Expanding pharmaceutical industry drives the growth of the United Kingdom Over The Counter (OTC) Drugs Market, 2023-2027F.
According to TechSci report on, “United Kingdom Over The Counter (OTC) Drugs Market – By Region, Competition Forecast & Opportunities, 2027”, United Kingdom over the counter (OTC) drugs market may flourish with an impressive CAGR during the forecast period of 2023-2027, on the backbone of growing demands for affordable pharmaceutical products. Growing local market for the over the counter drugs along with the increasing number of local market players active in the industry and increasing sales for generic drugs further drives the growth of the United Kingdom over the counter (OTC) drugs market in the upcoming five years. Sedentary lifestyle, increasing instances of infectious diseases and growing cases of cold and flu mostly among the children population, also supports the growth of the United Kingdom over the counter (OTC) drugs market in the next five years. Moreover, growing prevalence of self-medication for the sedentary diseases, and lifestyle diseases are majorly responsible for the increasing demands for the over the counter (OTC) drugs and thus aiding the growth of the United Kingdom over the counter (OTC) drugs market in the future five years.
In the recent years, young and adult population have been concerned for the healthcare and their wellness thus, the rising concerns regarding their health, influences from the social norms for following beauty standards, urge for decreasing weight, have increased consumption for food supplements thus also substantiating to the growth of the United Kingdom over the counter (OTC) drugs market in the forecast years through 2027F. Recent pandemic conditions due to excessive COVID-19 instances, symptomatic drugs to control cold, cough and flu also facilitate the growth of the United Kingdom over the counter (OTC) drugs market in the forecast period.
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The United Kingdom over the counter (OTC) drugs market is segmented by product, route of administration, dosage form, distribution channel, competitional landscape, and regional distribution. Based on product, the market is further segmented into cough, cold and flu; vitamins, mineral, and supplements (VMS); analgesics; gastrointestinal products; dermatology products; and others. Cough, cold and flu segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of increasing tendencies of self-prescription among the population. Moreover, COVID-19 also plays a vital role in the upsurged demands for cough, cold and flu medicines, thereby supporting the growth of the United Kingdom over the counter (OTC) drugs market in the next five years. Growing concerns among the population regarding ill food habits, sedentary lifestyle, and increasing instances of obesity, diabetes, along with the demand for loosing weight is driving the growth for the vitamins, minerals, and supplements (VMS) segment in the future five years.
By route of administration, the market is fragmented into oral, topical, and parenteral. Oral route of administration may lead the market segment and hold the largest revenue shares of the market in the upcoming five years on the grounds of easier administration of the drugs. Based on dosage form, the market is differentiated into tablets, capsules, liquids & solution, creams/lotions/ointments, and others. Based on distribution channel, the market is bifurcated into retail pharmacy, hospital pharmacy, and e-pharmacy. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire & Humberside.
A partial list of major market players of the United Kingdom over the counter (OTC) drugs market includes :
· GlaxoSmithKline Plc.
· Novartis UK Limited
· Sun Pharmaceuticals UK Limited
· Johnson & Johnson Limited
· Perrigo Company Plc.
· Reckitt Benckiser Plc.
· AstraZeneca Plc.
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“Growing demand for the generic drugs and affordable medicine for various categorical diseases drive the growth of the market. Although National Healthcare Services (NHS) provides majority of the healthcare products and services for the consumers, private sector of the healthcare has been recently expanding rapidly and aiding the overall industrial growth in the recent years. Due to the lifestyle of the population, there has been a surge in the number of populations trying to self-medicate for lifestyle diseases like diabetes, obesity, and infectious diseases like anti-inflammatory diseases, bacterial infections etc. and thus aiding the growth of the United Kingdom over the counter (OTC) drugs market in the future five years. New market players may focus on the research and development along with product development with advanced technologies to support their brand establishment in the market players,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United Kingdom Over The Counter (OTC) Drugs Market By Product (Cough, Cold and Flu; Vitamins, Mineral, and Supplements (VMS); Analgesics; Gastrointestinal Products; Dermatology Products; Others), By Route of Administration (Oral, Topical, Parenteral), By Dosage Form (Tablets, Capsules, Liquids & Solution, Creams/Lotions/Ointments, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United Kingdom over the counter (OTC) drugs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United Kingdom over the counter (OTC) drugs market.
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