Over the counter (OTC) Drugs are the safe and efficient drugs, which can be bought without doctor’s recommendation, which are used for normal ailments. Acetaminophen, aspirin and ibuprofen are the most familiar OTC drugs.
This has become a super success in Asia, due to ease of access, low cost, convenience and customer-empowering qualities. The rising number of chemists and pharma dispensaries is compelling the drugs readily accessible, thus, fashioning it feasible for the consumers.
Asia Pacific OTC Drugs Market in Asia-Pacific region has been estimated at USD 51.57 Million in 2018 and is anticipated to reach USD 83.09 Million by 2023 at a CAGR of 10.01% during the forecast period from 2018 to 2023.
Drivers and restraints:
The major factors that are boosting the growth of the Asia-Pacific Over the counter (OTC) Drugs Market are positive attitude shown by public in Asia-Pacific region; and the OTC drugs are made less-expensive.
The major restraints that are hampering the growth of The Asia-Pacific Over the counter (OTC) Drugs Market are disturbing issues of drug substance abuse and lack of alertness in under-developed regions.
The Asia-Pacific Over the counter (OTC) Drugs Market is partitioned according to product and geographically. With respect to product the market basically classified into analgesics, cough, cold and flu products, dermatological products, gastrointestinal products, vitamins, minerals, weight loss products, sleep aids, ophthalmic products, smoking cession aids and other products. More than half of the market share associated to sections like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories.
Geographically the Asia-Pacific OTC Drugs Market is partitioned into regions like Australia, Japan, China and India are the principal contributors to the Asia-Pacific OTC drugs market. In East Asia, Japan takes the lead and is tailed by China, Hong Kong, South Korea, Singapore and Malaysia. Japanese market is forecasted to saturate soon due to economic inactivity. Rising espousal of western lifestyles and increasing prosperities is compelling to expand in market size and OTC demand.
The major companies that are leading in the Over the counter (OTC) Drugs Market are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi and Takeda.
Scope of the Report:
The report offers an extensive examination of the business by giving the estimations of market potential and gauges with most extreme granularity. Along this, the variables persuasive in affecting the market flow and patterns are examined in detail at the item level. Further, the execution of the market at the territorial and nation level is evaluated and the prospects with high development potential are distinguished and discussed.
The key players in the business are profiled giving bits of knowledge on their money related execution, advertise position and development techniques. Similar investigation on prime strategical exercises of the market players depicting the key advancements like mergers and acquisitions, coordinated efforts and an assessment of the focused condition inside the business are given. The report additionally offers an expansive standpoint of the market alongside proposals from industry specialists on the open doors for speculation action.
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