Volume : 2, Issue : 10, October - 2013

Indian Otc Drug Market: Opportunities and Challenges

Pran Gopal Saha

Abstract :

Over–the–counter medicines are those drugs for which no prescription is require from any healthcare professional. This can be purchase from any retail pharmacies or other retail outlets. These drugs are often used for treatment of minor ailments such as heartburn and pain relief, though there is a large possibility of adverse side effects and casualties. Indian OTC market is estimated to be worth $ 1,793 million with an annual growth rate of 23%. That’s why big giant FMCG companies like HUL, ITC etc. are also showing their interest to invest in the profitable OTC drugs market. The main reasons of speedy growth of the OTC drugs market are easing affordability, time shortage and competitive environment. The main challenges for slow growth of OTC drugs market is low penetration in rural areas, literacy rate and above all traditional home remedies