India Over The Counter (OTC) Drugs Market Report by Product Type

(Cough, Cold and Flu Products, Analgesics, Dermatology Products,

Gastrointestinal Products, Vitamins, Minerals and Supplements (VMS),
Weight-loss/Dietary Products, Ophthalmic Products, Sleeping Aids, and
Others), Route of Administration (Oral, Parenteral, Topical, and
Others), Dosage Form (Tablets and Capsules, Liquids, Ointments, and
Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies,
Online Pharmacies, and Others), and Region 2024-2032

The India over the counter (OTC) drugs market size

reached US$ 8.9 Billion in 2023. Looking forward, IMARC
Group expects the market to reach US$ 29.6 Billion by 2032,
exhibiting a growth rate (CAGR) of 14.28% during 2024-
2032
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• An introduction world wide web (www) has drastically emerged a new
environment for building long term business.
• Retailers as well as consumers can now place order for OTC product
comfortably from their home at any time.
• Advertisers have now moved their money over to the internet as customers are
an average spending more time online than watching TV.
• The researchers have found some observation for the market change and these
can be characterized at different stages in term of
 Competition
 Similar products in market
 Mean price based on available product
 Target audience for promotion
 Plan for channelization
 Gross benefits for company
 OTC companies are creating innovative strategies after OTC category
witnessed and huge competition.
• The strategies available are facing a great level of competition.
• Innovation in new forms dosage and service etc provide more value for the
money with new flavour and packing.
 MARKETING STRATEGIES BY OTC COMPANIES
A strategy is a business plan of action that is intended to move an organization toward the
achievement of its short term objectives and, ultimately toward the achievement of its
fundamental goals. However OTC drugs Companies and market is expanding - price levels
are rising. This coupled with increased personal spending, fuelled by economic growth and
greater access to medical care is helping in the expansion of the OTC market. Current
scenario in the domestic industry shows that there is a great untapped potential. But, the
industry needs to concern some performance related issues in the domestic markets. On the
other hand many OTC Drugs marketing Companies have successfully invested a surplus of
strategies to target the various types of customers, recent business and customer trends are
creating new challenges and opportunities for increasing profitability. Use of medical
representatives (MR) for marketing products to physicians and to exert some influence
over others in the hierarchy of decision makers has been a time-tested tradition. Business
strategy formulation related to domain direction and navigation, or how businesses
compete in the areas they have selected by OTC Drugs marketing firms
Corporate strategy formulation refers primarily to domain definition, or the selection of

business areas in which the organization will compete. As the prescription drugs patent

expires in the domain the strategy of maintaining and marketing of patent expired is

useless and meaningless. Therefore, a new domain of switching OTC drugs and

strategically it requires new perspective of marketing OTC products in the existing

markets and even in untapped market. Ultimately, the functional strategy formulation

contains the details of how the functional areas such as marketing, operations, finance,

and research should work together to achieve the business-level strategy. Corporate

strategy decisions on switching Rx product to OTC products are made by the MD and

BOD and CEOs.

 MARKETING STRATEGIES FOR OTC PRODUCTS
OTC drugs marketing strategies are very important aspect of any pharmaceutical
industry especially what happens when a pharmaceutical products losses the
patent protection, it is essential to consider whether radical change is really
necessary. It may be possible that the pharmaceutical Product is operating in a
niche category that is too small to attract challenging generic Competition, at
least in the short term. It could also be that the awareness and image of the brand
is so strong in patients’ and doctors’ minds that it would retain most of its equity
even after the loss of patent protection. Marketing strategies available for a
prescription drug facing competitive environment from existing generic product
involve a trade-off between brand building and price competition. A company can
also resort to no marketing oriented strategies such as legal efforts to extend
patent protection or tactical alliances with generic makers and can simultaneously
implement different strategies, thereby creating a hybrid model.
Low Price strategy:

Narrowing the price gap with Revital addresses the main problem created by the

expiry of the patent; that the equity of the brand can no longer sustain a large price

differential with what is, essentially, the same product. At the extreme, comparing

the price with the generic will make doctors, pharmacists and regulators

indifferent between the two and may force the weakest generic makers out of the

business, given their lower economies of scale. On the other hand, price

competition invites retaliation and can quickly degenerate into a price war that

would kill all the profits in the category. Another issue to be kept in mind here is

that most doctors who prescribe the drug are not aware of prices. Communicating
Divest strategy:
This strategy involves reducing all promotional and research expenses once the brand faces
direct competition from Revital and redirecting the savings towards brands that are still
protected with patent. Sometimes, this marketing strategy actually involves price increases
to take benefit of the higher brand equity of the brand among the smaller segment of hard-
core loyal customers.
Value for the money:
Introducing new and improved flavors, packaging, or delivery systems can lead to
additional emotional or functional consumer benefits in the pharma industry. This type of
differential enhances the awareness and image of the brand and hence increases its brand
equity. Because these innovations typically do not extend patent life however, it is more
difficult to pass the costs on to the consumer when facing generic competition and hence,
this strategy’s lead is one step ahead towards price competition. In addition, these
improvements can be easily copied by generics and thus often have only a weak impact on
sales, while reducing margins
Innovation strategy:
Pharmaceutical companies can innovate by launching new forms and dosages or
by demonstrating effectiveness for new indications. They can also innovate by
offering better services for doctors and better communication on the illness and
on the brand through higher promotion by the medical representatives (MR).
Compared with the above stated strategy, this option also entails low price
competition, but can improve the equity of the off-patent brand by offering
additional patent protection. On the other hand, innovations require years of
research before being authorized and, in some countries, do not necessarily
extend the duration of the patent. Provide more value for the money introducing
new and improved flavors, packaging, or delivery systems (eg easy to swallow
pills, or patches) can lead to additional emotional or functional consumer
benefits.
Biotin Gummies
A pharmaceutical company can open their business by introducing new methods and
standards or demonstrating the product performance of a new index. Some new marketing
strategies are:
A. Emotional Influences- Many people buy the drug and not just their favorite celebrity
developers or celebrities who appreciate the beauty of the attractive tablet. Depending on
their age, discomfort, amount of money, time management and many other factors, they
influence the decision to buy. The logical decision-making process is the practice of buying
a health care product rather than other products. OTC products do not solve everyday
problems. OTC products are a current disaster, one that solves major disasters. By the way
disasters are related to the health of our body, it plans to act prudently in an attempt to
attract the laziness of starving to death without overdramatic. The general goal of most OTC
medications is pain treatment, and the whole idea of promoting the ad will reflect the
absence of the problem. Touching people's emotional options with a reliable definition of a
single pain relief is a very important approach. The following are some common business
negotiations.
B. Product Purchase Research-
Before purchasing a self-medication product, consumer use to research a particular type of
medication with the help of social media and the internet. Now the smart phone of the day is
very helpful in doing this research in the area where they are, people always need an online
expert opinion from authorized sources before making your medication to be sure of the
causes and remedies for the disease. Therefore, it is important for the advertiser to have
complete knowledge of search engine keywords, frequently asked questions, common
concerns etc. This enables the advertiser to verify the accuracy of his product information
available on social media and online. When information and communication are available in
a way that reaches the consumer, better understanding and information creates a higher
profitability to purchase that product. Clarity of beliefs within a product is one of the most
powerful forces behind their purchase decision
C. Staying on Consumer-
Thoughts The customer comes to the pharmacy, see what is available for minor ailments such
as Fever, colds and flu, headaches, etc., for personal use. It is a good thing if a company if a
company "wins the sale", of its medicines. However, it is also behind other companies. Since
the same medicament of OTC products cannot be sold by another industry, it becomes
difficult for other products to tend to remain in the consumer’s attention. Therefore,
marketers can be equipped with social media, emails, and mobiles; in this case, the market
may have the potential to make money available only to those who consider making a wish.

OTC Medication Promotion

OTC Medication is directly recommended by physicians and other health professionals.
Successful inclusion of OTC product can be achieved when Pharma company pursues
incentive and ethical strategies
Evaluation and analysis-
An important part of any marketing and creative part of testing and analysis remains crucial.
The will of the product becomes a successful social resistance as a representation of the faith.
If enthusiasts understand that a product receives more praise than disapproval from a variety
of people, inevitably, OTC drugs have no modification from the product. Some remedies will
work well for some people and for some people they will not be able to properly examine
more than the opposition of the wrong people enough to deny the negative thoughts from the
person reading the attention. By hearing a good test, the student begins to feel good about the
product and that is about marketing.
Customer Reliability- Some OTC medications are used on demand, other medications such
as vitamins and supplements are commonly used daily. Frequently used OTC drugs can
make the OTC industry perfect for consumer loyalty programs, which increase the frequency
of purchases, even the customer is confident that loyalty programs meet the business
component, and establish that a reliable company is right for them. Doing or breaking a
business also depends on a good loyalty plan. Loyalty plans are also an asset to the business
to allow for intelligent advice on customer base in their purchases in context and beyond.
Push and pull techniques-

These are followed in OTC drug promotion. Compression strategy ensures

product availability by persuasive retailers, pharmacists and physicians with full
knowledge of the product and offer. The strategy promotes from manufacturer to
retailer, retailers recommend it to retailers, and, finally, retailers recommend
medications to patients. Organizations additionally promote their products to
pre-sale retailers, dealers or drug stores together or within one of their locations.
The draw is about the manufacturer developing his or her object within the
market for the purpose of the application. In order to sell it the buyers pull the
item through a channel dedicated to convincing the distributor and seller
OTC Drug Marketing Promotion Strategies-
Pharmaceutical companies develop marketing strategies that bring their value to
the customer. Marketing strategies allow pharmaceutical business structures to
achieve their marketing objectives. The pharmaceutical industry should consider
the various standards of OTC drug product promotional strategies namely
1. Advertising must be genuine and not deceptive; not to mislead consumers who
work under moderate conditions.
2. Advertisers must have proof of duplication of claims. 3. Ads cannot be unfair.
The sales section should have product knowledge and a good understanding of
the doctor as well as the vendors.
The success of OTC products can be achieved when pharmaceutical companies
follow promotional and ethical strategies. These marketing strategies contribute to
the expansion of the OTC product component in the consumer health care sector.