Rising Diseases To Boost Over-The-Counter Analgesics Market Growth

 

Counter Analgesics Market

The Over-The-Counter Analgesics Market by Type of Drug (Acetaminophen, Nonsteroidal Anti-inflammatory Drug (NSAIDs), Salicylates, and Other Analgesics​), Distribution Channel (Hospital Pharmacies​, Retail Pharmacies​, Online Pharmacies​, and Other Distribution Channels​), and By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The Global Over-The-Counter Analgesics Market is estimated to be valued at US$ 26,298.79 million in 2021, and is expected to exhibit a CAGR of 4.5 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Over-the-counter analgesics are those that can be vend directly to people with no prescription. Over- the- Counter drugs cure  numerous illnesses and their prodromes comprising pain, coughs and colds, diarrhea, constipation, acne, and others. Few Over- The-Counter analgesics have active elements with the strength for misuse at vast-than-stated dose. Misapplication of an Over-The-Counter analgesics means, taking drugs in a way or dosage other than absorbed on the package, taking drugs for the impact it leads- for instance, to get much, mixing Over the Counter drugs collectively to make new goods, there are 2 Over- the-Counter analgesics that are most generally distorted.

Competitive Landscape:

Key players involved in the growth of global Over-the-counter Analgesics Market are Sun Pharmaceutical Industries Ltd.,  ayer AG, Johnson & Johnson,  Boehringer Ingelheim International GmbH, Reckitt Benckiser Group PLC, GlaxoSmithKline PLC, Pfizer Inc., Sanofi SA.

Market Key Drivers:

Rising prevalence of diseases is projected to boost Over-the-counter Analgesics Market growth. For instance, as per the CDC, in 2019, 20.4% of adults had chronic pain and 7.4% of adults had chronic pain that frequently restricted work activities.

Rising consumer appetite and increasing use of OTC is anticipated to drive the growth of global Over-the-counter Analgesics Market. For instance, as per the Consumer Healthcare Products Association, 2019, it was stated that around 93% of Americans choose to cure their small ailments with OTC analgesics.

Covid-19 Impact Analysis:

The Covid-19 outbreak has positively affected the growth of global as it considerably inclined the sales of these analgesics with the progressive focus on personal well-being. The necessity for cold and cough OTC drugs has already been vast, and dietary supplements are known to have a huge growth rate mostly owing to COVID-19.

Key Takeaways:

The Global MEMS Pressure Sensors Market is anticipated to exhibit a CAGR of 4.5 % during the forecast period due to increasing approvals and launches. For instance, in September 2020, Dr Reddy's Laboratories introduced OTC Diclofenac Sodium topical gel, utilized for arthritis pain, in the US market.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global MEMS Pressure Sensors Market due to rising approvals and launches, increasing mergers and acquisitions, rising chronic and lifestyle diseases. For instance, as per Statistics Canada, around 54, 44,600 people aged between 18 to 65 years and more were suffering from hypertension in 2020 in Canada.