United Kingdom Over The Counter (OTC) Drugs Markets, Competition Forecast & Opportunities, 2027: Generics, Investments and Expenses & Expanding Pharmaceutical Industry Promises Market Growth

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Apr 04, 2023, 06:30 ET

DUBLIN, April 4, 2023 /PRNewswire/ -- The "United Kingdom Over The Counter (OTC) Drugs Market, By Product, By Route of Administration, By Dosage Form, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

United Kingdom over-the-counter (OTC) drugs market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027.

The market growth can be attributed to surging demands for cold & flu medicines. Higher prices of branded drugs along with the growing prevalence of infectious diseases further drive the growth of the United Kingdom over the country (OTC) drugs market in the upcoming five years.

Consistent research and advancement of the pharmaceutical industry coupled with the local manufacturing of generic drugs also supports the growth of the United Kingdom over-the-counter (OTC) drugs market in the next five years.

Over-the-counter, (OTC) drugs are non-prescription-based medicines that are usually sold without any legal prescription and are often with no side effects. These drugs are safe and do not have any addictive nature if consumed un-monitored or without a physician's prescription.

Although, as a general awareness physicians often advise to consult doctors and experts regarding illness before self-prescribing any kind of medicine. Basic cold medicines, vitamin tablets, or health supplements are different categories of over-the-counter (OTC) drugs.

Expanding Pharmaceutical Industry Promises Market Growth

A surge in the demand for advanced medicine at affordable prices drives the growth of the United Kingdom over-the-counter (OTC) drugs market in the upcoming five years.

In 2019, the annual turnover of pharmaceutical goods wholesalers in the UK was over USD63 billion. The pharmaceutical industry holds a position among the top 10 global industries for pharmaceutical products that accounts for over 2.5% of the global market. Imports of pharmaceutical products from other countries have considerably decreased in 2020 valued at USD20,871 million from USD23,458 million in the year 2019.

Decreased imports point to increased research and development along with the growing inclination of consumers toward over-the-counter (OTC) drugs, thereby substantially supporting the growth of the United Kingdom over-the-counter (OTC) drugs market in the next five years.

Investments and Expenses Drives Market

Growing investments and rising expenses over the pharmaceutical products and therapeutics in the country further support the growth of the United Kingdom over-the-counter (OTC) drugs market in the future five years.

The government is actively investing in the pharmaceutical industry to promote local manufacturers along with rising expenditures by the consumers demanding advanced & affordable pharmaceutical products, thereby aiding the growth of the United Kingdom over-the-counter (OTC) drugs market in the forecast years.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in United Kingdom over the counter (OTC) drugs market.

GlaxoSmithKline Plc.
Novartis UK Limited
Sun Pharmaceuticals UK Limited
Johnson & Johnson Limited
Perrigo Company Plc.
Reckitt Benckiser Plc.
AstraZeneca Plc.

Report Scope:

United Kingdom Over The Counter (OTC) Drugs Market, By Product:

Cough, Cold, and Flu
Vitamins, Mineral, and Supplements (VMS)
Analgesics
Gastrointestinal Products
Dermatology Products
Others

United Kingdom Over The Counter (OTC) Drugs Market, By Route of Administration:

Oral
Topical
Parenteral

United Kingdom Over The Counter (OTC) Drugs Market, By Dosage Form:

Tablets
Capsules
Liquids & Solution
Creams/ Lotions/ Ointments
Others

United Kingdom Over The Counter (OTC) Drugs Market, By Distribution Channel:

Retail Pharmacy
Hospital Pharmacy
E-Pharmacy

United Kingdom Over The Counter (OTC) Drugs Market, By Region:

London
East Anglia
Southwest
Southeast
Scotland
East Midlands
Yorkshire & Humberside

For more information about this report visit https://www.researchandmarkets.com/r/265ri2

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