A Perfect Companion of Baby’s Health: Solutions from Global OTC Pediatric Healthcare Market
A baby’s smile can joy to the house. This can bring immense happiness into the lives of the parents and every other family member. However, the same smile can turn into puddle of tears when the baby gets sick. The best remedy to the normal illnesses such as cough and cold, or fever are the over the counter drugs. The OTC or over the counter drugs are mild medications that can be administered without prescription of doctor. Since these drugs are easily available in the convenient stores and various small pharmacies, the global OTC pediatric healthcare market is expected to witness a substantial growth in coming years. Moreover, the importance of these drugs as prime first-aid solution for children is also a major factor that is propelling the growth of global OTC pediatric healthcare market.
What Drives the Growth of the Global OTC Pediatric Healthcare Market?
“The global OTC pediatric healthcare market is expected to reach to the mark of US$ 10 bn in terms of revenue by the end of 2022” –Fact.MR.
Pharmaceutical companies are investing massive resources in the development of a low-risk and effective over the counter drugs. These investments are in the form of research and development that enable the companies to develop these drugs. However, there are certain challenges such as risk of some serious damage to the children’s health if the OTC drugs are consumed by them under no supervision. Nevertheless, the demand for an OTC drug that can cure the ailment without harming the health of the baby is the prime focus of the businesses involved in the global OTC pediatric healthcare market. Moreover, there are research that are under process that can claim that they do not have side-effects. As a result of these researches the global OTC pediatric healthcare market shall maintain the momentum of its growth during the tenure of 2017 to 2022.
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Dermatology to Emerge as a Leading Segment of the Market
A baby’s skin is highly sensitive and extremely fragile. The care of baby’s skin is at the utmost priority when it comes to skin allergy. It is because of these factors the OTC dermatology sector is expected to be the dominant sector in global OTC pediatric healthcare market. Additionally, with the brands such as Johnson & Johnson who have a reputation of creating some of the most effective baby skin care products, the global OTC pediatric healthcare market shall experience an escalated growth over the period of time.
High Degree of Competition Hampers New Player’s Entry
The global OTC pediatric healthcare market is highly consolidated. This is because only a handful of the players are dominating the dynamics of the market. They have such a grip over the market that it gets highly difficult for the new players to enter the market.
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However, the new players are involving themselves in mergers and collaborations that can help them acquire essential resources. These resources can help the new players to overcome the challenges and have a sustainable future in the global OTC pediatric healthcare market.
Moreover, the research and development is also a key strategy opted by new and established players to bring new and effective products in the global OTC pediatric healthcare market.
North America to Dominate the Market
The global OTC pediatric healthcare market is dominated by North America in terms of geography. This is because the region is the home of several pharmaceutical companies that specializes in the development of OTC for babies.
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