The global over the counter (OTC) drugs market is anticipated to grow at a CAGR of around 7% during the forecast period. OTC drugs are intended to relieve from minor aches, pains, and itches and it can be bought easily without any prescription. Hundreds of OTC drugs are available at pharmacy stores including cosmetics and dietary supplements that can be sold directly to the consumer. According to Consumer Healthcare Product Association (CHPA) in 2018, around 81% adults in the US, uses OTC drugs as a first line of treatment.
Request a Free Sample of ourGlobal Over the Counter (OTC) Drugs Market: https://www.omrglobal.com/request-sample/over-the-counter-otc-drugs-market
The major factors contributing to the growth of the OTC drugs market include the benefits offered by these drugs such as the lower chances of misuse and abuse and easy to use for self-diagnosed health conditions. In addition, health professional and prescription is not required. Additionally, government and regulations, funding and various initiatives will also drive the global OTC drugs market. For instance, in December 2019, Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2019 was passed in the US. The new law will work to reform and affect the safety, innovation, and affordability of over-the-counter drugs.
A full Report of Global Over the Counter (OTC) Drugs Market is Available at: https://www.omrglobal.com/industry-reports/over-the-counter-otc-drugs-market
However, certain risks associated with the OTC drug usage will restrict the growth of OTC drugs market. In addition to this, the OTC drugs still pose a risk for developing an addiction. Abuse of OTC drugs can lead to various health risks such as heart problems, heart problems, memory loss, and causality in some cases. The most commonly abused OTC medications include cough medicines. This abuse problem associated with OTC drug use will present as a challenge to the growth of the OTC drugs market during the forecast period.
Global Over the Counter (OTC) Drugs Market Segmentation
By Product Type
· Analgesics and Pain Relievers
· Cough, Cold and Flu Products
· Vitamin & Mineral Supplements
· Ophthalmic Products
By Distribution Channel
· Retail & Supermarket
· Online Platform
· North America
· Rest of Europe
· Rest of Asia-Pacific
· Rest of the World
· Achelios therapeutics., Inc.
· Alkem Laboratories Ltd.
· Amgen Inc.
· Amway Corp.
· AstraZeneca PLC
· Bayer AG
· Boehringer Ingelheim International GmbH
· Bristol-Myers Squibb Co.
· Cipla Ltd.
· Dr. Reddy’s Laboratories Ltd.
· GlaxoSmithKline Plc
· Glenmark Pharmaceuticals Ltd
· Johnson & Johnson Services, Inc.
· Merck KGaA
· Novartis International AG
· Perrigo Co. plc
· Pfizer, Inc
· Reckitt Benckiser Group plc
· Sanofi SA
· Sun Pharmaceutical Industries Ltd.
· Teva Pharmaceutical Industries Ltd.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/over-the-counter-otc-drugs-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit Orion Market Research
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Contact no: +91 7803040404