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Rx-to-OTC Switches Market

2021 Analysis and Review: Rx-to-OTC Switches Market by Distribution Channel u2013 Hospital Pharmacies, Retail Pharmacies, Drug Stores, and Mail Order Pharmacies for 2021 u2013 2031<br>

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Rx-to-OTC Switches Market

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  1. Rx-to-OTC Switches Market July 2021 Report Id : REP-GB-9135 Published On : 2021-07-07 Category : Healthcare, Pharmaceuticals & Medical Devices www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights © 2019 Future Market Insights, All Rights Reserved www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights © 2019 Future Market Insights, All Rights Reserved

  2. About Future Market Insights Future Market Insights (FMI) is a premier provider of syndicated research reports, custom research reports, and consulting services. We deliver a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights,aerial view of the competitiveframework,and future markettrends. We provide research services at a global as well as regional level; key regions include GCC, ASEAN, and BRIC. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology,Healthcare, and Retail. We have a global presence with delivery centers across India specializing in providing global research reports and country research reports. FMI is headquartered out of London, U.K., with a state-of-the-art delivery center located in Pune, India. We combine our knowledge and learning from every corner of the world to distill it to one thing– the perfect solutionfor our client. Research Capabilities Sector Coverage ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ Customized Research Syndicated Research Investment Research Social Media Research Automotive and Transportation Electronics, Semiconductor, and ICT Retail and Consumer Products Industrial Automation and Equipment Chemicals & Materials Food and Beverages Services and Utilities Energy, Mining, Oil, and Gas Customized Research Subscription Information Syndicated Research For detailed subscription information please contact Hari. T (Sr. Manager - Global Business Development) Investment Research T: +44 (0) 20 7692 8790 | D: +44 20 3287 4268 Email: hari.t@futuremarketinsights.com Social Media Research www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 2 © 2019 Future Market Insights, All Rights Reserved

  3. Research Methodology (1/2) Systematic Research Approach 1 In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. Research & Intelligence Data Collection Data Filter & Analysis Actionable Insights Business Solution Market profiling 2 FMI formulates a detailed discussion guide to conduct expert and industry interviews ❑ ❑ ❑ ❑ Identifying key opinion leaders Questionnaire design In-depth interviews Coverage across value chain Formulating discussion guide 3 A FMI develops a list of industry players (manufacturers), distributors, retailers and industry experts Primary Research ❑ ❑ ❑ ❑ ❑ ❑ Key industry experts Channel study Developments Market dynamics Products Conclusions Developing list of respondents B FMI conducts interviews with industry experts, industry players, distributors and retailers 4 SOLUTION Desk Research Data collection ❑ ❑ ❑ ❑ ❑ Market participants Key strengths Product portfolio Mapping as per value chain Key focus segments C Data is validated by triangulation method, wherein secondary, primary and FMI analysis contribute to the final data Company Analysis 5 Data validation Data is scrutinized using MS-Excel to obtain qualitative and quantitative insights about the industry 6 Data analysis Primary Research# Secondary Research # Paid Publications# ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ Linkedin Zoominfo Salesforce Avention Company websites Company annual reports White papers Financial reports Factiva GBI Genios Meltwater FMI delivers industry insights and information in the required format (PDF) 7 Insights ❑ ❑ # includes sources of databases www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 3 © 2019 Future Market Insights, All Rights Reserved

  4. Rx-to-OTC Switches Market Analysis Rx-to-OTC switches refer to the transition from proven prescription drugs to non-prescription, OTC status. According to a report by Future Market Insights (FMI), the global Rx-to-OTC switches market was valued at US$ 33 Bn in 2020 and is predicted to expand at a CAGR of over 5% during the forecast period (2021– 2031). Scientifically, it is a rigorous and highly regulated process that allows consumers to purchase OTC access to a growing range of medicines. For a medicine to be granted under OTC status, it must comply with the regulatory standards associated with its efficacy, have a wide safety margin, and bolster labelling to ensure proper usage of the product. The increasing prevalence of diseases with common self-treatable symptoms, such as cold and flu, headaches, allergies, and others has fuelled the demand for OTC drugs. Thus, growing sales of non- prescription drugs have pushed pharmaceutical companies to focus on Rx to OTC switches to meet customer needs thereby gaining high revenue in the market. It was observed in 2020, Rx-to-OTC activity was driven by growing regulatory approvals and increased OTC sales. The COVID-19 outbreak has restricted patients to visit hospitals and clinics suffering from common illnesses. Consequently, delays in prescribed medication have shifted the customer preference towards the OTC drug consumption. As a result, the COVID 19 outbreak bolstered the demand for OTC products, which in turn has supported the adoption of Rx-to-OTC switches. www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 4 © 2019 Future Market Insights, All Rights Reserved

  5. Rx-to-OTC Switches Market Analysis The Food and Drug Administration (FDA) introduced the non-prescription safe use regulatory expansion (NSURE) panel in 2013 that has supported a new wave of Rx-to-OTC switches, with a focus on creating conditions for switches in new therapeutic classes. The introduction of the panel aimed to promote switches which had gained consumer attention, which in turn has aided the demand for the OTC drugs in the market. Key Takeaways from Rx-to-OTC Switches Market Study Allergy and respiratory drugs are anticipated to gain a revenue share of more than 25% with a CAGR of 5.7% owing to the rising prevalence of lifestyle-based ailments. • Retail pharmacies are anticipated to grow at a CAGR of 5.1% over the forecast period owing to the rise of e-commerce and the procurement of cost-effective medicines. • The U.K. holds the lead in Europe, holding a share of over 33% owing to the implementation of favourable government policies. • The U.S. will account for over 77% of the North America market by 2031, supported by a matured healthcare and pharmaceutical sector and favourable reimbursement policies. • China is the largest and fastest growing market in East Asia estimated to account for close to 49% of the global market, owing to the country’s large-scale pharmaceutical requirements. • www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 5 © 2019 Future Market Insights, All Rights Reserved

  6. Rx-to-OTC Switches Market Analysis “Increasing global prevalence of allergies and common illnesses such as flu, coupled with rising awareness for self-medication practices, are driving the growth of the global Rx-to-OTC switches market,” says the FMI analyst. Who is Winning? Rx to OTC switches have led the pharmaceutical companies to shift focus from patients to consumers in terms of end users. In addition to strategic collaborations, acquisitions, expansion, product launches, agreements and research sponsorships are the key strategies adopted by manufacturers to expand their research and development (R&D) capabilities increasing sales in wider geographical base to strengthen product portfolios in the Rx-to-OTC switches market. For instance, in January 2021, Boehringer Ingelheim entered into a collaborative agreement with Google Quantum AI (Google), focusing on researching and implementing cutting-edge use cases for quantum computing in pharmaceutical research and development (R&D). Any Queries, ask us @ https://www.futuremarketinsights.com/ask-question/rep-gb-9135 www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 6 © 2019 Future Market Insights, All Rights Reserved

  7. Rx-to-OTC Switches Market Analysis Want More Insights? Future Market Insights (FMI) brings the comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub- segments from 2016 to 2031. The global Rx-to-OTC Switches market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on Rx-to-OTC Switches market on basis of product type [allergy and respiratory, fungal infections & other infections, overactive bladder, oral contraceptives, gastrointestinal drugs, hair loss treatments, smoking cessation, analgesic, inflammation and pain management and others (lice, acne, weight loss, and laxative)]. Based on distribution channels [retail pharmacies, hospital pharmacies, drug stores and online pharmacies] across seven major regions. Visit For Report TOC @ https://www.futuremarketinsights.com/reports/rx-to-otc-switches-market/table- of-content www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 7 © 2019 Future Market Insights, All Rights Reserved

  8. Rx-to-OTC Switches Market Analysis Why Future Market Insights? • Comprehensive analysis on evolving purchase pattern across different geographies • Detailed insights of market segments and sub-segments for historical as well as forecast period • A competitive analysis of prominent players and emerging players • Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years • Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario Click here to Order a free sample www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 8 © 2019 Future Market Insights, All Rights Reserved

  9. To know more about us, please visit our website: www.futuremarketinsights.com For sales queries or new topics email us on: sales@futuremarketinsights.com For media queries, contact the press office at press@futuremarketinsights.com For other queries contact: Hari. T (Sr. Manager - Global Business Development) Future Market Insights: 3rd Floor, 207 Regent Street, London W1B 3HH T: +44 20 7692 8790 | D: +44 20 3287 4268 Email: hari.t@futuremarketinsights.com Future Market Insights Global & Consulting Private Limited (FMI) Thank You www.futuremarketinsights.com I @futuremarketins I /company/future-market-insights 9 © 2019 Future Market Insights, All Rights Reserved

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