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PRESS RELEASE

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The global over-the-counter pharmaceuticals market will reach $106.3bn in 2017

A new report by Visiongain predicts that the global over-the-counter pharmaceuticals market will reach $106.3bn in 2017. This forecast and others appear in World OTC Pharmaceutical Market 2013-2023, published in October 2013. Visiongain is a business information provider based in London, UK.

Over-the-counter (OTC) pharmaceuticals are medicines that are available to patients and consumers without the need for a prescription. The OTC pharmaceutical market is expected to grow throughout 2013-2023, driven by demographic and economic trends, the switching of medicines from prescription-only to OTC sale, and changes in cultural attitudes to self-medication and regulatory processes in national markets. The market continues to attract pharmaceutical companies seeking to build a diverse portfolio of healthcare businesses as well as consumer goods companies aiming to extend their range of consumer brands.

Thomas Ling, a pharmaceutical industry analyst in Visiongain, explains: “The next ten years will see the world OTC pharmaceutical market double in size as continued demand for affordable medicines, especially in emerging economies, and the creation of entirely new markets in new therapeutic areas, generates opportunities for growth. The FDA’s Nonprescription Drug Safe Use Regulatory Expansion (NSURE) initiative, announced in February 2012, is likely to encourage more switching of prescription drugs to OTC sale. New technologies such as electronic information kiosks in pharmacies may lead to OTC switching of medicines currently considered inappropriate for self-treatment, potentially allowing drugs such as Lipitor (atorvastatin, Pfizer) to eventually make the switch to OTC. This is in addition to 2013’s switch of Merck’s Oxytrol for Women, which created a new market in medicines for self-treatment of overactive bladder. We also expect to see store-brand OTC products continue to gain market share in this competitive market.”

The US is currently the leading national market with 30.4% of the world OTC pharmaceutical market in 2012. However, emerging economies such as China and India are predicted to become significant markets in the second half of the forecast period, with the BRIC nations expected to represent 44.1% of the global market in 2023.

Visiongain’s report provides revenue forecasts to 2023 for the world OTC pharmaceutical market and leading national markets. It forecasts sales in the US, Japan, the EU5 countries of Germany, the UK, France, Italy and Spain, and the BRIC nations of Brazil, Russia, India and China. The report also forecasts sales for the market segments of cough, cold and allergy medicines; analgesics; dermatological products and gastrointestinal remedies. It includes interviews with industry experts regarding current market trends.

World OTC Pharmaceutical Market 2013-2023 adds to Visiongain’s range of analytical reports on industries and markets in healthcare.

 

For more information of this report please click on http://www.visiongain.com/Report/1125/World-OTC-Pharmaceutical-Market-2013-2023 or email Sara Peerun on sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

 

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, and Materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional who needs independent, high quality, original material to inform business decisions. 

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