Published : 3 years ago, on 21/07/2021

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 prescription drugs to nonprescription, over the counter status for
treating common diseases is a highly regulated and scientifically rigorous
process but it is widely gaining momentum as it reduces massive burden from the
healthcare facility.

For a medicine
to be granted OTC status, it must adhere to safety margin, bear understandable
labelling, and must be effective. These restrictions might hinder or slow down
the process of manufacturing and production in the future. However, wider
adoption of medicines and products have magnified the demand for Rx-to-OTC
products in the global market.

As per FMI, the
demand for allergy and respiratory drugs will remain high in the market. The
segment is also forecast to register 5.7% CAGR over the coming decade.
Antihistamines were the first drugs to receive Rx to OTC status and they have
the potential of treating various lifestyle diseases. This will remain one of
the chief drivers of the segment.

“Key players in the global market are investing in
product development to get faster approval from FDA and other equal chief
organizations. For instance, in June 2021, FDA approved Rx-to-OTC switch for
Astepro allergy nasal spray, which is expected to be available at mass retail
locations in the U.S.”, says a FMI analyst.

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Key Takeaways

• Retail
  pharmacies are expected to register a CAGR of 5.1% during the forecast period
  as they have improved the availability of OTC drugs for treatment of various
  common illnesses.
• Allergy
  and respiratory drugs have higher potential for growth during the forecast
  period. The segment is to register a CAGR of 5.7% during the forecast period.
• The
  U.S. holds 75% of share in the North America market. Presence of some of the
  leading companies will drive sales in the U.S.
• The
  U.K is expected to account for 33% of the Europe market through 2031.

Key Drivers

• Expansion
  strategies and investment by numerous pharmaceutical companies to attain
  approval will create lucrative opportunities, bolstering sales of Rx-to-OTC in
  global market.
• The
  outbreak of COVID-19 pandemic is expected to boost demand for OTC products as
  doctor visits have become restricted during these times.
• Rising
  investment in research and development activities for approval will create
  lucrative opportunities for the market.

Key Restrains

• Conservative
  approach, low chances of approval, and declined approvals for traditional OTC
  product types will hamper the demand in the Rx-to-OTC market during the
  forecast period.
• The
  global pandemic hindered manufacturing process and disrupted supply chain,
  hence slowing down the market growth.

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Competitive Landscape

The key players
operating in the global Rx-to-OTC are focusing on adopting strategic
collaboration to gain competitive edge. Besides this, they are engaging in
product launches and improving their distribution channels to penetrate in
regional markets.

For instance, Pfizer
Inc. in April 2021, acquired Amplyx Pharmaceuticals, Inc., a private
pharmaceutical company.

FDA in June
2021, approved Rx-to-OTC switch for Astepro allergy nasal spray and made it
available at mass retail locations in the U.S.

Key players
operating in the global Rx-to-OTC market as profiled by FMI are

• GlaxoSmithKline plc.
• Astrazeneca, Merck KGaA
• Johnson & Johnson
• Bayer AG
• Sanofi
• Boehringer Ingelheim Consumer Healthcare
• Bausch and Lomb (A Subsidiary of Bausch Health)
• Galderma SA
• Alcon
• Arbor Pharmaceuticals

More Insights on the Rx-to-OTC
Market:

FMI provides an
unbiased analysis of the Rx-to-OTC market, presenting historical demand data
(2016-2020) and forecast statistics for the period of 2021-2031. The study
divulges compelling insights on the global Rx-to-OTC market with a detailed
segmentation on the basis of

Drug Category

• Allergy and Respiratory
• Fungal Infections & Other Infections
• Overactive Bladder
• Oral Contraceptives
• Gastrointestinal Drugs
• Hair Loss Treatments
• Smoking Cessation
• Analgesic, Inflammation And Pain Management
• Others (Lice, Acne, Weight Loss, And Laxative)

Distribution Channel

• Retail Pharmacies
• Hospital Pharmacies
• Drug Stores
• Online Pharmacies

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA)

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Key
Questions Covered in the Rx-to-OTC Market Report 

• The report offers detailed insights into Rx-to-OTC demand outlook for 2021-2031

• The market study also highlights projected sales growth for Rx-to-OTC market between 2021 and 2031

• Rx-to-OTC market
  survey identifies key growth drivers, restraints, and other forces impacting
  prevailing trends, evaluation of current market size, and technological
  advancements within the industry

• Rx-to-OTC market
  share analysis of the key companies within the industry and coverage of
  strategies such as mergers & acquisitions, joint ventures, collaborations
  or partnerships, and others

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