Pune, India -- (SBWIRE) -- 01/17/2020 -- A recent report published by Infinium Global Research on Over-the-Counter Drug Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024. According to the report, the global over-the-counter drug market is projected to grow at a CAGR of 7.6% over the forecast period of 2018-2024.

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Product Innovations in the Over-the-Counter Drug Market are Anticipated to Boost the Growth of the Industry

Product innovation in the over-the-counter drug market like making different products for a similar illness depending on their severity. Moreover, this will help as one product for severe conditions and the other for mild. However, product innovations in the over-the-counter drug market are anticipated to boost the growth of the market globally over the forecast period. Increasing the inclination of people towards non-prescription drugs in developing countries coupled with easy availability and affordability is the key factor responsible for the growth of the over-the-counter drugs market across the globe. Moreover, increasing awareness related to general health concerns cost-saving advantage of OTC drugs that do not require direct consultation of doctor and advancements in pharmaceuticals industry will further drive the global over-the-counter drug market over the forecast period.

Over-the-Counter Drug Market: Segmentation

The report on the global over-the-counter drug market covers segments such as the route of administration and therapeutic class. On the basis of route of administration the global over-the-counter drug market is categorized into parenteral, topical, oral and others. On the basis of therapeutic class, the global over-the-counter drug market is categorized into pain medications, gastrointestinal drugs, dietary supplements, respiratory drugs, and others.

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Over-the-Counter Drug Market: Regional Insights

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.

Over-the-Counter Drug Market: Competitive Landscapes

The report provides profiles of the companies in the global over-the-counter drug market such as Sanofi, Johnson & Johnson, Sigma Pharmaceuticals, Bayer HealthCare, GSK, Eli Lilly, Pfizer, Teva Pharmaceuticals, Omega Pharma and Dr. Reddy's Laboratories.

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