The global over-the-counter drugs market is highly competitive, owing to increasing adoption of personal healthcare and self-medication due to rising awareness among the people regarding health precautions and basic drug knowledge. Under such conditions, the competitors experience performance pressure in terms of pricing. Market players are thus focusing on development of OTC drugs in cost-effective way that will help to cater price-sensitive customers, in turn, significantly maintain and subsequently increase profit margins, especially in emerging economies.
The top 10 players operating in the global over-the-counter drugs market include:
Johnson & Johnson Services, Inc.
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Pfizer, Inc. – Pfizer, Inc. is a global leading manufacturer and distributor of over-the-counter drugs, managing its commercial operation through two major business segments namely, Pfizer Innovative Health and Pfizer Essential Health. OTC drugs contribute to a major part of Innovative Health Segment, comprising annual revenue of US$ 29,197 million in 2016.
Novartis AG – Novartis AG, is widely known for its research, development, manufacturing, and marketing of healthcare products across the globe. Novartis operates its drugs business through two major operating channels Innovative Medicine and Drugs manufactured by Sandoz which is a subsidiary of Novartis, has contributed to positioning the company as one of the top players in global Over-the-counter drugs market.
GlaxoSmithKline Plc – GlaxoSmithKline, one of the renowned giant in pharmaceutical industry and over-the-counter drugs market is a global science-led company headquartered in Europe, which develops and manufactures pharmaceutical products, including vaccines, health-related consumer products, and over-the-counter medicines. The consumer healthcare business of GlaxoSmithKline is operated through its subsidiary named GlaxoSmithKline Consumer Healthcare Holdings Ltd. the subsidiary is split into two equal businesses, namely Over-the-counter Medicines and Fast Moving Consumer Goods (FMCG), across four major categories of Oral Health, Wellness, Skin Health, and Nutrition.
Bayer AG – Bayer AG is a global life science company that has a history of over 150 years in areas of healthcare and agriculture. The company operates its business through four major segments namely, Pharmaceuticals, Consumer Health, Crop Science, and Animal Health. Over-the-counter drugs contribute to a major revenue share of the consumer health segment, which accounted for US$ 7,179.19 million in 2016.
Sanofi – Sanofi is a global life science company based in France (Europe) that is aimed towards improving healthcare access to people. The company operates its business through two major segments namely, Pharmaceuticals and Vaccines. The company operates its over-the-counter business as a part of a major business segment named Consumer Healthcare (CHC). Sanofi focuses on partnerships and acquisitions to expand its consumer healthcare business.
Following is the Impact Analysis of the strategies employed by the competitors and its impact on the revenues and sales in the global over-the-counter drugs market. Click To Read More On Over-the-Counter Drugs Market