Over-the-Counter (OTC) drugs are non-prescription drugs sold to consumers at pharmacies, convenience and grocery stores. These drugs include pain relievers, cough and cold remedies, sleeping aids, antifungals, and other products approved for use as a self-medication product. There has been a particular focus in the pharmaceutical industry on OTC drugs, and in several market research reports over the past decade, Kalorama Information has covered the strategies pharmaceutical companies are using in the OTC market. This report, The Worldwide Over the Counter (OTC) Drug Market has market sizes and forecasts in five general segments:
Issues and trends explored in this study include:
The report includes incidence of conditions which are often treated with OTC medicines, health statistics related to the industry, birth rates, world population, populations by region and issues affecting the market as a whole. Information is presented as a worldwide overview, with special emphasis on the U.S., Japan, Germany, and other key markets. The market segments provide an overview of demographics, information about products available in each region, market estimates and forecasts. Additionally, a competitive analysis of leading providers and profiles of providers is covered. In-depth profiles are included for the following companies:
All market data pertains to the world market at the manufacturers’ level. Sales pharmaceutical companies have earned selling OTC products. The base year for data was 2009. Historical data was provided for the years 2007 and 2008, with forecast data provided for 2010 through 2014. Compound annual growth rates (CAGRs) are provided for the 2007-2009 and 2009-2014 periods for each region and/or segment covered. Competitive analysis is provided for the year 2009. The forecasted market analysis for 2009-2014 was largely based on demographic trends, new developments, and global expansion.
New York, August 3, 2010—A robust over-the-counter (OTC) drug market exists in less developed regions, where OTC is often the most practical distribution method, according to medical market research publisher Kalorama Information. According to The Worldwide Over-the-Counter (OTC) Drug Market, a recent Kalorama report, non-prescription pharmaceutical sales account for between 8% and 30% of total pharmaceutical markets around the globe, with higher ratios of OTC sales in developing nations. Kalorama estimates the OTC drug market in Asia-Pacific and Africa is worth $21 billion with an average growth of 4% annually.
In 2009, the OTC drug market in the developing BRIC nations (Brazil, Russia, India, and China) claimed a higher percentage of total pharmaceutical sales compared to more developed nations such as the United States, which had an OTC market share of 8%. India paced the quartet of burgeoning world powers with an OTC market share of 33%. China (23%), Russia (19%), and Brazil (17%) followed suit with double-digit OTC share claims.
Developed nations Japan and Australia are also important international players in the OTC market, though the greatest opportunities for growth and expansion remain in China, India, Singapore, Malaysia, and Indonesia, among other developing nations.
“It’s simply easier to work around regulatory and distribution issues in these countries by distributing product direct to consumers where it is medically possible,” said Melissa Elder, analyst for Kalorama Information. “It’s not a new trend, but we see sales to developing nations continuing to drive up the portion of all Pharma sales that are OTC.”
Additionally, in nations such as China the general population has an increasing ability to purchase products due to staggering increases in per capita Gross National Income between 2000 and 2005. Combined with the large population of China, there is now a more significant market opportunity for companies to sell products, especially OTC products. In comparison, the U.S. experienced a mere fraction of China’s per capita GNI growth during the same period, while Latvia was the only country with a greater GNI increase than China.
The state of the economy, lifestyles, cultures, and the condition of medical care all contribute to the percentage of people that seek to self-medicate. People are highly influenced by the cost of healthcare and will purchase OTC products in order to save money. Because a large number of consumers in India are uninsured, the majority of the population is forced to be conscious of health spending. As an example the report says that nearly 80% of India’s population actively self-medicates according to the report. In Kenya nearly 60% of the population actively self-medicates for similar reasons.
The Worldwide Over-the-Counter (OTC) Drug Market investigates the strategies pharmaceutical companies are using in the international OTC market. The report includes market sizes and forecasts in five general segments.
Related Reports:Blood: The Worldwide Market for Blood Products, Blood Testing, Blood Equipment, and Synthetic Blood Products
May 23, 2013 - KLI5053645 - $3,500.00
The World Market for Pain Management Drugs and Devices
May 20, 2013 - KLI5042319 - $3,500.00
The World Market for Cancer Diagnostics, 5th Edition: Precision and Personalized Testing Arrives
May 8, 2013 - KLI5036103 - $4,500.00
The World Market for Catheters (Cardiovascular, Urological, Intravenous and Specialty Devices)
May 8, 2013 - KLI5040798 - $3,500.00
The Global Market for Medical Devices, 4th Edition
May 1, 2013 - KLI5030825 - $1,995.00
The World Market for Dialysis Equipment and Services (United States, Japan, UK, Italy, India, China, Australia and Canada )
Apr 15, 2013 - KLI5019344 - $3,995.00
Retail Clinics: Consumer Attitudes Results of the 2013 Kalorama Survey
Mar 22, 2013 - KLI5007914 - $995.00
The World Market for Implantable and Needle-Free Drug Delivery Systems
Feb 11, 2013 - KLI4962091 - $2,995.00
The World Market for Sutures, Staplers and Sealants
Jan 31, 2013 - KLI4983507 - $3,500.00
IVD Procedure Volume and Pricing Analysis
Jan 31, 2013 - KLI4958744 - $3,995.00
Questions?Contact a research specialist >
Most Popular ResearchWhy Epigenomics May Be a Game-Changer in Diagnostics and Pharmaceuticals World Market for Molecular Diagnostics, 5th. Edition (Infectious Disease, Oncology, Blood Screening, Pre-Natal and Other Areas) Outsourcing in Drug Discovery: The Contract Research Organization (CRO) Market, 5th Edition What's Next In Vaccines (Malaria, Diabetes, Alzheimer's, Allergies and 30 Other Targets in the 2012-2021 Vaccine Pipeline) White Paper: Bariatric Surgery Trends World Market for Prescription Dermatological Drugs, 8th Edition (Antiacne, Antiaging, Dermatitis, Hair Loss, Psoriasis, Skin Cancer, Melasma and Seborrhea Treatments)