A new report by visiongain predicts that the world market for over-the-counter (OTC) medicines will reach $80.7 billion for 2014. That revenue forecast appears in World OTC Pharmaceutical Market 2012-2022, published in June 2012. Visiongain is a business information provider based in London, UK.
London, United Kingdom, June 13, 2012 –(PR.com)– Visiongain forecasts that the overall market for OTC pharmaceuticals will grow steadily from 2012 to 2022. In recent years, revenues from consumer healthcare products have outgrown those from prescription (Rx) drugs. The high worldwide demand for OTC medicines benefits from demographic trends, emerging economies, awareness about self-medication and expanding channels of distribution, the study notes.
Dr Syed Ahmed, a senior healthcare industry analyst in visiongain, explains: “Self-medication is becoming increasingly popular. People worldwide rely on over-the-counter products for medical needs ranging from pain, flu, headaches and allergies to contraception, skin care, weight control and hair re-growth. The OTC market will achieve high revenue growth to 2022, stimulated in particular by Rx-to-OTC switches, other reformulations and rising demand in developing countries.
“In particular, the cough, cold and allergy market segment will perform strongly to 2022. The recent Allegra Rx-to-OTC switch has boosted the sector. Product launches and strong performance from existing brands will sustain high revenue growth this decade for consumer health companies. Innovative marketing and promotional campaigns will help those organisations, with Web 2.0 playing its part.”
There is a trend for companies to move some drugs from prescription-only to OTC availability (Rx-OTC switching) as part of product lifecycle management, the report observes. That trend is also attractive to consumers and healthcare providers. OTC medicines are generally priced lower than prescription drugs. Also, many consumers welcome the easier availability of OTC medicines, freeing themselves from the need to visit a doctor, especially if the ailment is non-serious or embarrassing.
Visiongain’s report provides revenue forecasts to 2022 at world market, therapeutic submarket, product and national level. It forecasts world sales for the following submarkets:
• Analgesics/pain relievers
• Gastrointestinal agents
• Dermatological treatments
• Smoking cessation products
• Other medications in consumer healthcare.
Analyses exclude vitamins, minerals and other nutritional products. The investigation predicts sales of leading products in the OTC market, including Tylenol, Nicorette, Panadol and Advil. Research, data and analyses cover activities of Johnson & Johnson, GlaxoSmithKline, Bayer, Procter & Gamble and other healthcare companies.
The study discusses brand extensions and commercial news, shows research interviews with external authorities and forecasts revenues in leading national markets. The work analyses markets in the US, Japan, leading EU countries, China and India.
World OTC Pharmaceutical Market 2012-2022 adds to visiongain’s range of analytical reports on industries and markets in healthcare.
For sample pages and further information concerning the visiongain report World OTC Pharmaceutical Market 2012-2022, please visit: http://www.visiongain.com/Report/833/World-OTC-Pharmaceutical-Market-2012-2022
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