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Types of OTC drugs and dietary supplements 2019 and 2027
It is estimated that by 2027, the OTC drug and dietary supplement market will reach US$4, US$92.102249 billion; the compound annual growth rate from 2020 to 2027 is expected to be 6.8%
New York, USA, November 15, 2021/EINPresswire.com/-Based on our new report on "Over-the-Counter Drugs and Dietary Supplements Market by 2027-Global Analysis and Forecast-By Product, Type, Form, Distribution Channel" Market Research Report This report focuses on the popular trends in the market, as well as the driving factors and obstacles related to market growth.
The scope of the over-the-counter drug and dietary supplement market includes products, types, forms, distribution channels, and regions. The market for OTC drugs and dietary supplements is analyzed based on North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. The report provides insights and in-depth analysis of the OTC drug and dietary supplement market, highlighting various parameters such as market trends, technological advancements, market dynamics, and analysis of the competitive landscape of the world's leading market participants.
Report coverage (details) Value of market size ($93.254 billion in 2019) Value of market size ($4, $92.102249 billion in 2027) Growth rate (CAGR of 6.8% for 2020-2027) Forecast period (2027- 2027)) Base year (2020) Number of pages (200) Number of tables (110) Market segments covered (by product, type, form, distribution channel; and geography) Regional scope (North America; Europe; Asia Pacific; Latin America) ; MEA) Country coverage (United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina) Report coverage (revenue forecasts, company rankings, competitive landscape, growth factors And trends)
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Over-the-counter (OTC) drugs are available for general use by the general public. These drugs do not require a doctor's prescription. Over-the-counter medicines can be used to treat various diseases, such as coughs and colds, diarrhea, heartburn, constipation, acne, pain, etc. On the other hand, for fitness purposes, dietary supplements can be purchased over the counter. However, when a person is seriously ill or needs treatment, a doctor’s prescription is required to purchase dietary supplements containing medicinal ingredients. These over-the-counter drugs and nutritional supplements come in two forms: brand-name or generic drugs.
Awareness of general health issues continues to increase
Common health problems may be seasonal, or they may occur due to small changes in daily habits; therefore, people are more willing to take over-the-counter medications to treat them than to see a doctor. In many cases, this can save time and money and provide immediate relief. Some governments have launched various health awareness programs. As a result, daily technologies in the healthcare and health fields have been quickly and smoothly adopted, which has contributed to the overall growth of the industry. For example, in India, the government is taking active measures to regularize the use of over-the-counter drugs. The Prescription Monitoring Program (PMP) collects, monitors, and analyzes electronically transmitted prescription and dispensing data submitted by pharmacies and dispensing practitioners. This data is then used to prevent OTC drug abuse. Therefore, the sales of over-the-counter drugs have been promoted.
People nowadays are very aware of general health problems, such as colds, coughs, allergies, fever, pain, acidity, diarrhea and skin-related diseases. The main population focuses on having a healthy lifestyle by avoiding junk food that can lead to an increase in lifestyle-related diseases such as diabetes, obesity and cardiovascular disease. The increasing tendency to maintain a healthy lifestyle has also led to the consumption of weight loss products and dietary supplements such as vitamins, minerals and supplements. The increase in Internet exposure has made it easier for consumers to obtain dietary supplements and over-the-counter (OTC) medications at affordable prices.
COVID-19 first started in Wuhan (China) in December 2019, and has spread rapidly around the world since then. In terms of confirmed cases and reported deaths, the United States, India, Brazil, Russia, France, the United Kingdom, Turkey, Italy and Spain are some of the most affected countries. Due to lockdowns, travel bans and business closures, COVID-19 has been affecting the economies and industries of various countries.
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According to products, the over-the-counter drug and dietary supplement market is segmented into analgesics, cough and cold products, vitamins and dietary supplements, gastrointestinal products, antacids, ophthalmic products, sleep aids, oral care products, feminine care, etc. In 2019, the analgesic market segment accounted for the highest proportion. The growth of this segment is attributable to the highest sales of general-purpose painkillers in the world. The sale of analgesics is widely used for acute and chronic pain. It does not require a prescription and can be easily obtained through different distribution channels. In addition, the department has obtained multiple product approvals in the market.
OTC drug and dietary supplement market: competitive landscape and key developments
GlaxoSmithKline; Sanofi; Johnson & Johnson; Abbott; AbbVie; Bausch Health Companies Inc.; Bayer AG; Procter & Gamble; Novartis AG and Reckitt Benckiser Group Plc. are in the OTC drug and dietary supplement market Leading company in operation.
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Contact us: If you have any questions about this report or want more information, please contact us: Contact: Sameer Joshi Email: sales@theinsightpartners.com Phone: 1-646-491-9876 Press release https://www .theinsightpartners.com/pr/otc-drug-and-dietary-supplement-market More research: https://www.biospace.com/article/otc-drug-and-dietary-supplement-market-gromming -About general Awareness of health issues/
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