Indian OTC Analgesics size stood at around USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.
India has the 11th largest OTC Analgesics Market, continuously growing with the growth rate of XX%. Paracetamol is the commonly used OTC analgesic. Its analgesic property is analogous to that of aspirin and ibuprofen. It does not carry any anti-inflammatory effects. Paracetamol inhibits prostaglandin synthesis within the central nervous system. It is the first choice of analgesic for pain management. There is also the rapidly growing population, coupled with the fact that the middle class in India is expanding on a large scale, which may add critical mass to the population available to access OTC medication. The key factors propelling the growth of the Indian OTC Analgesics drugs market are the shift in consumer attitude toward self-medication, product innovations, and inclination of pharmaceutical companies toward OTC drugs from RX drugs.
Market Growth Drivers
The OTC analgesic market is increasing in demand because of topical analgesics, growth in the geriatric population, cost efficiency of OTC drugs, increasing the usage rate, and increasing use of off-label medications has led to easy pain management due to the availability of OTC analgesics. Major analgesic manufacturers and distributors are growing their product portfolio and geographical footprint to increase their stronghold in the global OTC analgesic market in the developed and developing markets. Owing to the rising geriatric population, affordability, and high accessibility of OTC analgesics, the market is expected to witness rapid growth over the forecast period.