New report: Over-the-Counter Pain Medication Market outlook for 2019 | Pfizer, Inc., Johnson & Johnson Services, Inc., Bayer AG, Sanofi S.A., GlaxoSmithKline plc

The OTC (over-the-counter) pain medication market surpassed US$ 18 billion in 2018, with growth influenced by changing perceptions on generic pharmaceutical drugs, according to a recent study published by Future Market Insights (FMI). The study opines that market revenue will rev up at an improved rate of 3.7% to exceed US$ 19.3 billion in 2019. FMI analyzes various aspects of market growth influencing the OTC pain medication market.

Many consumers are making a shift to generic drugs to reduce total spending on non-prescription or OTC pain medication. Various governing bodies, such as the United States Food and Drug Administration (FDA), have implemented stringent regulations and labeling rules to ensure the safety and effectiveness of OTC pain medications. Leading players in the OTC pain medication market are collaborating with generic drug-makers to capitalize on the trend of consumer inclination towards generic versions of branded OTC pain medications, finds FMI.

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The FMI study features valuable and actionable insights obtained through thorough research on OTC pain medication market. Some of the insights mentioned in the study are,

Growing geriatric population and prevalence of chronic pain-related disorders among the elderly population is bolstering sales of OTC pain medications.
Over 20% of the adult population of the world is already suffering from pain-related disorders and new cased of pain-related problems are reported by over 10% of the global population, which is increasing significantly every years. This is providing an impetus to growth of the OTC pain medication market.

Increasing awareness about the side effects of pain killers, such as stomach ulcers and gastrointestinal problems, may hamper the OTC pain medication market growth.

Developed countries will dominate the OTC pain medications market with more than half the revenue share of the market. However, developing countries in Southeast Asia will witness fastest growth in the OTC pain medication market with rapidly developing pharmaceuticals and healthcare sector in the region.

Acetaminophen Drugs Hold Majority Share in OTC Pain Medication Market

The FMI study thoroughly assesses growth of the OTC pain medication market based on various drug classes, such as Nonsteroidal anti-inflammatory drugs (NSAIDS), acetaminophen, and local anesthetics. The study finds that acetaminophens are among the most commonly purchased OTC pain medication, and this drug class holds 45% share in the revenues of OTC pain medication market. As acetaminophen is considered as a safer pain medication than other pain relievers, its demand will continue to remain high in the upcoming years, opines the FMI study.

The Consumer Healthcare Products Association (CHPA), an American trade association, recently published a study on the misuse of acetaminophen-based OTC combination products. The study found that a 28 percent decline was recorded in therapeutic misuse exposures involving acetaminophen-containing OTC combination products. The incidents of acetaminophen misuse decreased from 8,753 to 6,278 between 2007 and 2016, which is a substantial evidence for the safety and effectiveness of acetaminophen-containing OTC pain medications.

Thereby, the FMI study opines that the acetaminophen drugs will maintain a maximum share of over US$ 8.7 billion in the OTC pain medication market through 2019, and the trend will continue to persist in the coming future.

Governments take Initiatives to Spread Awareness about Safe Use of OTC Pain Medications

Despite the increasing reliance on OTC pain medications, a large consumer group is still skeptical about their effectiveness and positive impacts on health. In order to help consumers to avoid incorrect use of OTC pain medications, many governing bodies including FDA have developed guidelines and tips for patients for choosing appropriate OTC pain medications. Consumers are becoming conscious about the drug fact labeling (DFL) requirements and other regulations vis-à-vis OTC pain medications, which is influencing major dynamics of the OTC pain medication market, projects the FMI study.

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The study provides a futuristic overview of the OTC pain medication market with important information about growth prospects of the market during the forecast period 2018-2028. The study predicts that the OTC pain medication market will witness healthy growth at a healthy 4.5% value CAGR to reach US$ 13 billion by the end of the assessment period.

Over The Counter Pain Medication Market Reports - Table of Contents

1. Executive Summary

Market Overview

Market Analysis

Technology Roadmap

FMI Analysis and Recommendations

2. Market Introduction

Market Introduction

Market Taxonomy

Market Definition

Inclusions and Exclusions

3. Over-the-Counter Pain Medication Market Opportunity Analysis 

Macro-Economic Factors

Opportunity Analysis

4. Market Background

Market Dynamics

Drivers

Restraints

Key Trends

5. Global Economic Outlook

Gross Domestic Product by Region & Country, 2006 – 2021

6. Global Over-the-Counter Pain Medication Market Analysis 2013–2017 and Forecast 2018–2028, By Region

Introduction / Key Findings

Historical Market Size (US$ Mn) Trend Analysis by Region, 2013–2017 

North America

Latin America

Europe

South Asia

East Asia

Oceania

Middle East and Africa

Market Size (US$ Mn) Forecast By Region, 2018–2028

Market Attractiveness Analysis by Region

7. Global Over-the-Counter Pain Medication Market Analysis 2013–2017 and Forecast 2018–2028, By Drug Class

Introduction

Historical Market Size (US$ Mn) Trend Analysis by Drug Class, 2013–2017

Non-steroidal anti-inflammatory drugs (NSAIDs)

Local Anaesthetics

Acetaminophen

Market Size (US$ Mn) Forecast By Drug Class, 2018–2028

Market Attractiveness Analysis by Drug Class

8. Global Over-the-Counter Pain Medication Market Analysis 2013–2017 and Forecast 2018–2028, By Route of Administration

Introduction

Historical Market Size (US$ Mn) Trend Analysis by Route of Administration, 2013–2017

Oral

Tropical

Others

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