Global Market For OTC Drugs And Dietary Supplements Grow To Nearly $190 Billion By 2018
(PRWEB) February 11, 2014
According to a new technical market research report Over-the-Counter Drugs (OTC) and Dietary Supplements: Global Markets, from BCC Research (http://www.bccresearch.com), the global market for OTC drugs and dietary supplements was valued at nearly $129 billion in 2012 and is estimated at nearly $143 billion for 2013. BCC Research projects the market to grow to nearly $190 billion by 2018, and register a five-year compound annual growth rate of 5.9% from 2013 to 2018.
Analgesics, antipyretics, gastrointestinal products, dermatology products, ophthalmic products, dental products, first aid supplies and smoking cessation products are among the leading therapeutic categories sold over the counter. OTC medicines and dietary supplements make up a multibillion-dollar business. It is spread throughout more than 80 countries and is expanding. Access to OTC medicines in these countries has helped people to take a more active role in the management of their own health and in the treatment of common illnesses.
The classification and delivery of OTC medicines primarily depend on national drug policies. Each nation decides on the extent to which self-care is to be practiced and encouraged and what range of medicines are to be made available without prescription. The regulations and policies vary widely around the globe. Some countries such as the U.S. have well-developed regulations and policies to encourage use of OTC medicines, while on the other hand many countries still maintain a conservative approach towards approval and marketing of OTC medicines.
This technical market research report from BCC Research provides an overview of the global market for OTC drugs and dietary supplements. It covers developed and emerging markets in order to help readers understand the current state of the OTC medicines and dietary supplements market and the key markets for its future development; reviews new regulations that will influence the development of the OTC medicines and dietary supplements market; and provides market drivers of and threats to the OTC medicines and dietary supplements industry. The study analyzes global market trends, with data from 2012 and 2013, and projections of CAGRs through 2018. It also presents information about how pharmacies affect the OTC drug market and provides updates on the latest merger and acquisition activity. In addition, this study includes company profiles of major players in the market.
This report is intended primarily for executives of pharmaceutical companies that are currently marketing OTC medicines and dietary supplements, executives of companies that provide third-party manufacturing and development facilities for OTC medicines and dietary supplements, and manufacturers of bulk active ingredients and inactive ingredients such as base, resins, pigments and other raw materials for the manufacturing of OTC medicines and dietary supplements. It will also benefit FMCG companies that intend to enter the OTC medicines and dietary supplements market; entrepreneurs, management consultants, and merger and acquisition (M&A) consultants; and financial institutions, venture capitalists and angel investors. Finally, manufacturers and exporters of alternate OTC medicines and food supplements, as well as government agencies, public health departments, and organizations working in regulations and process development of OTC medicines and dietary supplements will also find this report to be a valuable resource.