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, Others), By Route of Drug Administration (Oral, Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail Phar
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTurkey Over-The-Counter Drugs Market- By Product Type (Cough & Cold Drugs, Analgesics Drugs, Dermatology Drugs, Gastrointestinal Drugs, Vitamins, Minerals, and Supplements (VMS), Ophthalmic Drugs, Others), By Route of Drug Administration (Oral, Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail Phar
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 384.87 million |
| CAGR (2023-2028) | 7.91% |
| Fastest Growing Segment | Vitamins & Mineral Supplements |
| Largest Market | Marmara Region |
TurkeyOver-The-Counter Drugs market is expected to grow at a significant rate duringthe forecast period. The high price of prescription medications has caused ashift toward over-the-counter (OTC) medications and increased OTC drugapproval, which is responsible for the expansion of the OTC drug market. OTCmedications are those that are sold directly to the customer without aprescription from a healthcare professional or a doctor. Regulatory bodies inmany nations choose over-the-counter (OTC) medications to ensure that theycontain ingredients that are safe and effective when used without a doctor'ssupervision. Instead of the finished product, the active pharmaceuticalingredient (API) in over-the-counter (OTC) medications is typically regulated.Instead of regulating individual drug dosage formulations, governments canfreely synthesize chemicals or constituent combinations into proprietary blends.In terms of distribution channels, pharmacies are the primary channel for OTCdrugs in Turkey, with chain pharmacies accounting for most sales. However,online sales of OTC drugs are also on the rise, with the COVID-19 pandemicaccelerating the shift towards e-commerce. Overall, the OTC drug market inTurkey is expected to continue growing, driven by factors such as an agingpopulation, increasing urbanization, and rising health awareness.
IncreasingDemand for Dietary Supplements
Therehas been an increasing demand for dietary supplements in Turkey in recentyears, reflecting a growing trend towards a healthier lifestyle and a greaterawareness of the benefits of preventive healthcare. This trend has been drivenby several factors, including the rise of the middle class, an agingpopulation, and a growing interest in sports and fitness. One of the maindrivers of this trend has been the increased availability and variety ofdietary supplements as OTT drug in Turkey. With the rise of e-commerce andonline marketplaces, it has become easier for consumers to access a wider rangeof supplements and to compare prices and features.
Inaddition, there has been a greater emphasis on health and wellness in the mediaand in advertising, which has raised awareness of the benefits of dietarysupplements. This has been coupled with an increased interest in healthy eatingand lifestyle choices, which has led to a greater demand for supplements tocomplement a healthy diet. The Turkish government has also played a role in promotingthe use of supplements, particularly those that address specific healthconditions. For example, the government has encouraged the use of supplementsto combat vitamin and mineral deficiencies, as well as to support the immunesystem and cardiovascular health. Overall, the increasing demand forsupplements in Turkey is part of a broader trend towards preventive healthcareand a greater focus on personal health and wellness which in turn has boostedthe growth of Turkey over the counter drug market.
StrongFocus on the Research and Development and Launch of New OTC Products by KeyPlayers
Inrecent years, Turkey has been focusing on developing its pharmaceuticalindustry, including the OTC sector. The Turkish government has implementedpolicies to promote innovation and R&D in the industry, including taxincentives and grants for companies investing in R&D activities. The OTCmarket in Turkey is quite large and has been growing steadily. There areseveral Turkish pharmaceutical companies that are actively engaged in R&Din the OTC sector. These companies include Abdi Ibrahim, Bilim Pharmaceuticals,and Eczacibasi-Monrol. These companies have invested heavily in R&Dactivities, including developing new products, and improving existing ones. Inaddition, there are also international pharmaceutical companies operating inTurkey that are involved in OTC R&D. These include Bayer, GlaxoSmithKline,and Pfizer. Overall, there is a strong focus on R&D in the OTC sector inTurkey, and this is likely to continue in the coming years as the governmentcontinues to support the development of the country's pharmaceutical industry.
Companieslike Johnson & Johnson Services Inc., Bayer AG, Novartis AG, Sanofi S.A.,Pfizer, and many others, are active in this industry. These major industryplayers are engaged in R&D to create and commercialize novelover-the-counter medications for a range of medical ailments. The risein self-medication during the predicted period is one of the major drivers ofmarket expansion. Pharmacoepidemiology and Drug Safety estimates that variouspeople rely on over-the-counter medicine, with females being more likely to doso. Additionally, the market is expanding because of consumers migrating fromprescription (Rx) to over the counter (OTC) medications due to lower costs andan increase in OTC medicine approvals from regulatory bodies. Therefore,the over-the-counter drug in turkey is gaining popularity which in turn drivesthe growth of the market.
Convenienceand Low Cost of OTC Drug is fuelling Market Expansion.
OTC(over-the-counter) drugs are medications that can be purchased without aprescription from a healthcare professional. These drugs are typically used totreat common health conditions like allergies, pain, and colds. The cost of OTCdrugs can vary depending on the brand, the store where they are purchased, andthe location. However, in general, OTC drugs tend to be less expensive thanprescription medications. One reason for the lower cost of OTC drugs is thatthey do not require a prescription or consultation with a healthcare provider.This means that the manufacturer can produce them at a lower cost and sell themat a lower price than prescription medications, which require extensive testingand regulatory approvals.
Additionally,OTC drugs are often available in generic versions, which are typically lessexpensive than brand-name versions. Generic drugs have the same activeingredients as their brand-name counterparts and are just as safe andeffective. Overall, the low cost of OTC drugs makes them an affordable andaccessible option for treating many common health conditions. Therefore, lowcost of over-the-counter drug is fuelling the market expansion.
Additionally,convenience and the existence of a sizable number of retail establishmentsselling OTC items are some of the crucial factors anticipated to propel marketexpansion throughout the forecast period. Market expansion is being fueled bythe private sector's growing investments in enhancing the supply chain throughretail stores and other distribution channels, in both developed and developingnations. The market is expanding because of regulatory agencies increasinglyapproving the conversion of prescription treatments to over-the-countermedications. There has been a noticeable trend in favour of these morepractical and affordable alternatives as the bulk of prescription allergymedications have transitioned to OTC. For instance, the Consumer HealthcareProducts Association (CHPA) reports that many prescription allergy medicationshave been converted to over-the-counter versions and that this dosage formationhas occurred due to the cheaper price of these medications.
ImproperDiagnosis and Self-Medication is Limiting Market Expansion.
Theissue of medication overdose due to improper diagnosis and self-medication is aserious concern that can have negative impacts on both the health ofindividuals and the growth of the medication market. people self-medicatewithout seeking professional medical advice, they may end up taking the wrongmedication or taking the medication in the wrong dosage, which can lead toadverse reactions, side effects, and even overdosing. This can damage thereputation of the medication and the brand, leading to a decrease in sales andconsumer confidence.
Furthermore,improper diagnosis and self-medication can also lead to the development ofantibiotic-resistant strains of bacteria and viruses, which can further hamperthe OTC drug market. Antibiotic-resistant bacteria and viruses are becomingincreasingly prevalent due to the overuse and misuse of antibiotics, and thishas led to the development of stronger antibiotics, which can be more expensiveand have more significant side effects. This factor limits the growth of theOTC drug market in Turkey. In conclusion, it is important to seek professionalmedical advice before taking any medication to avoid negative consequences,both for individual health and for the OTC drug market.
Market Segmentation
Turkey Over-The-Counter Drugs Market is segmented based on Product type, Dosage Form, Application, and Distribution Channel. Based on product type, the market is divided into Cough & Cold Drugs, Analgesics Drugs, Dermatology Drugs, Gastrointestinal Drugs, Vitamins, Minerals, and Supplements (VMS), Ophthalmic Drugs, Others. Based on dosage formo Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others. Based on application the market is divided into Cardiovascular Diseases, Diabetes, Oncology, Neurology, Anti-Inflammatory Diseases, Others. Based on distribution channel the market is categorized into Retail Pharmacies, Hospital Pharmacies, E-Pharmacies, Others.
Market players
Nobel Ilac San ve Tic A.S., Abdi Ibrahim Ilac Sanayi ve Ticaret, GlaxoSmithKline, BERKO ILAÇ, and Bilim Pharmaceuticals. Johnson & Johnson, Bayer AG, Novartis AG, Sanofi S.A., Reckitt Benckiser Group Plc., The Procter & Gamble Company, Teva Pharmaceutical Industries Limited Cipla Ltd. are the market players present in the Turkey over the counter drug market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type · Dosage Form · Distribution channel · Application |
| Regional scope | Marmara Region, Central Anatolia, Eastern Anatolia Region, South-Eastern Anatolia Region, Aegean Region, Mediterranean Region, Black Sea Region. |
| Key companies profiled | Novartis, Nobel Ilac San ve Tic A.S., Abdi Ibrahim Ilac Sanayi ve Ticaret, GlaxoSmithKline, BERKO ILAÇ, and Bilim Pharmaceuticals. Johnson & Johnson, Bayer AG, Novartis AG, Sanofi S.A., Reckitt Benckiser Group Plc., The Procter & Gamble Company, Teva Pharmaceutical Industries Limited Cipla Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Dosage Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word Dosage Format on special request) |
Report Scope
In this report, the Turkey Over-The-Counter Drugs Market has been segmented into the following categories, in addition the industry trends which have also been detailed below
Turkey Over-The-Counter Drugs Market, By Product Type
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Turkey Over-The-Counter Drugs Market, By Dosage Form
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Turkey Generic Drug Market, By Application
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Turkey Over-The-Counter Drugs Market, By Distribution Channel
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Turkey Over-The-Counter Drugs Market, By Region
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Competitive Landscape
Company Profiles
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