The growing preference of manufacturers for over-the-counter medications over prescription drugs is expected to boost the worldwide OTC drugs industry. In 2019, Bayer AG, for example, stated that it intends to convert a number of its prescription-only self-care items to OTC.
Fortune Business InsightsTM published research titled "Over-the-counter Drugs Market, 2021-2028" that contains this information. According to the analysis, the market is expected to rise at a CAGR of 5.8% over the forecast period, from USD 157.0 billion in 2021 to USD 233.6 billion in 2028. In 2020, it was worth USD 148.0 billion.
Globally, the COVID-19 pandemic will drive growth in the consumer health segment.
Various companies' import and export activities have been impacted by the COVID-19 outbreak. However, a number of them, including GlaxoSmithKline Plc, Sanofi S.A., Johnson & Johnson Private Limited, and others, have stated that revenue in their consumer health or OTC business has increased. The demand for TYLENOL increased dramatically during the pandemic, according to research published by Johnson & Johnson Private Limited in 2020. Our research studies will assist you in determining the best plan for taking your company to the next level.
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