Mexico's over-the-counter (OTC) pharmaceuticals market size was valued at $2062.5 Mn in 2022 and is estimated to expand at a CAGR of 6.54% from 2022 to 2030 and will reach $3423.7 Mn in 2030. OTC are non-prescription medications and are a vital component of the healthcare system, offering consumers accessible solutions for a wide range of common health issues. The market is segmented by product type and distribution channel. The key market players are Johnson and Johnson Services Inc (USA), Bayer AG (Germany), Novartis AG (Switzerland) and others.
Mexico's over-the-counter (OTC) pharmaceuticals market size was valued at $2062.5 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.54% from 2022 to 2030 and will reach $3423.7 Mn in 2030. OTC refers to over-the-counter (OTC) tablets, which are non-prescription drugs that can be acquired without a prescription. These medications are safe when taken as prescribed by a healthcare professional. The market for these medications is expanding as a result of rising public awareness of general health issues as well as technological advancements in the pharmaceutical and healthcare sectors.
Additionally, a rising trend among people to use OTC medications for minor illnesses aids in the expansion of these medication market during the course of the projection period.
Market Growth Drivers Analysis
The number of elderly or senior citizens is significantly increasing. The World Health Organization (WHO) predicts that by 2050, there will be an additional 1.5 billion people who are 65 years of age or older. It is anticipated that the number will increase in developing nations including China, Japan, India, and South Korea. Health issues affecting the elderly population include cancer, diabetes, high blood pressure, and blood sugar levels. They must take better care of their health. As a result, patients need medications at specific intervals. Elderly folks occasionally purchase medications without a prescription. As a result, the forecasted rise of the OTC medicine market is being driven by the rising geriatric population.
The coronavirus outbreak has altered consumption patterns. The market for these medications has seen new growth potential as a result. People were unaware of the causes of the common cold and cough until around ten years ago. But following the pandemic, individuals have realized how important good health is. Many customers are aware of the medications that can be used to treat particular medical conditions. As a result, the market for OTC pharmaceuticals is expected to rise throughout the forecast period due to growing awareness of general health issues.
The over-the-counter (OTC) medications are over-the-counter (OTC) drugs. People who are uninformed about drugs and medications frequently take medications without first contacting a doctor or other healthcare provider. Consumer health may suffer as a result of this. The effects of this action may potentially put pharmacies and drug stores in danger. People have been known to pass away after taking the incorrect pills or medications on numerous occasions. These medications ought to be outlawed in order to prevent similar occurrences. As a result, during the projection period, the threat to human life will operate as a restraint on the expansion of the OTC medicine industry.
In some places, the sale of OTC medications is prohibited. To do this, a set of regulations and laws must be obeyed. These medications are not allowed to be sold due to regulations that the Food and Drug Administration (FDA) has put in place. The sale of these medicines is prohibited in a large number of developed nations. As a result, during the projection period, the OTC medicine market would face significant obstacles from the government's strict restrictions.
1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
6. Methodology and Scope
By Product Type
By Distribution Channel
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