Press release
India's OTC Drugs Market Aims for $19.4 Billion, Anticipating 16.7% CAGR by 2028
IMARC Group's report titled "India's OTC Drugs Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The India over the counter (OTC) drugs market size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.4 Billion by 2028, exhibiting a growth rate (CAGR) of 16.7% during 2023-2028.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/india-over-the-counter-drugs-market/requestsample
Factors Affecting the Growth of the India Over the Counter (OTC) Drugs Industry:
• Increasing Health Awareness and Self-Care:
The India OTC drugs market is significantly driven by the growing health awareness and the rising trend of self-care among consumers. As individuals become more proactive about their health, they increasingly turn to OTC drugs and remedies for managing common health concerns. The convenience of accessing OTC medications without the need for a prescription aligns with consumers' desire to take control of their well-being. This trend reflects a shift toward a more health-conscious society, where consumers seek accessible and self-administered solutions for minor health issues, thus fueling the demand for OTC drugs.
• Wider Availability and Accessibility:
The rapid expansion of distribution channels and the increased availability of OTC drugs are key drivers of market growth in India. OTC medications are no longer limited to pharmacies; they are also readily available in grocery stores, supermarkets, and through online retailers. This enhanced accessibility makes it more convenient for consumers to purchase OTC drugs. The diversification of sales channels ensures that OTC drugs are easily within reach, aligning with the changing preferences and lifestyles of consumers who seek convenient and accessible healthcare solutions for common ailments.
• Government Regulatory Support:
Government policies and regulations play a major role in fostering the growth of the India OTC drugs market. Regulatory authorities are simplifying the approval process for OTC drugs, making it more feasible for manufacturers to introduce new products to the market. Additionally, government-led public health campaigns and educational initiatives are raising awareness about the safe and responsible use of OTC drugs. This ensures consumer safety and instils confidence in the efficacy of OTC medications. Government support, both in terms of regulation and education, is contributing significantly to the expansion and credibility of the OTC drugs sector in India.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in India over the counter (OTC) drugs market.
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/india-over-the-counter-drugs-market
India Over the Counter (OTC) Drugs Market Report Segmentation:
By Product Type:
Cough, Cold and Flu Products
Analgesics
Dermatology Products
Gastrointestinal Products
Vitamins, Minerals and Supplements (VMS)
Weight-loss/Dietary Products
Ophthalmic Products
Sleeping Aids
Others
Cough, cold and flu products represented the leading segment due to the high prevalence of these ailments and the escalating demand for symptom relief and self-treatment options.
By Route of Administration:
Oral
Parenteral
Topical
Others
Oral accounted for the largest market share owing to the ease of use and familiarity of oral medications, making them a preferred choice for consumers.
By Dosage Form:
Tablets and Capsules
Liquids
Ointments
Others
Tablets and capsules represented the largest segment as they offer convenient and precise dosing, aligning with consumers' preferences for ease of administration.
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others
Retail pharmacies held the majority of the market share on account of their widespread presence, accessibility, and the trust consumers place in these established outlets for OTC drug purchases.
Regional Insights:
North India
West and Central India
South India
East India
West and Central India's dominance in the India over the counter (OTC) drugs market is attributed to the region's high population density, rapid urbanization, and robust healthcare infrastructure.
India Over the Counter (OTC) Drugs Market Trends:
In India, the OTC drugs market is primarily driven by increasing health awareness and the shifting trend toward self-care have empowered consumers to seek OTC solutions for common health issues. The enhanced convenience of accessing medications without a prescription aligns with the desire for personal health management.
Apart from this, the rapid expansion of distribution channels and the widespread availability of OTC drugs are other major growth-inducing factors. OTC medications are now easily accessible in grocery stores, supermarkets, and online, catering to the evolving preferences and lifestyles of consumers. Furthermore, the rising government support through simplified regulatory processes and public health campaigns has catalyzed market growth.
Contact Us:
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/india-over-the-counter-drugs-market/requestsample
Factors Affecting the Growth of the India Over the Counter (OTC) Drugs Industry:
• Increasing Health Awareness and Self-Care:
The India OTC drugs market is significantly driven by the growing health awareness and the rising trend of self-care among consumers. As individuals become more proactive about their health, they increasingly turn to OTC drugs and remedies for managing common health concerns. The convenience of accessing OTC medications without the need for a prescription aligns with consumers' desire to take control of their well-being. This trend reflects a shift toward a more health-conscious society, where consumers seek accessible and self-administered solutions for minor health issues, thus fueling the demand for OTC drugs.
• Wider Availability and Accessibility:
The rapid expansion of distribution channels and the increased availability of OTC drugs are key drivers of market growth in India. OTC medications are no longer limited to pharmacies; they are also readily available in grocery stores, supermarkets, and through online retailers. This enhanced accessibility makes it more convenient for consumers to purchase OTC drugs. The diversification of sales channels ensures that OTC drugs are easily within reach, aligning with the changing preferences and lifestyles of consumers who seek convenient and accessible healthcare solutions for common ailments.
• Government Regulatory Support:
Government policies and regulations play a major role in fostering the growth of the India OTC drugs market. Regulatory authorities are simplifying the approval process for OTC drugs, making it more feasible for manufacturers to introduce new products to the market. Additionally, government-led public health campaigns and educational initiatives are raising awareness about the safe and responsible use of OTC drugs. This ensures consumer safety and instils confidence in the efficacy of OTC medications. Government support, both in terms of regulation and education, is contributing significantly to the expansion and credibility of the OTC drugs sector in India.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in India over the counter (OTC) drugs market.
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/india-over-the-counter-drugs-market
India Over the Counter (OTC) Drugs Market Report Segmentation:
By Product Type:
Cough, Cold and Flu Products
Analgesics
Dermatology Products
Gastrointestinal Products
Vitamins, Minerals and Supplements (VMS)
Weight-loss/Dietary Products
Ophthalmic Products
Sleeping Aids
Others
Cough, cold and flu products represented the leading segment due to the high prevalence of these ailments and the escalating demand for symptom relief and self-treatment options.
By Route of Administration:
Oral
Parenteral
Topical
Others
Oral accounted for the largest market share owing to the ease of use and familiarity of oral medications, making them a preferred choice for consumers.
By Dosage Form:
Tablets and Capsules
Liquids
Ointments
Others
Tablets and capsules represented the largest segment as they offer convenient and precise dosing, aligning with consumers' preferences for ease of administration.
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others
Retail pharmacies held the majority of the market share on account of their widespread presence, accessibility, and the trust consumers place in these established outlets for OTC drug purchases.
Regional Insights:
North India
West and Central India
South India
East India
West and Central India's dominance in the India over the counter (OTC) drugs market is attributed to the region's high population density, rapid urbanization, and robust healthcare infrastructure.
India Over the Counter (OTC) Drugs Market Trends:
In India, the OTC drugs market is primarily driven by increasing health awareness and the shifting trend toward self-care have empowered consumers to seek OTC solutions for common health issues. The enhanced convenience of accessing medications without a prescription aligns with the desire for personal health management.
Apart from this, the rapid expansion of distribution channels and the widespread availability of OTC drugs are other major growth-inducing factors. OTC medications are now easily accessible in grocery stores, supermarkets, and online, catering to the evolving preferences and lifestyles of consumers. Furthermore, the rising government support through simplified regulatory processes and public health campaigns has catalyzed market growth.
Contact Us:
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
