Rx-to-OTC Switches Market 2021 | Current and Future Demand, Analysis, Growth and Forecast By 2031, Report
As per a study by FMI, the global sales of Rx-to-OTC market is expected surpass evaluation of US$58bn with a CAGR of 5.3% during the forecast period of 2021 and 2031. The market is estimated to reach US$35 bn in 2021, exhibiting a year on year growth rate of 5.2% during 2021. Sales rose at 1.5% CAGR between 2016 and 2020. According to a study by FMI, allergy and respiratory drug segment will dominate the global market, accounting for a share of 26.7% in 2021. Demand for improved access to a wide range of medicines over the counter (OTC) for treating common ailments such as cough, cold, flu, headaches, and others will continue aiding sales in the market. The shift from Rx-to-OTC is gaining momentum as OTC medicines are cost effective and deliver first line treatment for numerous common illnesses. This has resulted in reduced doctor visits, subsequently increasing opportunities for sales in the market. The transition of proven prescr...