As per latest industry analysis published by Fact.MR, the global OTC cough, cold, and allergy medicine market was valued at around US$ 35 Bn in 2020, and is expected to accelerate at a CAGR of over 5.5% through 2031. Demand for bronchodialators is set to increase at a CAGR of 5% across the assessment period of 2021 to 2031. Overall, the worldwide OTC cough, cold, and allergy medicine market is projected to expand 1.7X over the decade.
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Demand Analysis of OTC Cough, Cold, and Allergy Medicines from 2016 to 2020 Vs Market Outlook for 2021 to 2031
As per Fact.MR, a market research and competitive intelligence provider, the global market for OTC cough, cold, and allergy medicines was valued at US$ 35 Bn in 2020.
Rather than going to a doctor, a large number of people around the world buy OTC (over-the-counter) medicines to treat minor cough, cold, or allergy problems. This has been a major factor in the rising sales of OTC bronchodialators and OTC antibiotics.
Furthermore, a modern consumer’s busy lifestyle makes such medicines even more important, as consulting a doctor for every single health issue can take a long time. Growing percentage of immunocompromised people, rising demand for antihistamine drugs and OTC expectorants, and an increasing worldwide aging population are expected to drive demand for OTC medicines.
The number of pharmacies and over-the-counter (OTC) products available at stores is growing. Cough, cold, and allergy medicines are becoming more widely available as a result of these rising numbers.
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Key Segments in OTC Cough, Cold, and Allergy Medicine Industry Research
- Drug Type
- OTC Antihistamine
- OTC Expectorants
- OTC Bronchodialators
- OTC Antibiotics
- OTC Channel
- Sales of OTC Cough, Cold & Allergy Medicines via Pharmacies
- Drug Store Sales of OTC Cough, Cold & Allergy Medicines
- Modern Trade Sales of OTC Cough, Cold & Allergy Medicines
- Online Sales of OTC Cough, Cold & Allergy Medicines
- OTC Cough, Cold & Allergy Medicine Capsules
- OTC Cough, Cold & Allergy Medicine Liquid
- OTC Cough, Cold & Allergy Medicine Tablets
- OTC Cough, Cold & Allergy Medicine Lozenges
- OTC Liquid Cough, Cold & Allergy Solutions
- OTC Liquid Cough, Cold & Allergy Drops
- OTC Liquid Cough, Cold & Allergy Granules
- OTC Liquid Cough, Cold & Allergy Syrup
- OTC Liquid Cough, Cold & Allergy Pills
- OTC Cough, Cold & Allergy Medicines for Babies
- OTC Cough, Cold & Allergy Medicines for Adults
- OTC Cough, Cold & Allergy Medicines for School-age Children
The market is hugely competitive with a number of top OTC cough, cold, and allergy medicine manufacturers. Few major players currently dominate the market in terms of revenue share.
Personalized patient care and access to complete end-to-end medical device products and services are now available from healthcare service providers and top companies in the OTC cough, cold & allergy medicine market.
Mid-size and smaller businesses, on the other hand, are expanding their market presence by introducing new products at lower prices, thanks to technological advancements and product innovation.
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