Over-the-Counter Drugs and Dietary Supplements give rise to Polypharmacy in Older Population

Posted November 8, 2019 by MarketResearchHub

Over-the-counter (OTC) drugs and dietary supplements can be purchased without prescription in regular places such as pharmacies, super markets and retail stores.

Over-the-counter (OTC) drugs and dietary supplements can be purchased without prescription in regular places such as pharmacies, super markets and retail stores. Health authorities have labelled these products as safe and effective treatments. These medicines are used in self-treatable health conditions and ailments that include common cold, allergies and minor pain. An intelligence report titled, “Over-the-Counter (OTC) Drugs and Dietary Supplements: Opportunities for Consumer Goods Distributors” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.

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Consumers across the globe are using dietary supplements as non-conventional medicines in their health care. OTC are preferred by many as it encourages participation on individual in maintaining their own health. Although OTC generates potential risks of incorrect self-medication, it is highly prevalent for its cost-effectiveness. On the other hand, dietary supplements market flourishes on the general perception of them being safe. Also, they are easily available in market as manufacturers are not required to provide safety proof. Physicians generally have a role to play in OTC intake, but dietary supplements are ingested without any guidance and advice.

Older adults form major customer segment

Older adults capture a greater market share of OTC and supplements. Polypharmacy ? use of too many different medications has been commonly observed in this age group which induces high probability of side effects from drug interactions. Self-medication is mainly used to cure pain such as musculoskeletal pain that are prolonged and difficult to cure.

OTCs are presumed to be first line of defense for minor ailments. Many health care professionals even prescribe OCTs to their patients to get over initial symptoms of physical conditions. Pharmacists play a critical role in expanding OTC and dietary supplements market as they assist patients in choosing products form the various available options. OTCs are eyed as economical options. They are affordable and cost-effective and positively influence publicly funded systems.

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Over-the-counter drugs and dietary supplements: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the Over-the-counter drugs and dietary supplements. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Over-the-counter drugs and dietary supplements. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Over-the-counter drugs and dietary supplements.

An insightful and deep-dive assessment of the competitive assessment of the Over-the-counter drugs and dietary supplements pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Over-the-counter drugs and dietary supplements. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

Over-the-counter drugs and dietary supplements: Research Methodology

Primary sources and secondary sources propel intelligence report on Over-the-counter drugs and dietary supplements that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.

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Categories Biotech , Health , Medical
Tags pharmaceutical market , European Market for OTC Drugs and Dietary Supplements , U.S. Market for OTC Drugs and Dietary Supplements
Last Updated November 8, 2019