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The India over the counter (OTC) drugs market is expected to exhibit a CAGR of 16.87% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Over-the-counter (OTC) drugs are non-prescription drugs that can be consumed by individuals without requiring a prescription from a healthcare professional. They are commonly effective and safe for consumption, provided the directions mentioned on the label or medicine strip are followed. A wide range of OTC drugs is available in the market, including cough, cold, and flu medicines, dermatology products, analgesics, gastrointestinal drugs, and vitamins, minerals, and supplements (VMS). They are essential in treating recurring ailments, such as allergies, pain, headache, toothache and menstrual cramps. They are easily available across hospital pharmacies, retail pharmacies, online retail channels, and supermarkets and hypermarkets.
The market is primarily driven by the escalating preference for self-medication across India. This can be attributed to the high consulting fees charged by healthcare professionals. In addition to this, a considerable rise in the geriatric population that is susceptible to developing multiple ailments is providing a boost to product sales. Several initiatives and schemes undertaken by the government to reduce the prices and promote the sales of OTC drugs are also providing an impetus to the market growth in the country. Apart from this, the shifting preference of the consumers towards e-commerce websites has led to the extensive sales of OTC drugs via online pharmacies, which, in turn, is creating a positive outlook for the market. The market is further driven by continual product innovations and increasing investments in extensive research and development (R&D) activities. Some of the other factors contributing to the market include the inflating disposable income levels of the masses, the growing stress levels among working professionals, and the rising health awareness among individuals.
IMARC Group provides an analysis of the key trends in each sub-segment of the India over the counter (OTC) drugs market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on product type, route of administration, dosage form and distribution channel.
Breakup by Product Type:
Breakup by Route of Administration:
Breakup by Dosage Form:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Route of Administration, Dosage Form, Distribution Channel, Region|
|Region Covered||North India, West and Central India, South India, East India|
|Customization Scope||10% Free Customization|
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We expect the India over the counter (OTC) drugs market to exhibit a CAGR of 16.87% during 2022-2027.
The increasing adoption of OTC drugs to treat minor ailments, along with the growing demand for nutritional supplements, owing to the emerging trend of self-care, is primarily driving the India over the counter (OTC) drugs market.
The sudden outbreak of the COVID-19 pandemic has led to the rising inclination towards OTC drugs, including antibiotics, multi-vitamin tablets, cough syrups, etc., for treating the mild symptoms of the coronavirus infection across the nation.
Based on the product type, the India over the counter (OTC) drugs market has been divided into cough, cold and flu products, analgesics, dermatology products, gastrointestinal products, Vitamins, Minerals and Supplements (VMS), weight-loss/dietary products, ophthalmic products, sleeping aids, and others. Among these, cough, cold and flu products currently exhibit a clear dominance in the market.
Based on the route of administration, the India over the counter (OTC) drugs market can be categorized into oral, parenteral, topical, and others. Currently, oral accounts for the majority of the total market share.
Based on the dosage form, the India over the counter (OTC) drugs market has been segregated into tablets and capsules, liquids, ointments, and others, where tablets and capsules currently hold the largest market share.
Based on the distribution channel, the India over the counter (OTC) drugs market can be bifurcated into hospital pharmacies, retail pharmacies, online pharmacies, and others. Currently, retail pharmacies exhibit a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where West and Central India currently dominates the India over the counter (OTC) market.
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