DUBLIN--(BUSINESS WIRE)--The "Global Over the Counter (OTC) Analgesics Market - Segmented by Type of Drug, Distribution Channel, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The OTC analgesics market is expected to witness a CAGR of 7.2% during the forecast period.
Increasing demand of topical analgesics, which are available as pain-relieving creams, lotions, rubs, gels, and sprays, has increased the sales of analgesics by 18 percent. According to Kline Nonprescription Drugs US report, increasing geriatric population worldwide, will generate the demand for pain relief products. According to the US Census Bureau, between 2012 and 2050, the United States will experience considerable growth in its older population. Thus, the growth in geriatric population is driving the growth of the global OTC analgesics market.
Additionally, the cost efficiency of OTC analgesics drugs is also responsible for fuelling the growth of the market.
The common side-effects from the continued usage of OTC analgesics include, constipation, drowsiness, dizziness, stomach-ache, heart attack, or stroke. These drugs can cause serious changes in the brain and body. Long-term usage of painkillers increases the addiction and dependency on the drugs. In the United States, painkillers are the second most abused substances, after Marijuana. As a result of such incidents of drug overdose, there is an uncertainty regarding the increasing stringency on OTC analgesics, thus, restraining the market.
Additionally, drug abuse is restraining the growth of OTC analgesics market.
Key Developments in the Market
- January 2018 - New chronic pain relief Venodol roll is a non-opioid, non-additive OTC alternative to opioid, and Steroidal Analgesics. It is launched by Spotlight Innovation, a pharmaceutical company, which is a subsidiary of Caretta Therapeutics in 2017.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Major Players
- Boehringer Ingelheim
- Johnson & Johnson
- Novartis AG
- Pfizer Inc.
- Reckitt Benckiser Group Plc.
- Sun Pharma
- Takeda Pharma
10. Future Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/8d5fk4/global_over_the?w=4