London, 13 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global gastrointestinal OTC drugs market 2015-2019, which is expected to post a CAGR of 1.48% during the forecast period of 2014-2019.
A rise in the number of patients affected with diarrhea, constipation, and GERD in various countries, the widening distribution channels, and the affordability of drugs propel market growth. Currently, many patients are opting for OTC drugs over prescription drugs for self-medication in the management of gastrointestinal disorders
“Changes in the policies of the governments in various countries resulted in the increased preference for OTC drugs over prescription drugs,” says Faisal Ghaus, Vice President of Technavio.
“Patients suffering from mild conditions that do not require serious care can treat themselves or self-medicate with OTC drugs. These drugs are more affordable than prescription drugs and result in less frequent withdrawal from treatment regimens.”
Key Market Drivers
- Increase in patient population
- Regulatory framework and distribution channel
- Non-complex disease etiology
- Growing geriatric population
- Cost-effective OTC drugs
Key Market Trends
- Strategic alliances
- Preference for OTC drugs
- Self-medication
- Emerging markets
- Increased awareness of gastrointestinal disorders
Key Market Vendors
- Bayer AG
- GlaxoSmithKline plc
- Johnson & Johnson Ltd.
- Perrigo Co. plc
- Pfizer Inc.
- Procter & Gamble Co.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
