Improving Your Fair Share: Expanding Your OTC Brand
Summary: The global over-the-counter (OTC) drug market is set to exceed USD $178B by 2024. While expecting lucrative growth, OTC product marketers face increasing competition driven by private label, market consolidation and direct to consumer brands.
Consumers constantly seek better OTC formulations that are faster acting and easier and more enjoyable to take, and these factors among others help drive new product development in an effort to gain users and share in an increasing crowded market. To win in this competitive market you need to innovate constantly and expand your brand offering to stay ahead of consumer trends and the competition. One way to do this is to work with a development and supply partner who can help you develop and supply innovative dose forms to expand and improve your product line.
1: Global market insight: https://www.gminsights.com/pressrelease/over-the-counter-otc-drugs-market