Market Research Report
Current and Future Trends in Rx-to-OTC Switching with Insight from Key Industry Opinion Leaders
|Published by||GlobalData||Product code||582948|
|Published||Content info||72 Pages
Delivery time: 1-2 business days
|Current and Future Trends in Rx-to-OTC Switching with Insight from Key Industry Opinion Leaders|
|Published: October 5, 2017||Content info: 72 Pages||
Rx-to-OTC switching is the process of transferring Rx pharmaceuticals to non-prescription OTC status for the same dosage form, population, and route of administration. OTC drugs are defined as those that are safe and effective for use by the general public without requiring intervention from a healthcare professional to obtain the product. Therefore, OTC medicines are available through a far wider range of channels than Rx drugs, including pharmacies, department stores and E-commerce.
Drug switches can therefore make access to treatments much easier for patients. This offers the added benefit of freeing general practitioners from spending office time on minor issues or chronic conditions that patients can manage on their own.
For pharmaceutical companies, Rx-to-OTC switches allow lifecycle extension of an off-patent drug, moving it from an environment in which healthcare providers drive sales to one in which patients select their own medications and will often demonstrate brand loyalty towards the original drug. In general, the broadened availability of OTC products can often mean that sales of the drug will increase, in spite of the lower price point at which such drugs are sold.
Based on overall revenue, the OTC pharmaceutical market has been dominated by four main categories: cough, cold, and allergy; analgesics; dermatologicals; and gastrointestinals. These categories have led the OTC drugs market over the last two decades in revenue and volume.
Key barriers to switching include the potential for misuse and abuse of drugs, particularly for analgesics, and the resultant need to demonstrate safety and clear labelling to regulatory agencies. A lack of harmonization in OTC approval processes between different countries also increases the burden for companies that want to launch their products across multiple territories.
The report "Current and Future Trends in Rx-to-OTC Switching with Insight from Key Industry Opinion Leaders" analyzes contemporary trends in Rx-to-OTC switching, a process in which a drug which has formerly been marketed as a prescription-only Rx drug is authorized for sale to the general public, without the need for a prescription.
Companies mentioned in this report: Teva Pharmaceutical Industries, Novartis, Bayer, GlaxoSmithKline, Mylan, GlaxoSmithKline, Perrigo Company, Valeant, Pharmaceuticals International Inc, Grifols, Mallinckrodt.