DUBLIN–(BUSINESS WIRE)–The “India Over The Counter Drug Market, By Product Type, By Route of Administration, By Dosage Form, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.
India Over the Counter (OTC) Drug market stood at USD4666.15 Million in 2022 and is expected to grow at a steady CAGR of 7.85% during the forecast period.
The over the counter (OTC) drug market is driven by growing geriatric population suffering from various diseases. Additionally, prevalence of disease among the youth due to their everyday lifestyles is a major factor that drives this segmental growth.
Furthermore, easy availability, affordability, and increased awareness among patients about these over the counter (OTC) drugs are the major drivers that are driving the production of newer and more efficient over the counter (OTC) drugs in India. This in turn is anticipated to positively impact the market growth.
Furthermore, over the counter (OTC) drug manufacturers are more aware about the need for accessible health solutions among people due to the unhealthy dietary habits and thus making drug more efficient, reliable and affordable.
They are coming up with new formulations that are designed to cope with the busy lifestyle, treating the patient and thereby gaining the consumer trust and reliance for the Over the Counter (OTC) drug market. The digital availability of the over the counter (OTC) drugs with the penetration of online pharmacies is a booster for the over the counter (OTC) drug market as it helps users and make things easier for him/her to and thereby increasing the over the counter (OTC) drug market.
Increasing Awareness for Self-Medication Drives Market Growth
Self-medication is the practice of taking medications, to treat self-diagnosed symptoms, without getting a Doctor’s prescription otherwise on one’s own initiative or on the recommendation of another individual. Easy access, availability and awareness are nowadays the most common reason behind practicing self-medication. Self-medication is being practiced frequently ~53.57% (according to a survey by a journal of National `Library of Medicine) in India and is practiced most among the middle-class family. This self-medication trend is anticipated to drive the cough and cold, gastrointestinal, analgesics, multivitamins and dermatological segment of the Over The Counter (OTC) Drugs in the country. The most frequent usage of Over The Counter (OTC) Drugs is in Fever, Headaches, Toothache ,acne, constipation, Musculoskeletal pains and Cold, Cough & Flu. People are more relaying on this self-medication as it is time saving, often based on previous recommendation as well as the need for faster relief thus driving the market growth by increasing dependency and reach for the Over The Counter (OTC) Drug Market.
Rise in Disease Prevalence among the Elderly are Increasing the Market Demand
The increase of disease prevalence among the growing elderly geriatric population is a measure that is expanding the Over The Counter (OTC) Drug market demand. The dependency on several Over The Counter (OTC) products like Laxatives, Cold, Cough and Flu along with mild analgesics and pain reliever ointments for the geriatric population, is a major reason for the increased demand. Nowadays, due to rising frequency of several old age health issues many Over The Counter (OTC) drugs such as pain reliever and ointments are directly related to their comfort and independency for carrying their everyday lifestyle, thus indirectly maintaining the continuous demand and thus expanding their Over The Counter (OTC) Drug market.
India Over The Counter (OTC) Drug Market, By Type of Product:
India Over The Counter (OTC) Drug Market, By Route of Administration:
India Over The Counter (OTC) Drug Market, By Route of Administration:
India Over The Counter (OTC) Drug Market, By Dosage Form:
Over The Counter (OTC) Drug Market, By Type of Distribution Channel:
Wheelchair Market, By Region:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on India Over The Counter (OTC) Drug Market
5. Voice of Customer
6. India Over The Counter (OTC) Drug Market Outlook
7. West India Over the Counter (OTC) Drug Market Outlook
8. South India Over the Counter (OTC) Drug Market Outlook
9. North India Over the Counter (OTC) Drug Market Outlook
10. East India Over the Counter (OTC) Drug Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Policy & Regulatory Landscape
14. Import-Export Analysis
15. India Economic Profile
16. Competitive Landscape
17. Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/no3obs
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