Opportunities and Challenges to Indian Pharma Industry with special reference to OTC Drug Market

OTC or Over-the-counter drugs/medicines are those drugs for which no prescription is require from any healthcare professional/ doctor. This can be purchased from any retail medical store, pharmacies or other retail outlets. These medicines are often used for treatment of minor ailments such as heartburn and pain relief, though there is a large possibility of adverse
side effects and casualties. That is why big giant FMCG companies or retail outlets like HUL, ITC etc. are also showing their interest to invest in the profitable OTC drugs market. The main reasons of rapid growth of the OTC drugs market are easing affordability, time shortage and competitive environment. The main challenges for slow growth of OTC drugs market is low
penetration in rural areas, literacy rate and above all traditional home remedies across the country.