India Over the Counter Drugs Market is projected to reach $15.48 billion by 2021

11/set/2017 09:08:20 MDFtends Contatta l'autore

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India Over the Counter Drugs Market was worth $6.38 billion in 2016 and estimated to be growing at a CAGR of 19.4%, to reach $15.48 billion by 2021. The market is showcasing evident potential in the mentioned forecasting period. Non Prescription drugs are drugs that are sold over the counter, which means which means that they can be sold without a doctor’s prescription.  They can also be referred as Over-the-Counter (OTC) drugs. There are wide number of therapeutic applications for OTC drugs ranging from weight control drugs to analgesic drugs and many more.

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India is the 11th largest market for OTC drugs in the world. Government and different pharmaceuticals companies are taking up various initiatives to create awareness about different drugs and shift Rx to OTC. Urban India is catching up with the notion of OTC drugs due to the advent of technology and advertisements, high work stress levels and increasing health awareness.

Increasing disposable income of the people along with an increase in the health consciousness and growing number of aging population with new social diseases in the region are the two major factors Driving the market in the region. Increasing awareness about the cost effectiveness of self-medication and OTC medicines is also a crucial factor fuelling the market growth. However, doctor’s willingness to prescribe OTC and prohibition of advertising for common ailments are the major restraints hindering the growth of the market.

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India Over the Counter Drugs market is broadly categorized into Formulation, Application and Distribution Channel. On the Basis of formulation, the market is segmented into Liquids, Tablets, Ointments and Sprays. Based on Application the market is analysed as Analgesics, Antiseptics, Anti-Allergy Drugs, Cough, Cold and Flu Drugs, Dermatologics, Gastrointestinal drugs, Vitamins and Minerals, Weight Loss/Diet Drugs, Sleep Aids, Ophthalmics, Smoking Cession Aids and Other Products. Vitamins and minerals is the largest product type accounting for a share of approximately 26% of the total market value followed by Cough and cold preparations segment with a share of around 20%. By distribution channels market is segmented into pharmacies, supermarkets/Hypermarkets, convenience stores and others.

Some of the major companies dominating the market are GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Boehringer Ingelheim, Sanofi, Takeda, Cipla and Dabur India Limited

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