Seattle, WA -- (SBWIRE) -- 10/31/2019 -- Over-the-Counter Drugs Market is poised to witness lucrative growth over the forecast timeframe. Major industry trends such as Rx to OTC switch by pharmaceutical manufacturers, growing tendency of people towards self-medication in developing regions and cost saving advantage to citizens in regions of Asia Pacific and Latin America are strongly driving the regional as well as global market.

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Key Market Trends:

Analgesics is the Segment by Product that is Expected to Grow the Largest During the Forecast Period

Analgesics accounted for a significant value share of the over-the-counter (OTC) drugs market. OTC analgesics are found to have several applications in the treatment of fever, headache, musculoskeletal injuries and disorders, arthritis, and menstrual cramps that have spurred the overall demand in the market. Other factors, such as obesity, stress, and lifestyle disorders lead to chronic pain and different kinds of aches. The population is widespread in the developed markets, as well as in high economic growthcountries, such as India, China. Therefore, in these countries, the population contributes to the increasing demand and growth of analgesics in the market.

Weight-loss and Dietary Products Segment Expected to Grow with a High CAGR

The weight-loss and dietary products segment is believed to show the highest CAGR during the forecast period. This is majorly attributed to the rising awareness of the general population about health and rise in the consumption of junk food, which is leading to the rise in lifestyle-related diseases. The VMS (vitamins, minerals, and supplements) segment is believed to have the largest market share.

OTC Market Segmentation:

By Category: Vitamin and Dietary Supplements, Cough & Cold Products, Analgesics, Gastrointestinal Products, Sleep Aids, Otic Products, Wart Removers, Mouth Care Products, Ophthalmic Products, Botanicals, Antacids, Smoking Cessation Products, Feminine Care, and Others

Dosage Form: Tablets, Hard Capsules, Powders, Ointments, Soft Capsules, Liquids, and Others

Product: Branded, and Generic Drugs

Distribution Channel: Pharmacies, Grocery Stores, Vitamin and Health Food Stores, Online Pharmacies, and Others

Regional Analysis:

U.S. OTC drugs market size witness lucrative growth over the forecast period by 2025. Increasing preference for the drugs for minor injuries along with increasing self-medication and self-care will spur demand. Moreover, rising healthcare expenditure, favorable regulatory scenario and presence of major players in the country will fuel industry growth.

UK market should witness substantial growth due to increasing awareness pertaining to self-treatment medication. Increased availability of OTC medicines in country will help government to minimize the healthcare cost and provide better access to public and propel business growth over the forecast timeframe.

India OTC drugs market size held significant revenue share of Asia Pacific OTC drugs market in 2018. Growing healthcare expenditure, unhealthy dietary habits, expanding population and growing healthcare awareness will drive industry growth. Geriatric population in the country are prone to acquire diseases such as asthma, arthritis, angina, depression, and diabetes which will spur demand.

Key Players:

Johnson & Johnson Pfizer, Cipla, Dr. Reddy's Laboratories, Takeda, Teva Pharmaceuticals, Sanofi, Bayer and GlaxoSmithKline.

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