Mon. Dec 6th, 2021

Increase in health consciousness is expected to drive the growth of India over the counter (OTC) drugs market during the forecast period.

According to TechSci Research report, India Over the Counter (OTC) Drugs Market By Product (Cough, Cold and Flu, Analgesics, Dermatology Products, Vitamins, Mineral and Supplements (VMS), Other), By Dosage Form (Tablets, Capsules, Powders, Ointments, Liquids), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacy, Others), By Company, By Region, Forecast & Opportunities, FY2026, the India over the counter (OTC) drugs market is expected to grow at a significant pace during the forecast period. Buying OTC drugs is cost effective as they need no prescription which is expected to fuel the market growth through FY2026. In addition to this, rising trend among individuals to choose OTC drugs for minor diseases is further anticipated to bode well for the growth of market over the coming years. Also, general health concerns among the people is making headway for the market growth. However, stringent regulations by the FDA regarding safety and efficacy of OTC drugs can restrict the market growth over the next few years.

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The India over the counter (OTC) drugs market is segmented based on product, dosage form, distribution channel, company, and region. Based on distribution channel, the market can be fragmented into hospital pharmacies, retail pharmacies, online pharmacy, others. Out of which, retail pharmacies segment was the leading segment in the market until FY2020 and is further projected to maintain its position over the coming years as well which can be accredited to its easily accessibility. Furthermore, retail pharmacies have availability of a variety of drugs which is further contributing to its growing trend. Based onproduct, the market can be categorized into cough, cold and flu, analgesics, dermatology products, vitamins, mineral and supplements (VMS) and other. Out of these, the cough, cold, and flu products segment dominated the market in terms of largest market share until FY2020. This can be ascribed to surging count of infections in the country which is leading to the rise in the number of infectious diseases. The market is further driven by the increasing efforts to licencing of OTC drugs for the treatment of cough, cold and flu. Besides, vitamins, mineral, and supplements (VMS) segment is witnessed to grow at a high pace in the next 5 years owing to increasing popularity of VMS products in India because of the increasing diseased population.

GlaxoSmithKline Pharmaceuticals Ltd, Emami Limited, Abbott India Limited, Dabur India Limited, Procter & Gamble Health Limited, Reckitt Benckiser India Limited, Sun Pharmaceuticals Limited, Cipla Ltd., Takeda Pharmaceuticals Company Limited, Johnson & Johnson Private Limited. and others are some of the leading players operating in India over the counter (OTC) drugs market. Companies operating in the market are using Go-To-Market strategies such as product launches, mergers and acquisitions and research collaborations to boost their share and increase their geographic reach.

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“India over the counter (OTC) drugs market is expected to witness growth during the forecast period on account of rapidly expanding pharmaceuticals industries in the country. Also, growing trend of self-medication in India is further expected to create lucrative opportunities for the market growth of India over the counter (OTC) drugs market over the next five years. In addition to this, switching from Rx to OTC drugs by pharmaceutical companies is further projected to aid market growth in the years to come.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

India Over the Counter (OTC) Drugs Market By Product (Cough, Cold and Flu, Analgesics, Dermatology Products, Vitamins, Mineral and Supplements (VMS), Other), By Dosage Form (Tablets, Capsules, Powders, Ointments, Liquids), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacy, Others), By Company, By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of India over the counter (OTC) drugs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India over the counter (OTC) drugs market.

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