Global Over the Counter (OTC) Drugs Market Report, published by Variant Market Research, forecast that the global market was valued at $125 billion in 2016 and is expected to reach $273 billion by 2024; growing at a CAGR of 10.2% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 10.8% and 10.4%, respectively, during the forecast period 2016-2024.

Increase in number of consumers preferring to buy drugs for minor diseases, without consultation of the doctor and convenience in direct purchase is the key factor driving the global over the counter & diet supplementary market. Also, other factor to fuel the market growth is technological advancement which has allowed consumer to get consultation through internet & easy availability of medical data. However, side effects due to high dosage and high regulation are factors which may restrict the growth of the market. Moreover, development in intact market, and product innovation is likely to gain significant impetus over the forthcoming years.

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The global Over the Counter drugs & diet supplementary market is classified on the basis of type and geography. By type the market is categorized into pain relievers & analgesic, cough, cold, dermatological products, flu products, mineral supplements, vitamin supplements, ophthalmic products, and others include (digestive products, weight loss products & sleep aids). The ophthalmic products segment is further categorized into glaucoma, dry eye, allergic & infective drugs, and other treatments.

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North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical classifications of the global Over the Counter (OTC) & diet supplementary market. Where the largest market share was accounted by North America in 2016, driven by high demand for OTC drugs in the U.S. And around one third of the global market share was occupied by Asia-Pacific driven by increased consumer consciousness in countries such as China and Japan. In terms of growth, Asia-Pacific is anticipated to raise at the fastest CAGR of 10.8% throughout the forecast period 2016-2024.

Major players in the global Over the Counter (OTC) drugs market are Johnson & Johnson Inc., GlaxoSmithKline Plc, Lucentis, Novartis AG, Restacis, Alkem Laboratories Limited, Vigamox, Sanofi, Bayer AG, Merck KGaA, Teva Pharmaceutical Industries Ltd., and Pfizer Inc., among others.

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Scope of Over the Counter Drug & Diet Supplement Market

Remedies Segments

• Analgesics remedies
• Dermatological remedies
• Digestive remedies

Geographical Segments

• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o United Kingdom
o Spain
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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