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The Over the Counter (OTC) Analgesics Market is Segmented by Type of Drug (Acetaminophen, Nonsteroidal Anti-inflammatory Drug (NSAIDs), Salicylates, and Other Analgesics), Distribution Channel, and Geography.
Fastest Growing Market:
The major factors boosting the growth of the market studied include the increasing demand in topical analgesics, growth in the geriatric population resulting in the rising prevalence of various diseases, and the cost-efficiency of OTC analgesics drugs.
As per the scope of this report, over-the-counter (OTC) analgesics are referred to as non-prescription analgesic drugs. These medicines can be bought by individuals without a doctor’s prescription, and they are safe for consumption. The market is segmented by type of drug, distribution channel, and geography.
|By Type of Drug|
|Nonsteroidal Anti-inflammatory Drugs (NSAIDs)|
|By Distribution Channel|
|Others Distribution Channels|
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OTC medicines are conveniently sold in several retail outlets, including those without pharmacies, and they are easily available. In the United States, there are more than 750,000 retail establishments nationwide, and both rural and urban consumers have 24/7 access to treatments for common, everyday conditions. Furthermore, most of the patients are preferring self medications without consulting a doctor or a pharmacist. However, the hospital pharmacies segment is expected to maintain a relatively low growth rate in terms of revenue generated through distribution of OTC drugs, as mostly the sale of OTCs takes place in case of non-prescribed drugs, and it is relatively easy for most consumers to acquire these drugs either from retail pharmacies or online pharmacies. Thus, owing to the rising geriatric population, affordability, and high accessibility of OTC analgesics, the market is expected to witness rapid growth over the forecast period.
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According to the Consumer Healthcare Products Association, 2019, it was estimated that about 93% of the Americans prefer to treat their minor ailments with OTC medicines before seeking professional care. Chronic pain has been linked to several physical and mental conditions, and contributes to high healthcare costs and lost productivity. In 2016, approximately 20.4% of adults in the United States had chronic pain, and 8.0% had high-impact chronic pain. Both kinds of pain were more widespread among adults living in poverty, adults with less than high school education, and adults with public health insurance. For the treatment of musculoskeletal injuries and disorders, many patients in the United States generally use non-prescription topical analgesics. Hence, with the increase in the prevalence of chronic pain, the demand for OTC analgesics is expected to increase, which is likely to drive the market over the forecast period.
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The market studied is fragmented in nature, owing to the presence of many small and large market players. Some of the major players are Bayer AG, Boehringer Ingelheim International GmbH, Johnson & Johnson, GlaxoSmithKline PLC, Pfizer Inc., Reckitt Benckiser Group PLC, Sanofi SA, Sun Pharmaceutical Industries Ltd, and Takeda Pharmaceutical Company Limited.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand in Topical Analgesics
4.2.2 Growth in the Geriatric Population Resulting in the Rising Prevalence of Various Diseases
4.2.3 Cost Efficiency of OTC Analgesics Drugs
4.3 Market Restraints
4.3.1 Drug Tolerance, Dependence, and Addiction and Abuse
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Drug
5.1.2 Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
5.1.4 Other Analgesics
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Online Pharmacies
5.2.4 Others Distribution Channels
5.3 By Geography
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bayer AG
6.1.2 Boehringer Ingelheim International GmbH
6.1.3 Johnson & Johnson
6.1.4 GlaxoSmithKline PLC
6.1.5 Pfizer Inc.
6.1.6 Reckitt Benckiser Group PLC
6.1.7 Sanofi SA
6.1.8 Sun Pharmaceutical Industries Ltd
6.1.9 Takeda Pharmaceutical Company Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments