Turkey Over-The-Counter Drugs Market- By Product Type (Cough & Cold Drugs, Analgesics Drugs, Dermatology Drugs, Gastrointestinal Drugs, Vitamins, Minerals, and Supplements (VMS), Ophthalmic Drugs, Others), By Route of Drug Administration (Oral, Parenteral, Topical, Others), By Dosage Form (Tablets, Capsules, Liquids & Solutions, Cream/Lotion/Ointments, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy) By Region, Competition, Forecast, and Opportunities, 2028

Turkey Over-The-Counter Drugs market is expected to grow at a significant rate during the forecast period. The high price of prescription medications has caused a shift toward over-the-counter (OTC) medications and increased OTC drug approval, which is responsible for the expansion of the OTC drug market. OTC medications are those that are sold directly to the customer without a prescription from a healthcare professional or a doctor. Regulatory bodies in many nations choose over-the-counter (OTC) medications to ensure that they contain ingredients that are safe and effective when used without a doctor's supervision. Instead of the finished product, the active pharmaceutical ingredient (API) in over-the-counter (OTC) medications is typically regulated. Instead of regulating individual drug dosage formulations, governments can freely synthesise chemicals or constituent combinations into proprietary blends. In terms of distribution channels, pharmacies are the primary channel for OTC drugs in Turkey, with chain pharmacies accounting for most sales. However, online sales of OTC drugs are also on the rise, with the COVID-19 pandemic accelerating the shift towards e-commerce. Overall, the OTC drug market in Turkey is expected to continue growing, driven by factors such as an aging population, increasing urbanization, and rising health awareness.

Increasing Demand for Dietary Supplements

There has been an increasing demand for dietary supplements in Turkey in recent years, reflecting a growing trend towards a healthier lifestyle and a greater awareness of the benefits of preventive healthcare. This trend has been driven by several factors, including the rise of the middle class, an aging population, and a growing interest in sports and fitness. One of the main drivers of this trend has been the increased availability and variety of dietary supplements as OTT drug in Turkey. With the rise of e-commerce and online marketplaces, it has become easier for consumers to access a wider range of supplements and to compare prices and features.

In addition, there has been a greater emphasis on health and wellness in the media and in advertising, which has raised awareness of the benefits of dietary supplements. This has been coupled with an increased interest in healthy eating and lifestyle choices, which has led to a greater demand for supplements to complement a healthy diet. The Turkish government has also played a role in promoting the use of supplements, particularly those that address specific health conditions. For example, the government has encouraged the use of supplements to combat vitamin and mineral deficiencies, as well as to support the immune system and cardiovascular health. Overall, the increasing demand for supplements in Turkey is part of a broader trend towards preventive healthcare and a greater focus on personal health and wellness which in turn has boosted the growth of Turkey over the counter drug market.

Strong Focus on the Research and Development and Launch of New OTC Products by Key Players

In recent years, Turkey has been focusing on developing its pharmaceutical industry, including the OTC sector. The Turkish government has implemented policies to promote innovation and R&D in the industry, including tax incentives and grants for companies investing in R&D activities. The OTC market in Turkey is quite large and has been growing steadily. There are several Turkish pharmaceutical companies that are actively engaged in R&D in the OTC sector. These companies include Abdi Ibrahim, Bilim Pharmaceuticals, and Eczacibasi-Monrol. These companies have invested heavily in R&D activities, including developing new products, and improving existing ones. In addition, there are also international pharmaceutical companies operating in Turkey that are involved in OTC R&D. These include Bayer, GlaxoSmithKline, and Pfizer. Overall, there is a strong focus on R&D in the OTC sector in Turkey, and this is likely to continue in the coming years as the government continues to support the development of the country's pharmaceutical industry.

Companies like Johnson & Johnson Services Inc., Bayer AG, Novartis AG, Sanofi S.A., Pfizer, and many others, are active in this industry. These major industry players are engaged in R&D to create and commercialize novel over-the-counter medications for a range of medical ailments. The rise in self-medication during the predicted period is one of the major drivers of market expansion. Pharmacoepidemiology and Drug Safety estimates that various people rely on over-the-counter medicine, with females being more likely to do so. Additionally, the market is expanding because of consumers migrating from prescription (Rx) to over the counter (OTC) medications due to lower costs and an increase in OTC medicine approvals from regulatory bodies. Therefore, the over-the-counter drug in turkey is gaining popularity which in turn drives the growth of the market.

Convenience and Low Cost of OTC Drug is fuelling Market Expansion.

OTC (over-the-counter) drugs are medications that can be purchased without a prescription from a healthcare professional. These drugs are typically used to treat common health conditions like allergies, pain, and colds. The cost of OTC drugs can vary depending on the brand, the store where they are purchased, and the location. However, in general, OTC drugs tend to be less expensive than prescription medications. One reason for the lower cost of OTC drugs is that they do not require a prescription or consultation with a healthcare provider. This means that the manufacturer can produce them at a lower cost and sell them at a lower price than prescription medications, which require extensive testing and regulatory approvals.

Additionally, OTC drugs are often available in generic versions, which are typically less expensive than brand-name versions. Generic drugs have the same active ingredients as their brand-name counterparts and are just as safe and effective. Overall, the low cost of OTC drugs makes them an affordable and accessible option for treating many common health conditions. Therefore, low cost of over-the-counter drug is fuelling the market expansion.

Additionally, convenience and the existence of a sizable number of retail establishments selling OTC items are some of the crucial factors anticipated to propel market expansion throughout the forecast period. Market expansion is being fuelled by the private sector's growing investments in enhancing the supply chain through retail stores and other distribution channels, in both developed and developing nations. The market is expanding because of regulatory agencies increasingly approving the conversion of prescription treatments to over-the-counter medications. There has been a noticeable trend in favour of these more practical and affordable alternatives as the bulk of prescription allergy medications have transitioned to OTC. For instance, the Consumer Healthcare Products Association (CHPA) reports that many prescription allergy medications have been converted to over-the-counter versions and that this dosage formation has occurred due to the cheaper price of these medications.

Improper Diagnosis and Self-Medication is Limiting Market Expansion.

The issue of medication overdose due to improper diagnosis and self-medication is a serious concern that can have negative impacts on both the health of individuals and the growth of the medication market. people self-medicate without seeking professional medical advice, they may end up taking the wrong medication or taking the medication in the wrong dosage, which can lead to adverse reactions, side effects, and even overdosing. This can damage the reputation of the medication and the brand, leading to a decrease in sales and consumer confidence.

Furthermore, improper diagnosis and self-medication can also lead to the development of antibiotic-resistant strains of bacteria and viruses, which can further hamper the OTC drug market. Antibiotic-resistant bacteria and viruses are becoming increasingly prevalent due to the overuse and misuse of antibiotics, and this has led to the development of stronger antibiotics, which can be more expensive and have more significant side effects. This factor limits the growth of the OTC drug market in Turkey. In conclusion, it is important to seek professional medical advice before taking any medication to avoid negative consequences, both for individual health and for the OTC drug market.