As patents are expiring at a rising pace, the pharmaceutical giants are shifting from prescription (Rx) to over-the-counter (OTC) forms of available drugs, revealed the recently issued OTC Drugs & Dietary Supplements Market Report 2020–2030.
According to the Consumer Healthcare Products Association in the US, more than 100 ingredients and dose strengths have been converted from Rx to OTC, resulting in approximately 700 OTC products being available on the market.
The major drivers for this switch are the increased customers` need for self-medication and the urgent demand to reduce healthcare expenses.
Furthermore, lifestyle-related OTC products, such as weight loss pills and sleep aids, are widespread in developing countries. The availability of OTC cold, cough, or flu medicines has been growing slowly over time, as usual throughout the season.
The global market for the next ten years promises surprises. Thus, big players in the pharmaceutical industry should assess the critical factors to improve their global position.
The published report covers all the information on the potential sales projections up to 2030, as well as facts, trends, opportunities, growth rates, industry shares, constraints, challenges, and market forecasts. Moreover, the report also contains commercial innovations and product portfolios.
Finally, the report also includes original data analyses and observations about the potential impact of COVID-19 on the market. Predictions for 2030 and other studies shed light on business prospects during the pandemic.
There is still a lot of room for growth in the global OTC medicines and dietary supplements market. If you work in this industry, you will find the latest information on capitalizing on the possibilities in this report.