Dublin, July 29, 2022 (GLOBE NEWSWIRE) — The “North America Over-the-Counter Drugs Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.
Ease of access and affordability of OTC drugs will propel the market growth in North America.
According to the Consumer Healthcare Products Association (CHPA), there are more than 80 types of over-the-counter medications in the United States, with up to 300,000 products marketed. Over-the-counter drugs are expected to save $102 billion in the United States each year, including $25 billion saved through their use and $77 billion through the avoidance of unnecessary hospital visits. In addition, self-medication is used to treat 70-90% of all illness episodes. Similarly, in the United States, people spend an average of $442 on OTC products every year.
Cough-and-cold medicines for children alone rose 564% in the spring of 2021, according to Catalina’s Customer Intelligence database, which scans billions of barcodes to extract three years of data on U.S. shoppers. According to the American Academy of Dermatology, acne is the most common skin condition in the United States, affecting approximately 50 million people each year. The growing prevalence of these diseases in the region is expected to propel the demand for over-the-counter drugs.
Growing developments by major market players will fuel the growth of over-the-counter drugs in the region.
In July 2019, Pfizer announced that Upjohn, its off-patent drug company, would merge with Mylan, a generic drug maker, to form a new pharmaceutical company with expected 2020 revenues of up to $20 billion. Upjohn and Mylan’s combined portfolio of prescription drugs, complex generics, over-the-counter drugs and biosimilars is expected to be sustainable, diverse and unique. A well-established infrastructure and supply chain, along with a strong management team, will help it succeed.
Additionally, in August 2020, Takeda Pharmaceutical disclosed that it had sold its over-the-counter drug business to Blackstone Group, a major US private equity firm, for around 250 billion yen. The divested portfolio included a range of over-the-counter medicines and healthcare products with total sales of approximately 60.0 billion yen in fiscal 2019. Alinamin, the company’s top-selling product and Japan’s first vitamin B1 preparation, and Benza, a cold remedy, were among Takeda’s strong regional brands.
The company believes that Alinamin Pharmaceuticals will be well positioned under Blackstone to continue to develop and improve its product portfolio in the years to come to meet changing customer needs. Additionally, in November 2020, Amazon Pharmacy, Amazon’s online and mobile prescription drug ordering and fulfillment service, opened after two years of its $753 million acquisition of the delivery business. PillPack prescription medication.
Following the launch of its over-the-counter drug line in 2019, this is arguably Amazon’s most comprehensive move into healthcare to date, which could open up significant new revenue opportunities. for the company, especially as the ongoing COVID-19 pandemic pushes shoppers toward more remote care and the use of online channels for all of their purchasing needs. These developments by key players in the region will fuel the OTC market.
Information on COVID-19
The COVID-19 pandemic has had a distinct effect on different over-the-counter products. The outbreak, for example, has increased awareness of the importance of self-care and spurred growth in categories such as vitamins and minerals and nutritional supplements.
Cough and cold medicines were in high demand in the area. In addition, sales of skincare items and stomach and intestinal cures declined. Pain relievers, known as analgesics, have been in high demand throughout the pandemic.
Main topics covered:
1.1. Market definition
1.2. Market segmentation
2. RESEARCH METHODOLOGY
2.1. Research data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
5. NORTH AMERICA OVER-THE-COUNTER DRUGS MARKET, BY PRODUCT TYPE
5.2. Cough, cold and flu products
5.4. Dermatology products
5.5. Gastrointestinal products
5.6. Oral health products
5.7. Weight loss/diet products
5.8. Ophthalmic products
5.9. sleep aids
6. NORTH AMERICA DRUG MARKET LIVE, BY DISTRIBUTION CHANNEL
6.3. On line
7. NORTH AMERICA ON SALE DRUG MARKET, BY COUNTRY
7.2. United States
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Key Players and Strategic Analysis
8.2. Emerging players and market profitability
8.3. Mergers, acquisitions, agreements and collaborations
8.4. Supplier Competitiveness Matrix
9. COMPANY PROFILES
- Johnson & Johnson Inc.
- Novartis AG
- Pfizer, Inc.
- GlaxoSmithKline PLC
- Bayer AG
- Perrigo Company Plc
- Takeda Pharmaceutical Company
- Reckitt Benckiser PLC Group
- Boehringer Ingelheim International GmbH
For more information on this report, visit https://www.researchandmarkets.com/r/hnf576
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