OTC drug consumption drops in recession, report claims

4 June 2009

The global recession is causing a substantial proportion of the world's population to cut back on over-the-counter medicines and look for  alternative treatments, including natural remedies. A poll conducted by  market research firm Nielsen, titled the Global On-line Consumer Survey,  took soundings from 25,000 Internet users in 50 countries, with 46%  agreeing with the proposition that economic decline will impact demand  for OTC products.

Generally, poorer countries were more likely to be where willingness to  reduce drug consumption was highest, with China at almost 80% and the  Philippines at about 75%. Nations with higher per capita wealth tended  to be less likely to skip treatments, such as Sweden, the Netherlands,  Denmark and Switzerland.

One difference identified by Jane Sarasohn-Kahn, a health economist  writing on her Health Populi blog, is that European consumers are more  likely than those in the USA to switch from OTC agents to traditional or  natural therapies. She explains that "there is much greater choice in  [US OTC] products, which are also 'open shelved'." This means that  people can shop around for more and find cheaper versions of the same  drug, Ms Sarasohn-Kahn noted.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight