A A Study on OTC products in India and Europe : Market Prospective
Abstract
India has a growing market for pharmaceutical over-the-counter medications, which indicates that the pharmaceutical industry in this nation is expanding rapidly. In the past ten years, the Indian pharmaceutical business has experienced a significant change in marketing tactics. Companies actively publicize their over-the-counter products to promote them. In contrast to Europeans who rely on their local chemist to treat small ailments, North Americans place a greater emphasis on seeking medical guidance for treating minor ailments. Only ongoing public education with a broad perspective on the good health and wellbeing of society may raise awareness of rational drug use. Compared to other consumer commodities, OTC medications have significant brand loyalty. But going forward, it is also expected that merchants with strong sales capacities will be able to boost the market presence of their own private-label goods. The government and several pharmaceutical firms are undertaking a number of programmes to raise awareness about various medications and shift Rx to OTC.
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3. India OTC Market Size & Share Analysis - Industry Research Report - Growth Trends. [cited 2023Apr18]. Available from: https://www.mordorintelligence.com/industry-reports/India-otc-drugs-market.
4. India Over the counter (OTC) drugs market size, share 2023-2028 [Internet]. India Over the counter Drugs Market Size, Share 2023-2028. [cited 2023Apr18]. Available from: https://www.imarcgroup.com/India-over-the-counter-drugs-market.
5. Nicholas Hall Group of Companies. [cited 2023Apr16]. Available from: https://nicholashall.com/reports.
6. OTC Pharmaceuticals - India | statista market forecast [Internet]. [cited 2023Apr18]. Available from: https://www.statista.com/outlook/cmo/otc-Pharmaceuticals/India.
7. OTC Pharmaceuticals - Europe: Statista market forecast [Internet]. Statista. [cited 2023Apr18]. Available from: https://www.statista.com/outlook/cmo/otc-Pharmaceuticals/europe.
8. Johnson & Johnson 2021 Annual Report - Investors [Internet]. [cited 2023Apr16]. Available from: https://www.investor.jnj.com/annual-meeting-materials/2021-annual-report.
9. Europe OTC Drugs Market Size & Share Analysis - Industry Research Report - Growth Trends. [cited 2023Apr18]. Available from: https://www.mordorintelligence.com/industry-reports/europe-over-the-counter-otc-drugs-market-industry.
10. Lynch SS. Overview of over-the-counter drugs - drugs [Internet]. MSD Manuals; 2023 [cited 2023 May 11]. Available from: https://www.msdmanuals.com/en-in/home/drugs/over-the-counter-drugs/overview-of-over-the-counter-drugs#:~:text=At%20one%20time%2C%20most%20drugs,products%20without%20notification%20to%20users.
11. Over-the-counter drug [Internet]. Wikipedia. Wikimedia Foundation; 2023 [cited 2023Apr18]. Available from: https://en.wikipedia.org/wiki/Over-the-counter_drug.
12. Europe organ preservation market share, size, growth, opportunity and forecast 2023-2028 [Internet]. [cited 2023 May 22]. Available from: https://www.imarcgroup.com/europe-organ-preservation-market.
13. Lauder SP. Successfully making the RX-to-OTC switch [Internet]. PM360. 2020 [cited 2023Apr18]. Available from: https://www.pm360online.com/successfully-making-the-rx-to-otc-switch/.
14. OTC Growth in Europe: - Market trends and evolution - How the market will develop [Internet]. Bachi.be. [cited 2023 Apr 16]. Available from: https://www.bachi.be/docs/events/OTC%20growth%20in%20Europe%20(IQVIA).
15. Das S. OPPI OTC Task Force releases Shaping India's OTC policy 2018 [Internet]. Express Pharma. 2018 [cited 2023Apr18]. Available from: https://www.expresspharma.in/oppi-otc-task-force-releases-shaping-Indias-otc-policy-2018/.
16. Europe over the counter (OTC) drugs market report 2022: Increasing self-medication practices driving 5.4% annual growth - researchandmarkets.com [Internet]. 2022 [cited 2023 May 22]. Available from: https://www.businesswire.com/news/home/20220930005390/en/Europe-Over-the-counter-OTC-Drugs-Market-Report-2022-Increasing-Self-medication-Practices-Driving-5.4-Annual-Growth---ResearchAndMarkets.com.
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19. O. T. C. Market in India [Internet]. [cited 2023 May 22]. Available from: https://business.mapsofindia.com/fmcg/over-the-counter.html.
20. Harrington P. Analysis of the movement of prescription drugs to over-the-counter status.
Journal of Managed Care Pharmacy. 2002;8(6):499–508.
| Files | ||
| Issue | Vol 9 No 4 (2023) | |
| Section | Review Article(s) | |
| DOI | https://doi.org/10.18502/jppm.v9i4.14609 | |
| Keywords | ||
| Self – medication Drug Consultative Committee of India(DCC) Central Drug Standard Organization(CDSCO) Food Drug and Cosmetic Act (FD&C) Fast-moving consumer goods (FMCG) | ||
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How to Cite
1.
DHEERAJ K. A A Study on OTC products in India and Europe : Market Prospective. JPPM. 2023;9(4):18-27.
