Thu. Jun 17th, 2021

OVER-THE-COUNTER (OTC) DRUGS AND DIETARY SUPPLEMENTS MARKET RESEARCH ANALYSIS BY EXPERTS 2018 TO 2021

Trends Market Research

The global market for over the counter (OTC) drugs and dietary supplements reached $164.7 billion in 2016 and should reach $220.8 billion in 2021, with a compound annual growth rate (CAGR) of 6.0%.

Report Scope:

The report considers only western or modern drugs for this report and excludes any other type of drugs such as alternative therapies.

This study aims at understanding the dynamics and forecasts for OTC drugs and dietary supplements markets worldwide and provides key market propositions within the next five-year period.

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The report covers developed and emerging markets in order to help readers understand –
– The current state of the OTC drugs and dietary supplements market and the key markets for its future development.
– New regulations that will influence the development of the OTC drugs and dietary supplements market.

– Market drivers of and threats to the OTC drugs and dietary supplements industry.
– Major regional trends in the global OTC drugs and dietary supplements market.

Report Includes:

– An overview of the global markets for OTC drugs and dietary supplements
– Analyses of global market trends, with data from 2015, 2016, and projections of CAGRs through 2021

– Information about how pharmacies affect the OTC drug market
– Analysis of new developments that will provide an opportunity to manufacturers and marketers of OTC medicines and dietary supplements to expand organically
– Updates on the latest merger and acquistion activity
– Coverage of how point of sales and channels of distribution drive sales of OTC drugs and dietary supplements
– A look at key strategic initiatives for market penetration and expansion
– Company profiles of major players in the field

REASONS FOR DOING THE STUDY

Over the counter (OTC) drugs and dietary supplements encourage people to engage in responsible self-care and to access safe and effective OTC drugs and dietary
supplements at the nearest retail counters.

The market for OTC drugs and dietary supplements is still instable due to lack of clear policies on various issues such as contents on the package, sales authorization in
stores other than pharmacies, policies on advertising and promoting OTC drugs at point of sales, policies for pharmacy only or behind the counter drugs, and many more.

Issues regarding sales promotion and sales in outlets other than pharmacies raise higher concerns.

Regulatory issues are big hurdles in the growth of the OTC drugs market. The latest issue is that of refunds and reimbursing OTC drugs bills. People from various countries
produce claims for OTC bills where irregularities were identified that were trying to move prescription drugs to OTC and did not help reduce the public health burden.

Many nations are now making it compulsory to produce a prescription for compensating OTC drugs under medical billing. This has again brought sales of OTC drugs down since 2010.

There are no common policies and regulations worldwide and some countries follow US FDA guidelines and other follow the UK MHRA. Another key issue the industry faces is lack of a seamless reclassification of drugs from prescription to OTC. Drugs classified as OTC in one country are restricted in other country and need a prescription. This is
another big issue in supply chain management and distribution of drugs especially for online pharmacies and multinational pharmacy chains.

BCC Research identified a need for the study of present markets for OTC drugs and dietary supplements on the basis of regulatory and supply chain issues and decided to
find out what are the key initiatives and strategies worldwide to control these issues for market growth.

SCOPE OF REPORT

The report considers only western or modern drugs for this report and excludes any other type of drugs such as alternative therapies.

This study aims at understanding the dynamics and forecasts for OTC drugs and dietary supplements markets worldwide and provides key market propositions within the next five-year period.

The report covers developed and emerging markets in order to help readers understand:
– The current state of the OTC drugs and dietary supplements market and the key markets for its future development.
– New regulations that will influence the development of the OTC drugs and dietary supplements market.
– Market drivers of and threats to the OTC drugs and dietary supplements industry.
– Major regional trends in the global OTC drugs and dietary supplements market.
– The competitive thrust of the market.v

More Info of Impact [email protected] https://www.trendsmarketresearch.com/report/covid-19-analysis/11780

By oliver