Turkey Over-The-Counter Drugs Market is Dominated by Cough & Cold Drugs and Analgesics Drugs Through 2028
Increasing population and
self-medication are the factors driving the growth of the Turkey Over-The-Counter
Drugs market in the forecast period 2024-2028.
According to the TechSci
Research report, “Turkey Over-The-Counter Drugs
Market - By Region, Competition, Forecast, and Opportunities, 2028F”,
Turkey Over-The-Counter
Drugs Market is projected to increase at an impressive rate in the forecast
period, 2024-2028. The factors responsible for the growth of the market are the
increased senior population, which is more prone to colds and coughs. Furthermore,
higher car pollution, and increased R&D activities all contribute to the
market's high demand for over-the-counter (OTC) medications. Turkey’s over the
counter (OTC) medications are anticipated to rise because of an increase in
cough and cold cases, the creation of complex goods, and the acceptance of
effective therapies. Factors such as seasonal changes, environmental factors,
and viral infections can contribute to an increase in cough and cold cases. Furthermore,
if the trend continues, it is possible that consumers will seek out OTC drugs
to relieve their symptoms without the need for a prescription. As a result,
companies that produce and distribute OTC drugs may see an increase in sales
and revenue.
However, factors hampering
the overall growth of the Over-The-Counter Drugs market are improper diagnosis,
and overdose of medication due to low knowledge. Moreover, stringent government regulations by the government
of turkey’s authorities and low understanding among individuals, regarding
pharmaceutical ingredients, are expected to restrict the market growth
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data Figures spread through 70 Pages and an in-depth TOC on the "Turkey Over-The-Counter Drugs Market.”
Turkey Over-The-Counter
Drugs Market is segmented based on product type, route of drug administration, dosage
form, and distribution channel.
Based on product
type, the market is categorized into Cough & Cold Drugs, Analgesics Drugs,
Dermatology Drugs, Gastrointestinal Drugs, Vitamins, Minerals, and Supplements
(VMS), Ophthalmic Drugs, Others. The analgesic drug category is expected to
increase at a high CAGR in the turkey’s Over-The-Counter Drugs market as the use
of analgesics has been increasingly recognized as a major public health issue
with important consequences in Turkey which in turn is driving the growth of
the segment in the market.
Based on route administration,
the market is categorized into Oral, Parenteral, Topical, and Others. The oral
segment is expected to drive the growth of the market throughout the forecast
period, 2024-2028. Due to its benefits, including non-invasiveness, patient
compliance, and ease of medication delivery, it is the most favored method. The
oral route of administration is one of the most popular and convenient methods
for delivering medications to patients. It involves administering drugs through
the mouth, typically in the form of tablets, capsules, or liquids, and is often
preferred by patients due to its ease of use and non-invasive nature. The
convenience and popularity of the oral route of administration have contributed
to its continued growth and dominance in the pharmaceutical market. Oral
medications can be easily self-administered, reducing the need for healthcare
professionals and allowing patients to manage their conditions at home. This
can lead to improved patient adherence, better treatment outcomes, and reduced
healthcare costs. Additionally, advances in drug delivery technology have led
to the development of more sophisticated and targeted oral medications, such as
extended-release formulations and enteric-coated tablets. These formulations
allow for precise dosing and more consistent drug levels in the body, improving
efficacy and reducing side effects. Furthermore, approximately 60% of
established small-molecule drug products available, commercially, are
administered via the oral route which in turn is driving the growth of the
segment in the market throughout the forecast period. Overall, the oral route
of administration is expected to continue driving market growth due to its
convenience, popularity, and the ongoing development of innovative drug
delivery technologies.
Major companies
operating in the Turkey Over-The-Counter Drugs Market are:
·
Johnson
& Johnson
·
Bayer
AG
·
Novartis
AG
·
Sanofi
S.A.
·
Reckitt
Benckiser Group Plc.
·
The
Procter & Gamble Company
·
Teva
Pharmaceutical Industries Limited
·
Cipla
Ltd.
·
Novartis
·
Nobel
Ilac San ve Tic A.S.
·
Abdi
Ibrahim Ilac Sanayi ve Ticaret
·
GlaxoSmithKline
·
BERKO
ILAÇ
·
Bilim
Pharmaceuticals
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Based on distribution channels, the
market is categorized into Retail Pharmacies, Hospital Pharmacies, E-Pharmacies,
and Others. According to the distribution channel, the market sector of drug
stores and retail pharmacies held the largest market share in 2021. This is due
to the increase in retail pharmacies selling over-the-counter (OTC)
medications. The drug shops and retail pharmacies category is anticipated to
hold the largest market share over the projection period due to the increasing
number of retail pharmacies supplying over-the-counter drugs and the growing
patient demand for these products. In
addition, many retail pharmacies offer loyalty programs and discounts on OTC
drugs, which can be attractive to customers. Retail pharmacies also often have
extended hours, making it easier for customers to purchase OTC drugs when they
need them. Overall,
while there are other outlets for OTC drugs, such as online retailers and
convenience stores, retail pharmacies remain the dominant channel for Turkey OTC
drug sales,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
“Turkey Over-The-Counter
Drugs Market- By Product Type (Cough
& Cold Drugs, Analgesics Drugs, Dermatology Drugs, Gastrointestinal Drugs,
Vitamins, Minerals, and Supplements (VMS), Ophthalmic Drugs, Other) By Route of Drug Administration (Oral,
Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids &
Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail
Pharmacy, Hospital Pharmacy, E-Pharmacy), By Company and By
Region,
has evaluated the future growth potential of Turkey Over-The-Counter Drugs
Market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide innovative market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Turkey Over-The-Counter
Drugs Market.”
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