360 MARKET UPDATES Report provides a 360-degree overview of the global Over the Counter (OTC) Analgesics Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Over the Counter (OTC) Analgesics Market – Segmented by Type of Drug, Distribution Channel, and Geography – Growth, Trends, and Forecast (2018 – 2023)”
Global “Over the Counter (OTC) Analgesics Market” is expected to register a CAGR of approximately 7.2% during the forecast period of (2018 – 2023). Also, Over the Counter (OTC) Analgesics Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Over the Counter (OTC) Analgesics Analysis.
Over the Counter (OTC) Analgesics market Report provides a 360-degree overview of the global Over the Counter (OTC) Analgesics market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Over the Counter (OTC) Analgesics Market Report Covers Leading Manufacturers: BAYER, BOEHRINGER INGELHEIM, JOHNSON & JOHNSON, NOVARTIS AG, PFIZER INC., RECKITT BENCKISER GROUP PLC., SANOFI, SUN PHARMA, and TAKEDA PHARMA
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The OTC analgesics market is expected to witness a CAGR of 7.2% during the forecast period. North America dominates the global market due to the favorable regulatory framework in North America.
Increasing Demand in Topical Analgesics
Increasing demand of topical analgesics, which are available as pain-relieving creams, lotions, rubs, gels, and sprays, has increased the sales of analgesics by 18 percent. According to Kline Nonprescription Drugs US report, increasing geriatric population worldwide, will generate the demand for pain relief products. According to the US Census Bureau, between 2012 and 2050, the United States will experience considerable growth in its older population. Thus, the growth in geriatric population is driving the growth of the global OTC analgesics market.
Additionally, the cost efficiency of OTC analgesics drugs is also responsible for fuelling the growth of the market.
Harmful Side-Effects from Continuous Use of OTC Analgesics
The common side-effects from the continued usage of OTC analgesics include, constipation, drowsiness, dizziness, stomach-ache, heart attack, or stroke. These drugs can cause serious changes in the brain and body. Long-term usage of painkillers increases the addiction and dependency on the drugs. In the United States, painkillers are the second most abused substances, after Marijuana. As a result of such incidents of drug overdose, there is an uncertainty regarding the increasing stringency on OTC analgesics, thus, restraining the market.
Additionally, drug abuse is restraining the growth of OTC analgesics market.
North America to Dominate the Market
Analgesics are one of the star performers in the OTC drugs portfolio worldwide. Being the first choice for pain relief, the demand for various analgesics is high around the globe, especially in industrialized regions. Some of the most common factors leading to an increasing demand are: rise in average age of citizens in countries, such as the United States. Another major reason is the increasing obesity in developing countries, such as Mexico. Both these reasons give rise to common problems of pain, stress, and various kinds of aches. This section of the population contributes to the increasing demand, and therefore, the growth of the analgesics market. From the industry side, factors such as, high level of innovation and falling private label competition in developed countries, are also fueling the marketâs growth.
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Reasons to Purchase Over the Counter (OTC) Analgesics Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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