Jul 28, 2017
4 Key Insights from Fact.MR’s Forecast on Market for OTC Cough, Cold & Allergy Medicines
by Team Fact.MR
A large number of people across the globe purchase OTC (over-the-counter) medicines for treating minor cough, cold or allergy related problems rather visiting the doctor. This has been a major reason behind the incessant sales of OTC cough, cold and allergy drugs. Many of the medicines for cold, cough and allergy fall under common categories of OTC. In order to ensure customer safety, healthcare regulatory bodies in some countries have even set guidelines for selling or purchasing of such medicines. Moreover, the busy lifestyle of a modern consumer make such medicines more important as consulting a doctor for every single health issue might consume a hefty amount of time. Factors as such are playing a crucial role in further boosting the demand for OTC cough, cold and allergy medicines. In addition, growing number of immunosuppressed patients and expanding global geriatric population is anticipated to drive the growth of the market. Fact.MR’s recently published report reveals that the global OTC cough, cold and allergy medicine market is set to witness 4.9% between 2017 and 2022. This market is estimated to stand at around US$ 37,323 Mn towards the end of the forecast period.
Following insights from Fact.MR’s global OTC cough, cold and allergy market will be important for market’s future growth
- The OTC cough, cold and allergy medicines market in Asia Pacific excluding Japan (APEJ) is anticipated to remain highly attractive throughout the assessment period. In 2017 and beyond, the region is projected to command for a noteworthy revenue share of the global market. This is primarily owing to dropping air quality and increase pollution that is resulting in higher occurrence of respiratory ailments. In addition, rapid adoption of OTC medicines owing to their convenience of purchase and cost-efficiency is facilitating the growth of the market in the region.
- On the basis of drug type, antihistamine is anticipated to command for over one-third revenues share of the market by the end of 2017. Antihistamines drugs help in restricting the histamine release from histamine-1 receptors, moreover these drugs can effectively treat watery eyes or runny nose, inflammation (redness), sneezing and swelling (edema).
- By OCT channel, pharmacies will continue to be the top OCT channel for sales of allergy, cold and cough drugs between 2017 and 2022. During the same time, the drug store segment is projected to retain its second spot.
- Based on dosage, the tablet segment is projected to command for a significant share of the market in terms of revenue and is likely to reach a valuation of nearly US$ 12,425 Mn over 2022.
Fact.MR has profiled some of the key players in its report, which include Allergen, Bristol-Myers Squib Co., Prestige Brands Holdings, Inc., Pfizer Inc., GlaxoSmithKline Plc., Reckitt Benckiser Group Plc., AstraZaneca Plc., Johnson & Johnson Service, Inc., Procter & Gamble Co., Sanofi-Aventis, Novartis AG, Merck & Co., and Sun Pharmaceutical Industries Ltd. Many of these companies are concentrating on improving the product efficiency in order to increase their market presence.