India Over The Counter Drugs Overview
Over-the-counter drugs are also called as non-prescription drugs. These medicines can be bought by individuals without a doctor’s prescription and are safe for consumption without a doctor’s consent. India is known as one of the emerging markets for OTC drugs and provides significant growth potential for the industry. These drugs offers inexpensive treatment and also help to decrease the workload of physicians and are easily available in pharmacies. The OTC drugs aids to build a diverse product portfolio of healthcare businesses for pharmaceutical companies.
Some restricted class of drugs involves pseudoephedrine, emergency contraception, and some schedule V controlled drugs. These products are referred to as OTC. However, such products are not easily dispensed on pharmacy counters. Moreover, a pharmacist dispenses such drug after confirming age, identity, and patient knowledge regarding usage of the product.
India Over The Counter Drugs Drivers & Restraints
Product innovations, shift in consumer attitude toward self-medication, and inclination of pharmaceutical companies toward OTC drugs from RX drugs are the major key factors propelling the growth of the Indian over-the-counter drugs market. In addition, expanding population, increasing healthcare expenditure, unhealthy dietary habits, and growing healthcare awareness leads to boost the market in India. Further, growing awareness about the cost-effectiveness of self-medication and OTC medicines is also a crucial factor in propelling market growth. Most companies are adopting multiple strategies to grab maximum market share. Some of the firms are switching existing RX formulations to OTC and relaunching them, some have acquired heritage brands and are reviving them, while others are building brands from the ground up.
- For instance, Glenmark Pharmaceuticals focused heavily on dermatology, respiratory, and, in India, cardiovascular, metabolic, and oncology products. These are the five segments in which the company is pretty dominant, particularly in India. However, largely rural population and low literacy rate coupled with a lack of specific regulations for OTC drugs are restraining the growth of the target market
India Over The Counter Drugs Segmentations & Regional Insights
India over the counter drugs (OTC) market is segmented based on product and distribution channel.
On the basis of product, India over the counter drugs (OTC) market is segmented into a cough, cold, and flu products, analgesics, dermatology products, gastrointestinal products, vitamins, minerals, and supplements (VMS), and other products. Based on the distribution channel, the market is classified into hospital pharmacies, retail pharmacy, and other distribution channels.
India Over the Counter Drugs (OTC) Market, By Product:
- Cough, Cold, and Flu Products
- Analgesics
- Dermatology Products
- Gastrointestinal Products
- Vitamins, Minerals, and Supplements (VMS)
- Other Products
India Over the Counter Drugs (OTC) Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacy
- Other Distribution Channels
India Over The Counter Drugs Competitive Landscape & Key Players
The key players operating India over the counter drugs (OTC) market include GlaxoSmithKline PLC, Emami Limited, Abbott Laboratories, Dabur India Limited, Procter & Gamble, Sun Pharmaceuticals Limited, Reckitt Benckiser Group PLC, Cipla Inc., Takeda Pharmaceutical Company, and Johnson & Johnson. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products in order to gain a competitive edge in the target market. For instance, in Feb 2018, Abbott partnered with Surmodics to develop their next-generation drug-coated balloon (DCB), in order to treat the superficial femoral artery, which is currently being evaluated in a US pivotal clinical trial.
India Over The Counter Drugs Recent News
- What is the total revenue potential of India over the counter drugs (OTC) market? How that market is expected to grow during the study period?
- What are the major growth opportunities in India over the counter drugs (OTC) market?
- Which companies are the major players in India over the counter drugs (OTC) market?
India Over The Counter Drugs Company Profile
- GlaxoSmithKline PLC
- Emami Limited
- Abbott Laboratories
- Dabur India Limited
- Procter & Gamble
- Sun Pharmaceuticals Limited
- Reckitt Benckiser Group PLC
- Cipla Inc.
- Takeda Pharmaceutical Company
- Johnson & Johnson
FAQs
India Over the Counter Drugs (OTC) Market worth US$ 10.23 Billion 2024 with a CAGR of 14.20%
The market report has been segmented on the basis of product and distribution channel.
the growth of e-commerce for OTC sales, the focus on wellness and preventive healthcare, and advancements in marketing and packaging strategies, presenting significant opportunities in the India Over the Counter Drugs (OTC) Market.
increasing consumer awareness, a shift toward self-medication, a wide range of OTC product offerings, and a growing middle-class population with increased purchasing power in India.
The report may primarily focus on India as a country-specific market. Domination within India is likely to be influenced by factors such as population density, healthcare accessibility, and distribution networks within the country.
The prominent player operating in the India over the counter drugs (OTC) market includes GlaxoSmithKline PLC, Emami Limited, Abbott Laboratories, Dabur India Limited, Procter & Gamble, Sun Pharmaceuticals Limited, Reckitt Benckiser Group PLC, Cipla Inc., Takeda Pharmaceutical Company, and Johnson & Johnson.