Introduction

The Indian Over The Counter (OTC) Drug Market, as reported by TechSci Research in their latest publication, “India Over The Counter (OTC) Drug Market – By Region, Competition Forecast and Opportunities, 2018-2028,” has displayed robust growth. In Fiscal Year (FY) 2022, the market reached a valuation of USD 4,666.15 million, and it is poised to maintain an impressive Compound Annual Growth Rate (CAGR) of 7.85% during the forecast period from 2023 to 2028. A multitude of factors are contributing to this expansion, including the burgeoning geriatric population, increased awareness of OTC drugs for self-medication, and the growing health consciousness among individuals to maintain their well-being.

Key Growth Factors

• Aging Population and Disease Prevalence: The geriatric population in India is on the rise, and with it comes a higher prevalence of health issues such as cold, cough, flu, fever, gastrointestinal problems (e.g., heartburn, acidity, constipation), and minor joint pains. This demographic shift is fueling the demand for OTC drugs as these individuals seek convenient and cost-effective solutions for their health concerns.
• Awareness of Cost-Effective Self-Medication: There’s a growing awareness among the populace regarding the cost-effectiveness of self-medication using OTC drugs. This is motivating individuals to choose OTC drugs for common health problems, and the trend is positively impacting the market’s growth.
• Expansion of E-Pharmacies: The increased prevalence of e-pharmacies, driven by digitalization and improved access to healthcare products, is bolstering the OTC drug market in India. Consumers are finding it more convenient to purchase OTC drugs online, further expanding the market’s reach.
• Rising Middle-Class Population: India is witnessing a substantial increase in its middle-class population. This segment is a significant consumer of OTC drugs, thereby creating a large consumer base for such products. The expanding middle-class population is a major driver of OTC drug market growth.

Browse over 32 market data Figures spread through 70 Pages and an in-depth TOC on “India Over The Counter (OTC) Drug Market ” – https://www.techsciresearch.com/report/india-over-the-counter-drugs-market/7243.html

Who Will Benefit from this Report

• Healthcare Professionals: Healthcare professionals will find valuable insights into the factors driving the growth of the OTC drug market, as well as the specific health concerns for which OTC drugs are in high demand. This knowledge can guide their patient care strategies.
• Pharmaceutical Manufacturers: Companies in the pharmaceutical sector can use this report to gain a comprehensive understanding of market dynamics, including which OTC drug categories are experiencing strong demand, enabling them to tailor their production accordingly.
• Investors: Investors looking for opportunities in the Indian healthcare sector can benefit from this report, which provides a clear picture of the OTC drug market’s current status and potential growth over the forecast period.
• Government and Regulators: Policymakers and regulatory bodies can leverage the insights in this report to understand how the OTC drug market is evolving, ensuring they have the necessary information for informed decision-making.

Market Segmentation

• Product Type: The OTC drug market is categorized into various product types, including Cough, Cold & Flu remedies, Vitamins, Minerals, and Supplements (VMS), Analgesics, Gastrointestinal Products, Dermatology Products, and Others. In FY2022, Cough, Cold & Flu products dominated the market, capturing a substantial 23.12% market share. This is primarily due to the high prevalence of these conditions, their quick spread, and the need for treatment among a large population.
• Dosage Form: The market is segmented by dosage form into Tablets, Capsules, Liquids, Ointments, and Others. Tablets emerged as the dominant dosage form in 2022, with a market share of 31.71%. Tablets are preferred for their ease of oral administration, cost-effectiveness, patient preference, and efficient large-scale manufacturing.
• Regional Analysis: In terms of regions, West India accounted for the largest market share, totaling 34.20% in the Indian OTC Drug Market. The region’s robust growth can be attributed to its rapidly expanding middle-class population, coupled with a fast-growing overall population, creating a critical mass of consumers favoring OTC medications.

This comprehensive report provides an in-depth analysis of the Indian Otc Drug Market, offering insights into growth drivers, market segmentation, and regional dynamics. It serves as a valuable resource for stakeholders across the healthcare industry, from professionals and manufacturers to investors and policymakers, helping them make informed decisions in this thriving market.

The leading companies operating in the India Over The Counter (OTC) Drug Market are:

·         Cipla Limited

·         Sun Pharmaceuticals Limited

·         Lupin Limited

·         GlaxoSmithKline Consumer Healthcare Limited

·         Dabur India Limited

·         Abbott India Limited

·         Dr. Reddy’s Laboratories Limited

·         Emami Limited

·         Reckitt Benckiser (India) Ltd

·         Johnson & Johnson Limited

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“In India, the Over The Counter (OTC) Drug Market is expected to grow rapidly over the next six years, owing to the country’s growing geriatric population. Furthermore, the country has a higher demand of Over The Counter (OTC) Drug   as a form of treatment of various health issues. The shift in consumer attitudes toward self-medication, product advancements, and pharmaceutical corporation’s preference for OTC pharmaceuticals over RX drugs are the main reasons leading to driving the rise of the Indian over-the-counter drugs market. On the other hand, Easy availability, Affordability, and increased awareness among patients along with the growing expenditure in R&D by Pharmaceutical company’s making the OTC drugs more safe and acceptable for the consumers, all these factors are expected to drive the Over The Counter (OTC) Drug Market forward in the near future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Over The Counter (OTC) Drug Market By Type of Product (Cold, Cough & Flu, Vitamins, Minerals & Supplements (VMS), Analgesics, Gastrointestinal Products, Dermatology Products, Others), By Route of Administration (Oral, Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of India Over The Counter (OTC) Drug  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) Drug Market.

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