New York, July 21, 2021 (GLOBE NEWSWIRE) — Reportlinker.com publicizes the discharge of the report “U.S. OTC Medicine Market – Trade Outlook & Forecast 2021-2026” – https://www.reportlinker.com/p06106156/?utm_source=GNW
U.S. OTC DRUGS MARKET: KEY HIGHLIGHTS
• In 2020, on-line pharmacies and hospital pharmacies segments accounted for probably the most vital U.S. OTC medicine market shares of 20.60% and 18.50%, respectively.
• Based mostly on indication, the an infection phase is anticipated to develop with the best incremental progress of USD 2.78 billion throughout the forecast interval.
• On-line retail giants like Amazon, which lately launched a non-public label line known as Fundamental Care, contribute to the US OTC medicine market development.
• Previously 30 years, the FDA has transformed greater than 700 prescription (Rx) merchandise to OTC standing.
U.S. OTC DRUGS MARKET INSIGHTS
With the rise in self-medication among the many US inhabitants, the demand for on-the-counter (OTC) medicine are considerably growing. COVID-19 outbreak has significantly influenced the gross sales of those medicine with the elevated deal with private well being. The enlargement within the variety of OTC medicines within the area by manufacturing corporations and switching prescriptions to OTC medicine extremely contributes to market progress. The demand for on-the-counter medicine has continuously been growing with the rise of personal labels, on-line gross sales, and the variety of OTC product launches within the upcoming years. Not too long ago, the gross sales of OTC medicines have been rising by means of on-line platforms, thereby benefitting non-public retailers.
MARKET SHARE & SEGMENTS
• There’s a large and highly effective array of OTC, supplemental, and natural preparations to deal with sufferers with higher and decrease GI issues accelerating the market’s progress within the US.
• The demand for chilly and cough OTC medicine has already been excessive, and the dietary dietary supplements are anticipated to have a better progress fee primarily because of COVID-19.
• The growing inhabitants and prevalence of digestive and cardiovascular issues accompanied by a sedentary life-style will improve demand for on-the-counter medicine.
• The web pharmacies distribution channel phase is anticipated to witness an incremental progress of USD 2.90 billion throughout the forecast interval.
• To strengthen the aggressive place, OTC corporations might contemplate buying manufacturers moderately than corporations.
• The arrival of COVID-19 led to an elevated dependence on on-line pharmacies for buying medicines fueling the demand for OTC medicines.
Segmentation by Product Sort
• Chilly & Cough
• Dietary Dietary supplements
Segmentation by Indication
• An infection
• Immune/Well being Booster
Segmentation by Distribution Channel
• Retail Pharmacies
• Hospital Pharmacies
• On-line Pharmacies
Main corporations are continuously consolidating their market place by means of strategic and high-profile mergers and acquisitions. Governments throughout the US are more likely to sponsor campaigns to reinforce well being schooling, growing self-medication. The OTC medicine market within the US is extremely aggressive and fragmented with the presence of varied gamers. Many main corporations have a broad portfolio of OTC merchandise that the most important distributors purchase to strengthen their market worth and emerge as the highest participant within the trade. Distributors are more and more creating new and simpler merchandise appropriate for self-medication to growth within the US OTC medicine market.
Key Firm Profiles
• Johnson & Johnson
• Bayer AG
• Teva Pharmaceutical Industries
Different Distinguished Distributors
• American Well being
• Aytu Shopper Well being
• Bausch Well being Corporations
• Colgate-Palmolive Firm
• Herbalife Diet
• Perrigo Firm
• Status Shopper Well being
• Procter & Gamble
• Reckitt Benckiser Group
• Solar Pharmaceutical Industries
• The Bountiful Firm
KEY QUESTIONS ANSWERED:
1. What’s the market measurement and forecast for the U.S. OTC medicine trade?
2. What are the completely different distribution channels for the OTC medicine?
3. Who’re the important thing gamers within the on-the-counter medicine trade?
4. Which is the main phase within the US OTC medicine market?
5. What’s the affect of COVID-19 on the U.S. OTC medicine market?
Learn the total report: https://www.reportlinker.com/p06106156/?utm_source=GNW
ReportLinker is an award-winning market analysis answer. Reportlinker finds and organizes the newest trade information so that you get all of the market analysis you want – immediately, in a single place.