Research and Markets: Rising tendencies towards self-treatment drives the Indian OTC drug market, finds Netscribes

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/p86vp3/otc_drug_market_in) has announced the addition of the "OTC Drug Market in India 2012" report to their offering.

Over-the-counter drug market in India ranks eleventh in the global OTC market and is expected to reach the ninth position within the next five years. Since Indian patients have a huge tendency for self treatment, the Indian market is characterized by a huge demand for OTC drugs. It is a highly fragmented market with a large number of foreign and domestic players. Rising consumer confidence in OTC products, increasing number of shifts from prescription to OTC drugs, increasing focus on brand building, booming retail growth and changing demographics is helping the market to grow.

The Indian Government, on its part has taken initiatives to reduce drug prices, has made certain reforms in the tax structure and has undertaken various other initiatives to promote the OTC market. The market is expected to exhibit steady growth over the next few years.

The report begins with the introduction section which offers a brief insight into the major over-the-counter segments. It then moves to the market overview section which provides an insight into the global market and then moves on to the Indian market, highlighting the market size and growth. The top ten OTC brands in both the Indian and the global market, along with the sales figures have been provided. The report also provides individual market sizes for the different segments of the OTC market.

An analysis of the drivers explains the factors for growth of the industry including rising consumer confidence in OTC products, increasing number of shifts from prescription to OTC drugs, booming retail growth, increasing focus on brand building, changing demographics and lower price control. The key challenges include low penetration in rural areas, preference of home remedies to OTC products, high competition and time consuming clinical trial procedures

Companies Mentioned

- Amrutanjan Healthcare Limited

- Cipla Limited

- Dr. Reddy's Laboratories Limited

- GlaxoSmithKline Consumer Healthcare Limited

- Lupin Limited

- Merck Limited

- Novartis India Limited

- Nutra Pharma Corporation

- Pfizer Limited

- Procter & Gamble Hygiene & Health Care Limited

- Ranbaxy Laboratories Limited