(PharmaNewsWire.Com, March 18, 2017 ) According to the report Europe OTC Drugs Market, published by Market Data Forecast, the Europe market projected to reach USD 36.65 billion by 2021, at a CGSR of 6.83% from 2016 to 2021.
Over the counter (OTC) drugs are the effective and safe drugs, which can be bought at the local stores and pharmacies, without doctors prescription. Aspirin, acetaminophen, and ibuprofen are the most common OTC drugs in Europe.
Easy accessibility, customer-empowering qualities and convenience are the main pluses of OTC drugs. With the increasing number of chemists and pharma dispensaries, the drugs are readily available and at low costs.
In Europe, with the start of a pro-active approach towards the ailments, there is a cultural shift in people towards self-reliance. This is driving the OTC market with a wide expansion of consumer base. The issue of drug substance abuse and lack of awareness are the main constraint that is prevalent in the European market.
The Europe OTC Drugs Market is segmented as following: Based on Product Type Analgesics Cough, Cold and Flu Products Vitamins and Minerals Gastrointestinal Products Ophthalmic Products Sleep Aid Products Weight Loss/Diet Products Others Based on Formulation Type: Tablets Liquids Ointments Sprays Based on Distribution Channels: Pharmacies Supermarkets/Hypermarkets Convenience stores Others (Online Drug Stores)
The key players in Europe OTC Drugs Market are Novartis, Sanofi, Johnson and Johnson, GlaxoSmithKline, GSK Boehringer Ingelheim, Pfizer, Bayer, Takeda and PGT Healthcare. The maximum market share is possessed by Johnson and Johnson, Sanofi, Novartis and GlaxoSmithKline. The extension of OTC service for the drugs dealing with chronic diseases like hypertension and diabetes is a new trend to be noticed.
The Europe OTC Drugs Market study offers the following deliverables: Europe, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the Europe market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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