(PharmaNewsWire.Com, July 07, 2017 ) Germany Over the Counter (OTC) drugs market has been estimated at USD 7.35 billion in 2016 and is projected to reach USD 8.17 billion by 2021, at a CAGR of 2.15% during the forecast period from 2016 to 2021. Over the Counter (OTC) drugs can be dispensed without prescription of healthcare professionals. These drugs are safe & effective and can be bought at the pharmacies and local stores, over the counter. These drugs are occasionally used for common disease conditions (cold & flu, analgesia, cough, skin diseases, and other disease conditions). Most commonly marketing OTC drugs in Germany include Acetaminophen, Aspirin, Ibuprofen, Voltaren Gel, and Dorithricin, among others. OTC drugs are developed under OTC Monograph process or through New Drug Application (NDA) process. These drugs come with a monograph, on which the ingredients of the drug, recommended dosage and user instructions are written.
Rising import of OTC drugs, increasing self-medication, growing healthcare awareness among public, and rising health care costs are some of the factors driving the growth of OTC drugs market in Germany. In addition, increasing number of chemists & pharma dispensaries and the key benefits offered by OTC drugs such as quick availability, affordability, ease of access, & customer-empowering qualities are further stimulating the growth of OTC medicines. However, lack of proper reimbursement policies, strict regulations for the import of the medicines including OTC drugs, complications involved in taking wrong medication due to lack of knowledge, and availability of other therapies (such as homeopathy) are expected to restrain the growth of OTC drugs market in Germany.
The market is segmented based on formulation type such as tablets, liquids, ointments, sprays. Among these, tablets segment commands the major market share in Germany Over the Counter (OTC) drugs market, by formulation type in 2016. OTC drugs market is also segmented based on products type such as Cough, Cold and Flu Drugs, Analgesics, Dermatologicals, Gastrointestinal Drugs, Antiseptics, Anti-Allergy Drugs, Smoking Cession Aids, Ophthalmic Drugs, Vitamins & Minerals, Sleep Aids, Weight Loss Medicines, and Other Drugs (Ear Drops & Diuretics). Of these, Analgesics, Cough, Cold & Flu, Dermatologicals, and Gastrointestinal drugs account for the largest market share in Germany Over the Counter (OTC) drugs market, by products type in 2016.
Further, the market is segmented based on distribution channel such as Pharmacies/Drug Stores, Supermarkets/Hypermarkets, Convenience Stores, and Others (online drugstores). Among these, Pharmacies/Drug Stores segment commands the largest market share in Germany Over the Counter (OTC) drugs market, by distribution channel in 2016.
The major players in Germany Over the Counter (OTC) drugs market include Bayer AG (Germany), Johnson & Johnson (U.S.), Almirall S.A. (Spain), GlaxoSmithKline Plc (U.K.), Boehringer Ingelheim GmbH (Germany), PharmaFGP GmbH (Germany), OTC-Pharma Vertrich Gmbh (Germany), Novartis AG (Switzerland), Pfizer AG (Switzerland), and Sanofi S.A. (France).
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