Increasing awareness regarding self-medication to boost the growth of Saudi Arab
Posted by rohan on August 22nd, 2018
The Saudi Arabia OTC drugs market has been estimated as 732.17 million in 2018 with a CAGR of 9.2%. The term ‘’over-the-counter’’ mentions to prescription drugs, which might be offered throughout the counter without physicians prescription. OTC drugs are safe if they may be administered consistent with the instructions provided by healthcare experts. But, nutritional supplements include dietary supplements, which might be used to offer vitamins to the body to satisfy the nutrient stability of the body.
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Growing assault of health insurance companies is to promote the market growth
Factors affecting market growth:
• Increasing awareness of self-medication (+)
• High disposable income (+)
• Growing assault of health insurance companies (+)
• Rising prevalence of digestion disorders (+)
• Intensifying healthcare expenditure (+)
• Deficient in research capabilities (-)
• Lack of specific product availability (-)
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Market Segmentation
The Global over-the-counter (OTC) drugs market is segmented on the basis of
Product Type
• Analgesics
• Cough, Cold and Flu Products
• Vitamins and Minerals
• Dermatological Products
• Gastrointestinal Products
• Ophthalmic Products
• Sleep Aid Products
• Weight Loss/Diet Products
• Others
By Formulation Type
• Tablets
• Liquids
• Ointments
• Sprays
Distribution Channels
• Pharmacies
• Supermarkets/Hypermarkets
• Convenience stores
• Others (Online Drug Stores)
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Key players:
Some of the leading companies dominating the market include GlaxoSmithKline Pharmaceuticals Ltd, Gulf Pharmaceutical Industries, Tabuk Pharmaceutical Manufacturing Co, Jamjoom Pharmaceuticals Co. Ltd., and Reckitt Benckiser Group plc.
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