Introduction
Over-the-counter (OTC) drugs are medicines offered directly to a consumer with no prescription from a healthcare professional, as opposed to prescription drugs, which can be sold solely to customers possessing a legitimate prescription. In lots of countries, OTC medicine is selected by a regulatory agency to make sure that they comprise components which might be secure and efficient when used without a physician’s care. OTC drugs are often regulated following their active pharmaceutical ingredient (API) rather than ultimate products. By regulating APIs as an alternative of particular drug formulations, governments permit manufacturers the liberty to formulate components, or combinations of substances, into proprietary mixtures.
The term over-the-counter (OTC) refers to a medication that may be bought without a medical prescription. In distinction, prescription drugs require a prescription from a physician and will only be utilized by the prescribed individual. Some medicine could also be legally categorized as over-the-counter (i.e., no prescription is required), however, could only be distributed by a pharmacist after an evaluation of the affected person’s wants or the provision of patient education. In many countries, numerous OTC drugs can be found in establishments and not using a pharmacy, comparable to general stores, supermarkets, and gas stations. Regulations detailing the establishments where medication could also be bought, who are permitted to dispense them, and whether a prescription is required vary significantly from country to country.
Various OTC drugs
OTC drugs are medicines which are secure and effective to be used by most people without seeking treatment by a health professional. Common examples include pain relievers like acetaminophen (Tylenol) and ibuprofen (Advil, Motrin), cough suppressants resembling dextromethorphan (Robitussin) and antihistamines like loratadine (Claritin 24H). These medications are generally located on cabinets in pharmacies, grocery shops, and even in gas stations. OTC medicines deal with a range sign as a consequence of sickness together with ache, coughs and colds, diarrhea, heartburn,constipation, pimples, and others.
List of most popular OTC drugs and their uses:
- Advil– It is used to treat fever, inflammation or body pain, headache, menstrual cramps.
- Colace– It is used to treat occasional constipation and smoothen bowel movements.
- Claritin– It is used to treat runny nose, sneezing, skin rash, itching, watery eyes.
- Cepacol antibacterial– It helps in killing the germs that reduce plaque and bad breath.
- Rolaids– It treats issues like upset stomach, heartburn or indigestion. It lowers the acid formation.
- Tylenol– It is a pain reliever that helps in reducing fever, headache, arthritis, backache.
- Zantac– It is used in treating stomach ulcers and prevent them from coming back.
- Motrin IB– It helps reduce different kinds of pains such as muscle aches, arthritis, dental pain, headache.
Global market growth of over-the-counter drugs
The worldwide over-the-counter drugs market was valued at USD 303.51 billion in 2018, and it’s expected to be valued at USD 491.02 billion by 2024, witnessing a CAGR of 8.5%. The expansion propelling factors of this market are product improvements, excessive penetration within the rising market, favorable regulatory framework, and inclination of pharmaceutical firms towards OTC drugs from Rx drugs.
The worldwide over-the-counter (OTC) drugs market is more likely to report the very best growth rate in the rising markets of Latin America and Southeast Asia over the approaching years. This may be attributed to the quickly rising population, coupled with the growing middle class in these regions and enhance in disposable earnings of the population, which can add important mass to the population accessible to access OTC medication. Together with new channels of the accessibility in emerging markets in stores, supermarkets are additionally contributing to the growth of the OTC drugs market in the rising economies.
Key players in the OTC drugs industry
- GSK- GlaxoSmithKline
- Johnson & Johnson
- Bayer
- Abbott
- Amgen
- BioGaia
- Cipla
- Dr. Reddy’s Laboratories
Conclusion
Healthcare being the necessity of the hour, we can imagine pharmaceutical companies can leverage the self-sustaining FMCG advertising and marketing insights for tapping and penetrating the rural markets and for establishing belief for modern medicines. The present focus would require introducing their OTC product as essentially the most practical and important commodity rather than probably the most economical one. The adoption of some FMCG methods can probably facilitate the gradual changeover of the rural inhabitants from being non-consumers into extra health-conscious ones.
FAQs
1. What are over-the-counter drugs?
Over-the-counter (OTC) drugs are medicines offered directly to a consumer with no prescription from a healthcare professional, as opposed to prescription drugs, which can be sold solely to customers possessing a legitimate prescription.
2. Are OTC drugs safe to use?
Over-the-counter drugs or medicines still have a risk even though they don’t need to be prescribed.
3. Which are the most common OTC medicines?
Advil, Motrin, Zantac, Tylenol, Claritin etc. are some of the common OTC drugs in use.
4. Are OTC drugs in the FMCG list?
Yes. OTC is in the fast moving consumer goods (FMCG) list.
