The European OTC drug market is anticipated to grow at a CAGR of 5.9% during the forecast period (2019-2025). With the increasing healthcare cost, the demand for better accessibility healthcare services at affordable prices increases. Self-medication plays an important role in reducing healthcare costs. The increasing use of OTC drugs in the region is linked with cost benefits, which in turn, is driving the growth of the European OTC drug market.

The European OTC drugs market is segmented based on product type and distribution channels. Based on the product type, the market is sub-segmented into the analgesics & pain relievers; cough, cold & flu products; vitamin & mineral supplements; ophthalmic products; and others. Vitamin & mineral supplements segment is estimated to exhibit a considerable growth rate during the forecast period owing to the increasing awareness among the general population regarding health.

Based on the distribution channel, the market is bifurcated into retail & supermarkets, and online platform. The online distribution channel is estimated to grow at a significant rate during the forecast period owing to the growing e-commerce industry coupled with increasing internet penetration. Further, the report covers the country-level analysis of the UK, Germany, Italy, Spain, France, and the Rest of Europe. Germany is estimated to contribute a significant share in the market. Common OTC drugs available in Germany include Aspirin, Ibuprofen, Dorithricin, Voltaren Gel, and Others

Moreover, the study of the report covers the analysis of various players operating in the market. The European OTC drug market is competitive in nature with the presence of a large number of well-established players in the region. Some of the key players covered in the report include AstraZeneca Plc, Bayer AG, Novartis International AG, Sanofi SA, Perrigo Co. Plc., and others. The players working in the generic medicine industry are making efforts to increase their market share by bringing new OTC drugs into the market.

For instance, in July 2020, Novartis to help patients in low-income and lower-middle-income countries access affordable medicines for the treatment of symptoms of COVID-19 has launched a portfolio that includes 15 generic and OTC medicines from its Sandoz division for gastrointestinal illness, acute respiratory symptoms, pneumonia as well as septic shock. The medicines will be made available to governments, Non-Governmental Organizations (NGOs), and other institutional customers in up to 79 eligible countries at zero-profit to support financially-strained healthcare systems.

Research Methodology

The market study of the European OTC drugs market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the drug manufacturers, pharmaceutical excipient manufacturers, API manufacturers, industry associates & experts, pharmaceutical companies, pharmacies, government organizations, regulatory bodies, research institutes, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. European OTC Drugs Market Research and Analysis by Product Type
2. European OTC Drugs Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the European OTC drugs market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European OTC drugs market.
• Insights about market determinants which are stimulating the European OTC drugs market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.