“Global OTC Pharmaceutical market set to grow to $235bn by 2024” says new Visiongain report
31 July 2019
Visiongain has launched a new pharma report Global OTC Pharmaceutical Market Forecast 2019-2029: Cough, Cold and Allergy, Analgesics, Gastrointestinal, Dermatology, Eye Care, Smoking Cessation Aids, Others.
There has been greater liberalisation of OTC marketing approvals and OTC switches. This is being driven by the benefits it offers to many stakeholders: increased revenue for pharma companies, reduced costs for governments, enhanced status for pharmacists and greater choice and availability for consumers. The rising cost of healthcare across the globe and the effects of the economic recession mean that the trend of favouring OTC switching is very likely to continue.
The lead analyst of the report commented "Electronic pharmacy kiosks, self-assessment and diagnostic tools, and home monitoring systems could increasingly help to support safe and effective self-medication with OTC products. These could potentially alleviate concerns by regulatory authorities regarding whether consumers would be able to decide whether OTC treatment is appropriate.
The current global trend is towards liberalisation of OTC advertisement regulation, driven by government enthusiasm for OTC products in a bid to cut healthcare costs. Many companies are trying to communicate directly with consumers through online and other media, bypassing input from medical professionals."
Leading companies featured in the report include AstraZeneca PLC, Bayer AG, Daiichi Sankyo Company, Limited, GlaxoSmithKline PLC, Johnson & Johnson, Mylan N.V., Pfizer, Inc., Proctor & Gamble Company, Reckitt Benckiser Group PLC, Sanofi S.A. and other companies.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.
About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
Recent News
Visiongain Publishes Biological API Manufacturing Services Market Report 2021-2031
Demand in the early years of the forecast period will come from multinational biotech looking to sign deals with Indian companies and take advantage of the cheaper costs of production for the emerging market.
08 January 2021
Read
Visiongain Publishes Anaesthesia & Respiratory Devices Market Report 2020-2030
The growth can be attributed to the rising prevalence of respiratory diseases, growing awareness for respiratory diseases, and innovations in respiratory and anesthesia devices. However, unfavourable reimbursement policies and lack of patient adherence in respiratory diseases are some of the factors restraining the growth of the anesthesia and respiratory devices market.
07 January 2021
Read
Visiongain Publishes Inactivated Vaccines Market Report 2020-2030
Factors such as rise in the prevalence of the infectious and bacterial diseases and active participation of government in vaccine development are driving the growth of this market. While high cost of vaccine development is the key factor emerging as a growth barrier over years in this market.
07 January 2021
Read
Visiongain Publishes Human Microbiome Therapeutics Market Report 2021-2031
The potential of microbiome-based drugs as novel treatments to address the unmet needs for many diseases has contributed intensively to the rapid emergence of many investors in this area. Currently, no regulatory framework exists and no drugs have received FDA approval. However, there are several preclinical and clinical-stage companies working with various approaches to develop microbiome-based therapies.
