According to the India over the counter (OTC) drugs market report by IMARC Group, the market reached a value of US$ 7.6 Billion in 2022, and it is projected to reach a value of US$ 19.4 Billion by 2028, exhibiting a growth rate (CAGR) of 16.7% during 2023-2028.
Over-the-counter (OTC) drugs, also known as non-prescription medicine, can be consumed by individuals without requiring any prescription by a professional. They commonly treat various health problems, such as allergies, menstrual cramps, constipation, headaches, toothache, cold and flu, heartburn, dental caries, and nausea. They are safe for consumption, convenient, cheaper, and easily available across supermarkets, hypermarkets, hospital pharmacies, retail pharmacies, and online retail channels. At present, OTC drugs are extensively adopted by individuals across India due to the growing inclination towards self-medication for minor health problems.
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India Over the Counter (OTC) Drugs Market Trends and Drivers:
The market is primarily driven by the rising geriatric population that is more susceptible to various diseases. In addition, the growing awareness among individuals regarding health due to the increasing prevalence of lifestyle-related diseases caused by sedentary lifestyles is contributing to market growth.
Besides this, the growing inclination toward self-medication across India due to the high consulting fees charged by medical professionals represents another major growth-inducing factor. Moreover, rising digitization and changing consumer preferences toward e-commerce and digital pharmacies are further augmenting the market growth.
Furthermore, the market is also propelled by the implementation of various government initiatives to make OTC drugs economical and accessible and encourage the usage of OTC drugs.
Other factors, including the inflating disposable incomes of consumers, the rising stress levels among working professionals, and the increasing investments in research and development (R&D) activities, are escalating the production of newer and more efficient over-the-counter (OTC) drugs in India.
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India Over the Counter (OTC) Drugs Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, product type, route of administration, dosage form and distribution channel.
Breakup by Product Type:
- Cough, Cold and Flu Products
- Dermatology Products
- Gastrointestinal Products
- Vitamins, Minerals and Supplements (VMS)
- Weight-loss/Dietary Products
- Ophthalmic Products
- Sleeping Aids
Breakup by Route of Administration:
Breakup by Dosage Form:
- Tablets and Capsules
Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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