Global OTC drug and dietary supplement to achieve 5-year 6% CAGR
Wellesley, Mass, March 15, 2017 (GLOBE NEWSWIRE) -- BCC Research has published an important analysis of the growth and opportunities in the global OTC drug and dietary supplement market.
In 2016, the global OTC drugs and dietary supplement market was estimated to be U$164 billion; with OTC drugs accounting for $109 billion and dietary supplements $56 billion. By 2021, the market will is expected to achieve US$220 billion, a CAGR of 6%. The growth of sales of OTC drugs will higher in developing markets than developed markets, indicating need, consumer acceptance, changing regulations and that the promotion of OTC products is well accepted in developing markets.
The changing face of the global OTC drug market is illustrated by trends in the eye care sector. In 2016, the market for eye care OTC drugs reached $10.3 billion with the US market alone being valued at US$3.1 billion on sales of dry eye-related treatments and eye vitamins. Eye vitamins will lead the growth in the eye care market for the US, Europe and other established markets around the globe. But expect change. By 2021, the eye care market will increasingly shift from the US to the Asia-Pacific region, the latter forecast to achieve a CAGR of 13.8% over 5 years.
“Health systems worldwide cannot cope with the demands of a growing and increasingly aged population. The self-care agenda is gathering pace globally as patients look to self-medication to treat a range of everyday ailments,” commented BCC Research Editorial Director Kevin Fitzgerald. “Rising demand, untapped market potential and effective products will see the consumer health market continue on its upward trajectory.”
BCC Research’s OTC Drugs and Dietary Supplements: Global Markets is a comprehensive market research report which presents expert analysis of the market trends, current value, 5-year growth potential, regulatory issues, market drivers and companies which are defining the global consumer health sector.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
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