Over-the-Counter Represents 45 Percent of the Global Consumer Health Industry in 2016

research company
Euromonitor International released today new
consumer health industry data. According to the new research, global
sales of consumer health products will reach USD $217 billion globally
in 2016 – a 3 percent growth from 2015.

Over-the-counter (OTC) medicine represents 45 percent of the consumer
health industry at USD $98.5 billion in 2016. The main driver of this
growth stems from prescription (Rx) drugs switching to OTC, especially
in allergy care.

“An important push to switch drugs from prescription to OTC or
non-prescription drugs continues to bring new market expansion
opportunities for firms,” Monica Feldman, head of consumer health
industry research at Euromonitor International, says. “This is
especially true in the therapeutic areas of respiratory and digestive
health and esomeprazole.”

The U.S. continues to dominate the consumer health space representing 31
percent of the overall industry at USD $67 billion in 2016. Paired with
China, Japan, Germany and Italy, these five countries comprise 61
percent of global sales within consumer health, confirming that the
industry is mainly driven by developments in a few geographies. This
finding also signals an opportunity for market expansion in other
countries with only 1 to 2 percent global share in 2016, including South
Korea, France, India and Mexico amongst others.

“This year, the new proposition for consumer health is founded on a
formidable shift toward lifestyle and wellness programmes supported by a
holistic approach to self-care,” Feldman continues. “These factors will
create a unique window of opportunity based on the personalization of
consumer health.”

To learn more, visit: http://www.euromonitor.com/consumer-health

About Euromonitor International

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Euromonitor International
Marissa Bosler
Tel: +1 (312) 477-8908
Email: marissa.bosler@euromonitor.com