EUROPEAN MARKET FOR SELF-MEDICATION

The worldwide market for over-the-counter health care products will be worth a total of $37 billion by the year 2000, at today's prices,which is an increase of 41% over 1990's level. The European market will by that date be outperforming every region in the world with the exception of the Third World, with growth of 52% to $12 billion, according to Nicholas Hall, publisher of OTC News and Market Report.

He told the OTC News conference on self-medication in Europe, entitled Breaking Down The Barriers, which was held in London last month (Marketletter May 4), that the prescription drug market will show no real growth over the next ten years, as it continues to be undermined by low-priced generics and government intervention. "No wonder that, with only two exceptions, all the major prescription companies have taken steps to make OTC acquisitions or form strategic alliances or joint ventures with leading OTC players," said Mr Hall.

The biggest single factor for OTC growth in Europe over the next few years will be delisting, which will benefit the OTC market to the tune of $1.3 billion at ex-factory prices by 1995, as radical cost-cutting programs are introduced throughout Europe, Mr Hall told the meeting. Prescription products which are most vulnerable to dereimbursement are semi-ethical analgesics, cardiovasculars and gastrointestinal products, especially in France and Germany, he said.