India's Over the Counter Drugs (OTC) market has witnessed remarkable growth, boasting an impressive Compound Annual Growth Rate (CAGR) of 14.20%. The market's value has surged to a staggering US$ 10.23 Billion, reflecting the increasing popularity of self-medication and the availability of a diverse range of OTC products across the country. This rapid expansion highlights the growing importance of OTC medications in India's healthcare landscape and indicates a promising future for the industry.

The report "India Over the Counter Drugs (OTC) Market, By Product (Cough, Cold, and Flu Products, Analgesics, Dermatology Products, Gastrointestinal Products, Vitamins, Minerals, and Supplements (VMS), and Other Products), By Distribution Channel (Hospital Pharmacies, Retail Pharmacy, and Other Distribution Channels) - Trends, Analysis and Forecast till 2030.

Sample link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/4113

Key Highlights:

·         In Jan 2018, Takeda Pharmaceuticals International signed a framework agreement with US-based OTC medicines maker firm, Unipharm.

·         In November 2018, Sun Pharma entered into a definitive agreement to acquire Pola Pharma Inc., a Japanese pharmaceutical company engaged in R&D, manufacture, sale, and distribution of branded and generic products in Japan. The portfolio of Pola Pharma primarily comprises dermatology products.

Analyst view:

From an analyst's perspective, India's Over the Counter Drugs (OTC) market is showing strong growth potential, supported by a robust CAGR of 14.20%. The increasing adoption of self-care practices, changing consumer preferences, and the ease of accessibility to OTC medications are key drivers contributing to the market's expansion. As the value of the market reaches a significant milestone of US$ 10.23 Billion, it indicates a growing awareness among consumers about the benefits of OTC drugs and their convenience over prescription-based alternatives. However, analysts may also keep an eye on regulatory developments, potential competition, and the impact of external factors like the ongoing pandemic or economic conditions, which could influence the market's future trajectory. Overall, the positive trends observed in India's OTC market present lucrative opportunities for businesses and underscore the importance of continuous monitoring and strategic planning for sustained growth in this dynamic sector.

Competitive Landscape:

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.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.