(PharmaNewsWire.Com, July 11, 2017 ) The Saudi Arabia OTC Drugs Market has been estimated as 614 million in 2016 with a growing potential of 9.2%. Saudi Arabia OTC Drugs market accounts for XX% of total Middle East and Africa OTC market.
The term ‘’Over the counter’’ mentions to pharmaceuticals, which are bought across the counter without any need of physicians prescription. OTC drugs are used to treat and prevent minor disorders, as growing aging population there is an increasing push to be able to license OTC medicines for the use of treatment of chronic conditions.
Saudi Arabia OTC Drugs market expected to maintain strong growth drive owing to rapidly growing population coupled with strong inflow of emigrants into the country. Saudi Arabia OTC Drugs market is dominated by branded drugs of various international market leaders and these drugs are wholesaled under second brand name in association with local companies and distributors.
The Saudi Arabia OTC Drugs market is driven by factors such as increasing prevalence of seasonal diseases, increasing awareness of self-medication and the proper use of medications and strong brand reliability for multinational drugs in Saudi Arabia are factors expected to drive demand for OTC Drugs market over the forecast period. Moreover, increasing disposable income, healthcare spending, growing healthcare infrastructure and growing assault of health insurance companies in the Saudi Arabia is increasing growth of the OTC Drugs market in Saudi Arabia. However, deficient in research capabilities and lack of specific product availability in old-fashioned distribution channels and growing competition from other retail channels which leads to an insignificant decline in the overall value share of distribution channels are the major factor inhibiting the growth of the OTC drugs market in Saudi Arabia.
The Saudi Arabia OTC drugs market has been segmented by formulation type - tablets, liquids, ointments, sprays others. By product type – market has been segmented into cough and cold flu drugs, analgesics, dermatologics, gastrointestinal drugs, antiseptics, anti-allergy drugs, smoking cessation aids, vitamins and minerals, ophthalmics, sleep aids, weightloss/diet drugs and others (Ear Drops & Diuretics). By distribution channels market has been segmented into pharmacies/drug stores, supermarkets/hypermarkets, convenience stores, others (online drug stores).
Some of the key players dominating the OTC Drugs market in Saudi Arabia are GlaxoSmithKline Pharmaceuticals Ltd, Gulf Pharmaceutical Industries, Tabuk Pharmaceutical Manufacturing Co, Jamjoom Pharmaceuticals Co. Ltd., and Reckitt Benckiser Group plc.
About Us: Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
