Fact.MR has published a new research report on global OTC analgesics market sizes, upcoming industry trends and growth opportunity through 2017-2022 to its online database that tries to unveil the various scenarios prevailing in the global OTC analgesics market. This assessment delivers a smart compilation of primary and secondary data which provides a clear insight about the future plans expected to impact the global OTC analgesics market. This study comprises of prominent data which makes it a beneficial source for investors, analysts and industry experts to acquire necessary knowledge associated to the fundamental market trends, opportunities and growth drivers.
The report commences by providing an executive summary, market dynamics and market taxonomy, underlining the factors which influence growth of the global OTC analgesics market. This executive summary offers the foundation on which the report is based, providing users with scope of the report. The executive summary contains key statistics and facts impacting the global OTC analgesics market. Analgesics are counter pain drugs, which stop the pain sensation for some time, or completely eliminate the feeling of pain. These drugs are often consumed by individuals, without the need for any necessary prescription, for type of pain which reoccurs or is of less degree. The drugs which don’t require prescription fall under OTC analgesics, for example drugs for reducing fever, or body pain killers.
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.
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Key market players profiled in Fact.MR’s report on the global market for OTC analgesics include Johnson & Johnson Service, Inc., Reckitt Benckiser Group Plc., GlaxoSmithKline Plc., Novartis AG, AstraZeneca Plc., Sun Pharmaceuticals Industries Limited, and Pfizer Inc. In terms of revenues, tablet form of OTC analgesics is estimated to account for more than half share of the market throughout the forecast period. Tablet OTC analgesics will continue to be sought-after among consumers across the globe.
The trend of utilizing off-label drugs, which are unapproved and affordable medications effective for treatment of diseases, has been gaining an uptick over the recent past. Management of symptoms related to pain has become easy and convenient owing to the availability of OTC analgesics, and these are further prescribed with approved drugs as the maintenance therapies. There is a high potential for growth of the global OTC analgesics market, with sales and demand for pain medication such as pain killers, or pain relievers gaining a significant prevalence among individuals. In addition, demand for non-narcotic pain medication has been witnessing a surge on the back of ill effects associated with narcotic drugs on patients. Topical analgesic manufacturers as well as distributor are increasing their product portfolio to gain huge profits from opportunities in the developed as well as developing markets.
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North America will continue to account for the largest revenue share of the market, and is estimated to retain its dominance in the global OTC analgesics market over the forecast period. In addition, Europe will remain the second most lucrative market for OTC analgesics, however the market in Japan will register a relatively faster expansion than in Europe through 2022. OTC analgesics in the form of tablets will account for more than half revenue share of the market over the forecast period. In addition, tablet OTC analgesics are anticipated to remain sought-after among consumers around the world. Capsule will continue to be the second largest sold OTC analgesics product in the global market, with sales expanding at the highest CAGR throughout the forecast period.
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