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Global Over the Counter (OTC) Analgesics Market 2021 Production, Revenue, Price and Gross Margin Analysis with Forecasts

Over the Counter (OTC) Analgesics

Over the Counter (OTC) Analgesics Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Over the Counter (OTC) Analgesics market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Retail Pharmacies Segment by Distribution Channel is Expected to Dominate the Market

OTC medicines are conveniently sold in several retail outlets, including those without pharmacies, and are available when consumers need them. In the United States, there are more than 750,000 retail establishments nationwide, both rural and urban consumers have access 24/7 to treatments for common, everyday conditions. Furthermore, most of the patients are preferring self medications without consulting a doctor or a pharmacist. However, the hospital pharmacies segment is expected to maintain a relatively low growth rate in terms of revenue generated through distribution of over the counter (OTC) drugs, as mostly the sales of OTCs take place in case of non-prescribed drugs and it is relatively easy for most consumers to acquire these drugs either from retail pharmacies or online pharmacies. Thus, owing to the affordability and high accessibility of the OTC analgesics in the retail stores the market is expected to witness a high CAGR over the forecast period.

North America is Expected to Dominate the Market

According to the Consumer Healthcare Products Association, 2019, it was estimated that about 93% of the Americans prefer to treat their minor ailments with OTC medicines before seeking professional care. Chronic pain has been linked to several physical and mental conditions, and contributes to high healthcare costs and lost productivity. In 2016, approximately 20.4% of the adults in the had chronic pain, and 8.0% had high-impact chronic pain. Both kinds of pain were more widespread among adults living in poverty, adults with less than high school education, and adults with public health insurance. For the treatment of musculoskeletal injuries and disorders, many patients in the generally use nonprescription topical analgesics. Counterirritants are approved by the FDA for the topical treatment of minor pains and muscle and joint aches and are often used for the treatment of acute musculoskeletal injuries, such as simple backache, arthritis pain, strains, bruises, and sprains. According to a report, 2018, “The value of self-medication: summary of existing evidence”, it was estimated that the availability of OTC medicine resulted in annual savings of USD 102 billion relative to alternatives. Hence, with the increase in the prevalence of chronic pain, the demand for OTC analgesics is expected to increase, which is likely to drive the market, over the forecast period.

Market Overview:

  • The over the counter (OTC) analgesics market is expected to register a CAGR of nearly 7.2% during the forecast period, 2019-2024. The major factors boosting the growth of the market studied include the increasing demand in topical analgesics, growth in the geriatric population resulting into rising in the prevalence of various diseases and cost efficiency of otc analgesics drugs.
  • – According to the estimates by the American Academy of Pain Medicine, over 100 million American people were affected by chronic pain.
  • – With the growing aging population, the demand for pain relief solutions is increasing, as aged people are more prone to chronic pain.
  • – According to the United Nations report in 2017, there were an estimated 962 million people aged 60 or over in the world, comprising 13% of the global population. The population aged 60 or above is growing at a rate of about 3% per year. It was estimated that had the highest percentage of the population aged 60 or over, as per 2017.
  • – Rapid aging is expected in other parts of the world, owing to this, all regions of the world, except Africa, is expected to have nearly a quarter or more of their populations aged at 60 and above, by 2050.
  • – According to the estimates of the United Nations’ report in 2017, the total number of aged population in the world was projected to reach 1.4 billion in 2030 and 2.1 billion in 2050, approximately, and is likely to rise to 3.1 billion in 2100. The number of aged people who are 80 or over is projected to triple by 2050, from 137 million in 2017 to 425 million in 2050, across the world. By 2100, it is expected to increase to 909 million, which is nearly seven times its value in 2017, as per the United Nations report, which is likely to increase the usage of OTC analgesics. Thus, the growth in the geriatric population is driving the growth of the global OTC analgesics mar

    Key Manufacturers Like 

  • Bayer AG
  • Boehringer Ingelheim International GmbH
  • Johnson & Johnson
  • GlaxoSmithKline PLC
  • Pfizer Inc.
  • Reckitt Benckiser Group PLC
  • Sanofi
  • Sun Pharmaceutical Industries Ltd
  • Takeda Pharmaceutical Company Limited.

    Scope of the Report:

  • As per the scope of this report, over the counter (OTC) analgesics are referred to as non-prescription analgesic drug. These medicines can be bought by individuals without a doctor’s prescription and are safe for consumption without the doctor’s consent. The market is segmented by type of drug, distribution channel, and geography.

    Over the Counter (OTC) Analgesics market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Over the Counter (OTC) Analgesics market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Over the Counter (OTC) Analgesics market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Over the Counter (OTC) Analgesics market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Over the Counter (OTC) Analgesics market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Over the Counter (OTC) Analgesics ?
    • Who are Opportunities, Risk and Driving Force of Over the Counter (OTC) Analgesics market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Over the Counter (OTC) Analgesics space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Over the Counter (OTC) Analgesics market opportunities, market risk and market overview of the Market?

    Lastly, the Global Over the Counter (OTC) Analgesics Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Over the Counter (OTC) Analgesics Market Report:

    • To provide a detailed analysis of the market structure along with the Over the Counter (OTC) Analgesics market forecast of various segments and sub-segments of the Over the Counter (OTC) Analgesics market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Over the Counter (OTC) Analgesics market trends that influence the global Over the Counter (OTC) Analgesics market

    Detailed TOC of Over the Counter (OTC) Analgesics Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Demand in Topical Analgesics
    4.2.2 Growth in the Geriatric Population Resulting in a Rise in the Prevalence of Various Diseases
    4.2.3 Cost Efficiency of OTC Analgesics Drugs
    4.3 Market Restraints
    4.3.1 Drug Abuse
    4.3.2 Harmful Side Effects from Continuous Use of OTC Analgesic
    4.4 Porter’s Five Force Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type of Drug
    5.1.1 Acetaminophen
    5.1.2 Nonsteroidal Anti-inflammatory Drug (NSAIDs)
    5.1.3 Salicylates
    5.1.4 Topical Analgesics
    5.2 By Distribution Channel
    5.2.1 Hospital Pharmacies
    5.2.2 Retail Pharmacies
    5.2.3 Online Pharmacies
    5.2.4 Others Distribution Channels
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2
    5.3.2.1 Germany
    5.3.2.2 United Kingdom
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina
    5.3.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Bayer AG
    6.1.2 Boehringer Ingelheim International GmbH
    6.1.3 Johnson & Johnson
    6.1.4 GlaxoSmithKline PLC
    6.1.5 Pfizer Inc.
    6.1.6 Reckitt Benckiser Group PLC
    6.1.7 Sanofi
    6.1.8 Sun Pharmaceutical Industries Ltd
    6.1.9 Takeda Pharmaceutical Company Limited

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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