Over-the-Counter Drug Market

OTC DRUG MARKET ANALYSIS
Over the Counter Drugs Market – Global Competitive Analysis
Over-the-counter drugs, also known as over-the-counter drugs, are available at pharmacies and other retail stores and can be used without being prescribed by a doctor. These drugs are essential components of the pharmaceutical industry because they are very potent and have the ability to show effective results for simple illnesses. The number of competitors diving into the vast pool of the pharmaceutical industry is increasing day by day, making the industry a promising business that new entrants can capitalize on. This review will help to conduct a competitive analysis of developments such as strategic alliances, mergers and acquisitions, joint ventures as well as research and innovation leading to product development as it relates to the over-the-counter drug market. According to the Consumer Healthcare Products Association, total sales of over-the-counter drugs in the United States amounted to US $ 34,327 million in 2017.

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Competitive Analysis – The top 10 players operating in the global OTC Drugs Market include:
• Pfizer, Inc.,
• Novartis SA
• GlaxoSmithKline Plc.
• Bayer SA
• Sanofi
• Glenmark Pharmaceuticals
• Merck KGaA
• Teva Pharmaceuticals
• Johnson & Johnson Services, Inc.
• Boehringer Ingelheim
1. Pfizer, Inc. – Pfizer, Inc. is a global manufacturer and distributor of over-the-counter drugs, managing its business operations through two major business segments, namely Pfizer Innovative Health and Pfizer Essential Health. OTC drugs represent a significant portion of revenue generated by the Innovative Health segment, comprising annual revenue of US $ 29,197 million in 2016. The company’s OTC drug portfolio includes more than 40 products, while the OTC drugs portfolio includes more than 40 products. Major OTC brands that have generated significant revenue for Pfizer include Advil (ibuprofen capsules for migraine) and Centrum (multivitamin tablets), in 2016. Additionally, the company collaborated to license Nexium’s OTC rights under of the exclusive agreement with AstraZeneca Plc. made in 2012, Pfizer paid US $ 93 million to AstraZeneca in April 2016 as milestone payments accrued in accordance with the standards of the agreement. Pfizer, Inc. adopts strategies such as partnerships and collaborations with companies, and introduces new proprietary drug delivery technologies as well as unique ingredients of over-the-counter drugs to maintain a competitive advantage in the global market for drugs. over-the-counter medications.
2. Novartis AG – Novartis AG, is widely known for its research, development, manufacture and marketing of health products around the world. Novartis operates its drugs business through two main operating channels; Innovative medicine and drugs. Sandoz, which is a subsidiary of Novartis, has played an important role in positioning the company as a major player in the global over-the-counter drug market. In March 2015, Novartis OTC and GlaxoSmithKline Plc. has established a combined consumer healthcare business named GlaxoSmithKline Consumer Healthcare Holdings Ltd. as a completely new entity, in which Novartis has a 36.5% stake in the investment and the profit shares. The pre-tax profit resulting from this alliance was estimated at US $ 5.9 billion in 2016. The company also markets and manufactures its products through Sandoz. Sandoz specializes in over-the-counter allergy and pain relief medicines and is available at pharmacies around the world. The channel focuses on business expansion and distribution in the Central and Eastern European region, including Germany.
3. GlaxoSmithKline Plc. – GlaxoSmithKline, a leading player in the pharmaceutical industry and over the counter drugs market, is a global science-based company based in Europe that develops and manufactures pharmaceuticals including vaccines, related consumer products health and over-the-counter medications. GlaxoSmithKline’s consumer healthcare business is operated through its subsidiary, GlaxoSmithKline Consumer Healthcare Holdings Ltd. The subsidiary is divided into two equal businesses, namely over the counter medicines and fast consumer goods (FMCG), in four main categories of oral health. , Well-being, Skin health and Nutrition. The company’s consumer health business segment recorded annual sales of US $ 5,023 million in 2016, of which Europe contributed a significant share of around 30.4% and the United States for 24.4%. The company adopts business expansion strategies and develops products that meet growing consumer demand for the over-the-counter drug industry. The company also offers its services such as educating users on how to prevent unwanted side effects of these drugs when consumed inappropriately, among others. The company is also focused on providing products at a sustainable price to increase customer adoption and enable access to multiple patients around the world.
4. Bayer AG – Bayer AG is a global life sciences company active in areas such as health and agriculture. The company operates in four main segments, namely pharmaceuticals, consumer health, crop science and animal health. Over-the-counter drugs represent a significant portion of the consumer healthcare segment’s revenue, which was approximately US $ 7,179.19 million in 2016. The company caters to the over-the-counter drug market through its consumer health segment. The segment includes leading drugs and over-the-counter products in the dermatology, gastrointestinal, pain reliever, colds, allergy and sinus, and sun protection categories. The consumer healthcare segment responds to the challenges of the public healthcare system, especially non-prescription (OTC) products, by providing consumers with their corresponding self-care solutions which are readily available in pharmacies and online pharmacies. The main brands leading organic growth of the segment of the company include Aspirin, Aleve, Canesten, Dr. Scholls, Coppertone, Elevit, Bepanthen, Alka-Seltzer and Berocca. The company is investing in geographic expansion to strengthen its presence in the United States, Brazil, Russia and China through marketing innovations and new digital offerings. For example, the company introduced a number of new product line extensions in the United States of its existing brands, including ClariSpray in April 2016, as well as the addition of Alka-Seltzer Plus as an on-sale drug. free for the treatment of colds. The successful strategic implementation and new product development by the company are expected to significantly affect the growth of the global over-the-counter drugs market.
5. Sanofi – Sanofi is a global life sciences company based in France (Europe) which aims to improve people’s access to healthcare. The company operates through two main segments; pharmaceuticals and vaccines. The company operates its over-the-counter business through its Consumer Healthcare (CHC) segment. Sanofi is focusing on partnerships and acquisitions to develop its consumer healthcare business. For example, Sanofi completed the acquisition of the CHC business from Boehringer Ingelheim in 2017. In February 2017, Sanofi sold 5 of its over-the-counter drugs to Ipsen SA to end its asset swap with Boehringer Ingelheim GmbH. Ipsen SA was entitled to a payment of US $ 98.70 million to repurchase the transaction from Sanofi. The company’s total consumer healthcare segment revenue was valued at US $ 4,141.31 million in 2016. The company recorded good performance and growing sales in developing regions such as New Zealand and Australia. The main brands in the company’s OTC segment include Allegra, Doliprane, Essentiale, Nasacort, Maalox, Dorflex and Lactacyd
The global over-the-counter drugs market is highly competitive due to the growing adoption of personal healthcare and self-medication due to the growing awareness of the population about health precautions and basic drug knowledge. Under these conditions, competitors are under pressure to perform in terms of price. Market players are therefore focused on developing over-the-counter drugs in a cost-effective manner that will help respond to price-sensitive customers, in turn, to significantly maintain and subsequently increase profit margins, by especially in emerging economies.

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