Published on : May 31, 2016
ALBANY, New York, May 31, 2016: Over-the-counter (OTC) drugs are among the new inventions in the global healthcare market. OTC drugs are directly sold to consumers who possess a valid prescription. OTC drugs, in many nations, are overseen by a regulatory agency to assure that the ingredients used in the medicines are effective and safe. By regulating APIs, governments permit manufacturers to use certain ingredients or their combinations in drug formulations.
Over the past few years, the demand for OTC drugs has increased across the globe. Affordability, accessibility, trust, and empowerment are four attributes that symbolize the value that OTC drugs provide to consumers. The increasing number of families considering OTC drugs for their respective treatments is expected to benefit the healthcare and OTC market in the near future. The easy availability of medicines over the counter, without the need to present a prescription, helps people to avail the required medicines in quick time. Today, nearly seven in ten people opt for OTC drugs to treat a sudden medical condition. Further, with busy lifestyles, people prefer to buy medicines that are easily available. 24/7 access to OTC drugs is a boon for healthcare service providers as well as for busy families.
Changing trends in the modern lifestyle have made it necessary for consumers to add regular healthcare checkups in their routine. Currently, stress and tiredness are two of the common health concerns among most of the working people. People are making exercises a part of their routine, not just to look good or feel good, but also to live a healthy life. This is expected to create many growth opportunities for multifunctional sports nutritionists.
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Today, even though people are giving more preference to healthy food over medical pills, the consumption of food supplements is expected to be high in the long run. As food supplements offer health benefits, their demand is expected to increase steadily over a period of time.
The healthcare and OTC market is propelled by the health and wellness megatrend. Connected health, make-it-personal health care services, and simplified health care are some of the latest innovations in the healthcare industry. The healthcare and OTC market is expected to be benefited by the changing trends and new healthcare services that are being offered by leading players. Currently, healthcare companies, sports nutrition organizations, and pharmaceutical companies are focusing on the growing preference for natural healthcare solutions. As consumers aim to avail natural healthcare services and medicines, leading players are expected to introduce better healthcare products to match their needs.
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