Report Overview
The China OTC Analgesics size stood at around USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of 6.46% during the forecast period.
With the growing aging population, the demand for pain relief solutions is increasing, as aged people are more prone to chronic pain. China's elderly population will rise to 11% by the end of the century and 20% by 2025 and will amplify the demand for OTC Analgesics.
Market Drivers
The major drivers for the OTC analgesic market are increase in demand for topical analgesics, growth in the geriatric population, cost efficiency of OTC drugs has led to the increasing the usage rate, increasing use of off-label drugs has led to easy pain management due to availability of OTC analgesics, and major analgesic manufacturers and distributor are increasing their product portfolio and geographical footprint to increase their stronghold in the global OTC analgesic market in the developed as well as developing markets.
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