According to the report Asia-Pacific Over the Counter (OTC) Drugs Industry, published by Market Data Forecast, The Industry in Asia-Pacific region has been estimated at USD 43.46 billion in 2016 and is projected to reach USD 64.57 billion by 2021, at a CAGR of 8.24% during the forecast period from 2016 to 2021.
Over the counter (OTC) drugs are the safe and effective drugs, which can be bought without doctor’s prescription, which are used for common ailments. Acetaminophen, aspirin and ibuprofen are the most common OTC drugs.
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This has become a big hit in Asia, due to easy accessibility, low cost, convenience and customer-empowering qualities. The increasing number of chemists and pharma dispensaries is making the drugs readily available, thus, making it feasible for the consumers.
With the pro-active approach shown by public in Asia-Pacific region, the OTC drugs are made lower-priced. This is a major point which is driving the Industry. The alarming issues of drug substance abuse and lack of awareness in under-developed areas are constraining the progress of the Industry.
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The Asia-Pacific Industry is segmented based on product and geographically. The product Industry basically caters medicines in the categories like analgesics, cough, cold and flu products, dermatological products, gastrointestinal products, vitamins, minerals, weight loss products, sleep aids, ophthalmic products, smoking cession aids and other products. More than half of the Industry share belongs to categories like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories.
Australia, Japan, China and India are the leading contributors to the Asia-Pacific OTC drugs Industry. In East Asia, Japan takes the lead followed by China, Hong Kong, South Korea, Singapore and Malaysia. Japanese Industry is forecasted to saturate soon due to economic stagnation. Increasing adoption of western lifestyles and growing prosperities is leading to increase in Industry size and OTC demand.
GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi and Takeda are the leading companies that contribute to Asia-Pacific Industry.
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Key Points from Table of Contents
• Executive Summary
• Key Inferences
• New Developments
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Asia-Pacific OTC Drugs Industry: Segmentation
• Product Type
o Cough, Cold and Flu Products
o Vitamins and Minerals
o Dermatological Products
o Gastrointestinal Products
o Ophthalmic Products
o Sleep Aid Products
o Weight Loss/Diet Products
• By Formulation Type
• Distribution Channels
o Convenience stores
o Others (Online Drug Stores)
• South Korea
• PESTLE analysis
• Porter’s Five analysis
Industry Leaders’ Analysis
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