Rx to OTC Switch Market

Category : Healthcare & Life Sciences Reports | Delivery Format : PDF,PPT | Publisher: Reports and Insights | Pages : 187

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Rx to OTC Switch Market Overview

The report is titled as ‘Rx to OTC Switch Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Rx to OTC Switch market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Rx to OTC Switch market is expected to grow with significant rate in the near future.

In 2020, global Rx to OTC Switch market was valued at US$ XXX Mn and expected to grow significantly at a CAGR of XXX % over the forecast period

Rx to OTC Switch Introduction

Rx-to-OTC switch is the transmission of tested prescription drugs to non-prescription, OTC status. It is a technically rigid and highly controlled process that enables consumers to have OTC admittance to a developing array of medicines. For a medicine to be accorded OTC status, it must have a comprehensive safety perimeter, be efficient, and bear comprehensible marking to ensure appropriate use. By virtue of Rx-to-OTC switches, the end-consumers can expediently purchase and employ a comprehensive scale of medicines and products without the need to schedule a meeting with the doctor. Since more and more prescription allergy medicines have shifted to OTC, there has been an evident transition toward these more affordable and convenient alternatives.

Notably, patients with allergies who consume OTCs have ramped up from 66 percent in 2009 to 75 percent in 2015. Owing to which, the global Rx-to-OTC switches market is projected to rise rapidly over the forthcoming years.

Rx to OTC Switch Market Segmentation

The global Rx to OTC Switch market is segmented on the basis of drug category, distribution channel, and region.

By Drug Category

Allergy and Respiratory

Fungal Infections & Other Infections

Overactive Bladder

Oral Contraceptives

Gastrointestinal Drugs

Hair Loss Treatments

Smoking Cessation

Analgesic, Inflammation and Pain Management

Others

By Distribution Channel

Retail Pharmacies

Hospital Pharmacies

Drug Stores

Online Pharmacies

By Region

               North America

               Latin America

               Europe

               Asia Pacific

               Middle East

               Africa

Rx to OTC Switch Market Key Players

Some of the key participating players in global Rx to OTC Switch market are:

GlaxoSmithKline plc.

Astrazeneca

Merck KGaA

Johnson & Johnson

Bayer AG

Sanofi

Boehringer Ingelheim Consumer Healthcare

Bausch and Lomb (A Subsidiary of Bausch Health)

Galderma SA

Alcon

Arbor Pharmaceuticals

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Rx to OTC Switch

Advantages of Rx to OTC Switch

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.


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