The market for OTC analgesics is foreseen to possess high potential for growth, with surging sales and demand for pain medication including pain killers, and pain relievers. High demand has been witnessed for narcotic pain medication on the back of adverse effects on patients consuming
narcotic drugs. The market for OTC analgesics will witness an impressive growth in both developing as well as the developed economies, creating opportunities for topical analgesic distributors and manufacturers in the near future. A recent report by Fact.MR provides an in-depth analysis about the global OTC analgesics market for the forecast period 2017 to 2022. The report’s primary objective is
to provide information and updates pertaining to growth opportunities in the global market for OTC
analgesics.
A recently published report by Fact.MR opines that the global OTC analgesics market will record a revenue of over US$ 20,000 Mn through 2022. A number of factors including the rising demand and sales success of pain relievers and pain killers are expected to drive the market growth.
Increasing demand to cure the patients on narcotic drugs in the healthcare sector, is a strong determinant for the OTC analgesics market growth. Rapid adoption of off-label medicines such as tricyclic antidepressants, anticonvulsants, antihistamines, selective serotonin reuptake inhibitors, steroids, and anti-anxiety drugs among consumers, have further fueled the demand for the OTC analgesics market.
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With distributors and manufacturers shifting their focus towards improving the product portfolio in the developed and developing economies, lucrative opportunity for growth of this OTC analgesics market at a global level has been envisaged. North America is anticipated to maintain its dominance over global OTC analgesics market, owing to the reformations in the healthcare industry and several pain relieving programs. With the advent of digital sales and distribution medium, the revenue share of global OTC analgesics market is projected to expand at an impressive rate.
OTC Analgesics Market: Crux of the Report
The advent of healthcare reforms, and favorable regulatory norms worldwide, have encouraged the initiation & uptake of several pain management programs, in a bid to reduce the overall healthcare costs. For example, Patient Protection and Affordable Care Act of the U.S. has provisions for pain management. These instances have paved ways for developing effective OTC analgesics. OTC analgesic drugs are usually purchased in large quantities, with wide availability of drugs for relieving various types of pain in distribution stores. These factors are expected to influence growth of the global OTC analgesics market.
This elaborative study offers an insight-rich outlook on the average pricing analysis and supply chain analysis. Market attractiveness has been analyzed and included in this report that offers a brief outlook on the OTC analgesics market. A descriptive taxonomy of this market at the global level has been analyzed and included in the report, depending on the OTC channel, product form, and region.
By considering the wide scope of global OTC analgesics market, Fact.MR’s report provides segmentwise analysis and forecast. The OTC analgesics market is categorized on the basis of OTC channel, product form and region. Segmentation analysis offered is comprehensive, along with the detailed
country-wise forecast offered on all parameters.
The regions analyzed in the report encapsulates North America, Western Europe, South East Asia and Pacific, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). A descriptive analysis for each of these geographies have been included in the report to briefly explain the dynamics of the OTC analgesics market.
Key market players mentioned in Fact.MR’s report include Sun Pharmaceuticals Industries Limited, Johnson & Johnson Service, Inc., AstraZeneca Plc., Reckitt Benckiser Group Plc., Novartis AG, GlaxoSmithKline Plc., and Pfizer Inc.
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