(Food-Beverage-News.Com, March 18, 2017 ) According to the report Asia-Pacific OTC Drugs Market, published by Market Data Forecast, the Asia-Pacific market projected to reach USD 64.57 billion by 2021, at a CGSR of 8.24% from 2016 to 2021.
Over the counter (OTC) drugs are the effective and safe drugs, which can be bought without doctors prescription, which are used for common ailments. Acetaminophen, ibuprofen and aspirin are the most common OTC drugs.
This has become a big hit in Asia, due to easy accessibility, customer-empowering qualities, low cost, and convenience. The increasing number of chemists and pharma dispensaries is making the drugs readily available, thus, making it feasible for the consumers need.
With the pro-active approach shown by people in Asia-Pacific region, the OTC drugs are made lower-priced. This is a key point which is driving the market. The high sounding issues of drug substance abuse and lack of awareness in under-developed areas are restraining the progress of the market.
The Asia-Pacific OTC Drugs Market is segmented as following: Based on Product Type Analgesics Cough, Cold and Flu Products Vitamins and Minerals Gastrointestinal Products Ophthalmic Products Sleep Aid Products Weight Loss/Diet Products Others Based on Formulation Type: Tablets Liquids Ointments Sprays Based on Distribution Channels: Pharmacies Supermarkets/Hypermarkets Convenience stores Others (Online Drug Stores)
The key players in Asia-Pacific OTC Drugs Market are GSK Boehringer Ingelheim, Novartis, Bayer, Johnson and Johnson, Sanofi, GlaxoSmithKline, Pfizer, Takeda and PGT Healthcare. The maximum market share is possessed by Johnson and Johnson, Novartis, GlaxoSmithKline, and Sanofi. The extension of OTC service for the drugs dealing with chronic diseases like diabetes and hypertension is a new trend to be noticed.
The Asia-Pacific OTC Drugs Market study offers the following deliverables: Asia-Pacific, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the Asia-Pacific market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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