DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/r9s2xd/otc) has announced the addition of the "OTC Pharmaceuticals Market Report 2014" report to their offering.
This Market Report analyses the over-the-counter (OTC) pharmaceuticals market in Great Britain. This includes medicines/products that can be obtained from a registered healthcare professional without a prescription, such as pain relievers, cough and cold remedies, sleeping aids, anti-fungal cream, and other products approved for use as a self-medication.
The market for OTC pharmaceuticals rebounded following the recent economic downturn and the sector grew by 3.5% and 2.1% in 2012/2013 and 2013/2014, respectively. By sector, analgesics represented the largest category, accounting for 21.2% of total sales of OTC products in 2013/2014. The second-largest sector within the OTC pharmaceuticals market was skincare treatment (19.3%), followed by cough, cold and sore-throat remedies (17.1%).
Within the market for analgesics, adult oral analgesics is the largest subsector, making up 64.8% of the total sales of analgesics in the year ending February 2014. The largest subsector in the skincare treatment market is foot care products, which has been growing over the past few years. Demand for cough, cold and sore-throat remedies is influenced by seasonal and weather conditions.
The National Health Service (NHS) in England is currently undergoing major structural changes. The NHS has been asked to make up to £20bn worth of efficiency savings between 2010 and 2015. The Reform provides general practitioners (GPs) and other clinicians with much more responsibility for spending the budget in England, and encourages greater competition with the private sector. The Government has made several initiatives to promote self care and self medication to help reduce the burden on the NHS. By encouraging self care and self-medication, it hopes this will help to widen the usage of OTC pharmaceuticals. The continual increase in prescription charges in recent years will also help to boost sales of OTC products.
The authors project the market for OTC pharmaceuticals will grow by 2.3% and 2.5% 2014/2015 and 2015/2016, respectively. Over the 5 years to February 2019, the authors project a growth of 12.5% overall. The market will be driven by the Government's efforts to encourage self care and self-medication to reduce the pressure on the NHS. Individual sectors will also be affected by sector-specific trends, such as major flu epidemics, which will affect sales of cough and cold remedies.
- Bayer Plc
- Glaxosmithkline Plc
- John Wyeth & Brother Ltd
- Johnson & Johnson Ltd
- Novartis UK Ltd
- Reckitt Benckiser Group Plc
For more information visit http://www.researchandmarkets.com/research/r9s2xd/otc