TechNavio today launched its report, Global Over-the-counter Pharmaceuticals Market 2012-2016, based on an in-depth analysis covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Healthcare team said: ”Mergers and acquisitions help vendors grow rapidly and expand their business. The Global Over-the-counter (OTC) Pharmaceuticals market is nowadays witnessing an increase in mergers and acquisitions among vendors. For instance, Sanofi acquired US-based Chattem Chemicals Inc., a leading manufacturer of branded consumer healthcare products, toiletries, and dietary supplements. This acquisition will increase the company’s share in the Consumer Healthcare market in the US. Similarly, JandJ acquired Synthes Inc. in June 2012 to strengthen its orthopedics business and its position in developing countries.”
According to the report, one of the key factors driving the Global OTC Pharmaceuticals market is the increasing switch from prescription drugs to OTC drugs. Since OTC drugs are cost-effective, they help cut down the overall healthcare costs. Moreover, there is a trend to move some drugs from prescription category to OTC category as part of product lifecycle management. Furthermore, many consumers prefer OTC drugs because of their easy availability. Some patients prefer OTC drugs to avoid visiting a doctor. The OTC Drug market in the US grew tremendously in 2011 because of the launch of the OTC version of the drug Allegra, which is Sanofi’s major allergy relief drug. Thus, increasing switch from prescription to OTC drugs has increased the demand for OTC drugs significantly.
Further, the report reveals that one of the major challenges in the market is the recall of some OTC products by the US FDA and the voluntary recall of some OTC drugs by some vendors.
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. For further information on this report, please visit https://www.technavio.com/content/global-over-counter-pharmaceutical-mark…
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Healthcare market research, please visit https://www.technavio.com/healthcare
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TechNavio Announces the Publication of its Research Report – Global Over-the-counter Pharmaceuticals Market 2012-2016
