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(Medical-NewsWire.com, August 26, 2016 ) Technavio Announces the Publication of its Research Report Global Over-The-Counter (OTC) Drug Market 2016-2020
Technavio recognizes the following companies as the key players in the global over-the-counter (OTC) drug market: GSK, Johnson & Johnson, Pfizer, Bayer HealthCare, and Sanofi.
Other Prominent Vendors in the market are: Abbott, Achelios Therapeutics, American Health, Amgen, Arena Pharmaceuticals, AstraZeneca, BioGaia, Bristol Myers Squibb, Bukwang Pharmaceutica, Chr. Hansen, Cipla, CoLucid, Daiichi Sankyo, Dr. Reddy's Laboratories, DSM, Eisai, Eli Lilly, EMS, Euradite, Friggs, Genomma Lab Internacional, Glanbia, Herbalife, Himalaya Drug Company, Hypermarcas, Immune Pharmaceuticals, Innovative Med Concepts, Mcneil consumer healthcare, Mead Johnson, Merck, Mitsubishi Tanabe Pharma, NeurAxon, Omega Pharma, OptiNose¸ Pain Therapeutics, Procter & Gamble, Reckitt Benckiser, SAVA, Sigma Pharmaceuticals, Sun Pharma, Taisho Pharmaceuticals, Takeda Pharmaceuticals, Teva Pharmaceuticals, UCB, Unifarma Global Consumer healthcare, Valeant Pharmaceuticals, and Vida Laboratories.
Browse full report with TOC@ https://marketreportscenter.com/reports/356386/global-wet-fire-sprinkler-systems-market-2016-2020
Commenting on the report, an analyst from Technavios team said: Promotion and marketing initiatives will be a key trend for market growth. Vendors in this market are spending heavily on promotional activities targeted at both the healthy population and those with illnesses. They are trying to build a larger consumer base through marketing campaigns and activities through different media platforms. Marketing strategies for OTC products are very important, especially since these products lose the patent and enter the generic market, resulting in competition.”
According to the report, one of the key drivers for market growth will be rise in self-medication. The growing healthcare costs and an increase in the older population demand the need for better accessibility and affordability of healthcare services. Self-medication with non-prescription drugs play an important role in this and help in improving the accessibility and cost-benefits of healthcare services. Apart from this, the increase in self-care and self-medication is influenced by factors such as lifestyle, socioeconomic factors, and easy accessibility of drugs.
Further, the report states that presence of counterfeit drugs will be a challenge for the market. The sale of counterfeit OTC drugs in the market is increasing, and this problem is usually unreported to the regulatory authorities in majority of the cases. For instance, in April 2014, it was reported that over 2 million counterfeit drugs were seized from France, which included about 1 million packets of fake aspirin, which contained sugar in place of the API. It is estimated that counterfeit drugs account for 10% of the global market, as compared to 1% in the developed world, and the market for these drugs is on a rise. In the US, allergy OTC drugs are among the most counterfeited. Similarly, in 2015, over $100,000 worth fake medicines from the Philippines drugs market were seized.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About OTC Drugs
OTC drugs are medicines that can be bought without a prescription from a doctor because the US FDA considers them safe for use without medical supervision. These drugs are used to treat conditions that do not necessarily require a doctor's advice, such as pain, itches, cough and cold, sleeping problems, smoking cessation, weight problems, gastrointestinal problems, and tooth decay. They are sold through hospitals, pharmaceutical stores, grocery stores, catalogs, and online retail stores.
Technavios analysts forecast the global over-the-counter (OTC) drug market to grow at a CAGR of 6.19% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global over-the-counter (OTC) drug market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of OTC drugs used to treat disorders, including gastrointestinal disorders, pain, and dermatological and respiratory disorders.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Over-The-Counter (OTC) Drug Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
To Get Discount On The Report @ https://marketreportscenter.com/request-discount/356386
Connect for more details:
Sam Collins
Market Reports Center
1-646-883-3044 (US)
info@marketreportscenter.com
Market Reports Center
Sam Collins
1-646-883-3044
sam@marketreportscenter.com
Source: EmailWire.Com 
Source: EmailWire.com
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