected to reach USD 243 Billion by 2022 from an estimated USD 148 Billion in 2016, at a CAGR of 8.55%.

Browse through 176 Pages and in-depth TOC on "Over the Counter(OTC) Drugs "
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By Product Type, half of the market share belongs to categories like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories in the forecast period of 2017-2022.

On the basis of product type, the genomics market has been segmented into a wide variety of products such as Analgesics, Cough, Cold and Flu Products, Dermatological Products, Gastrointestinal Products, Vitamins, Minerals, Weight Loss Products, Sleep Aids, Ophthalmic Products, Smoking Cession Aids and Other Products

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OTC drugs are developed under OTC Monograph process or through New Drug Application (NDA) process. These drugs come with a monograph on which the ingredients of the drug, dosage and user instructions are written. Easy availability, lesser prices, convenience, user-empowering qualities are the benefits of OTC drugs. With the growing number of chemists and pharma dispensaries, the drugs are readily accessible.

Public started showing pro-active approach towards the illnesses. Alongside that, they are additionally turning to bring down evaluated choices because of bringing costs up in medicinal services. The social move out in the open towards confidence leads in increasing real acquisitions. These are a portion of the drivers that shoot up the market development. Be that as it may, the market development is prevented because of the issue of medication substance manhandle and absence of mindfulness in immature regions.

North America dominated the market in 2017

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North America leads the market closely followed by Europe and Asia Pacific region. Though the market is predicted to decline in the near future due to increase in the number of generic medication. Asia-Pacific regions like China, Japan an India are fastest growing markets, as the growing rate is going at an exponential rate.

GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, GSK Boehringer Ingelheim, Sanofi, Takeda and PGT Healthcare are the top companies that contribute to OTC drugs market. The maximum market share is possessed by GlaxoSmithKline, Johnson and Johnson, Novartis and Sanofi. The extension of OTC service for the drugs dealing with chronic diseases like diabetes and hypertension is a new trend to be noticed.

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