The market for semi-ethical pharmaceuticals is in decline as government cost-cutting policies and new manufacturer marketing strategies speed up the pace of prescription to over-the-counter drug switching across Europe, according to Frost & Sullivan. The $7.7 billion over-the-counter sector of 1993 is therefore growing vigorously, while the $5.4 billion semi-ethical sector will decline at 2%-3% per annum, it adds.
Cough remedies, with sales of $1.9 billion, dominate the OTC market with a 15% share, followed closely by analgesics worth $1.8 billion, accounting for 14% of the total, and digestive remedies worth $900 million or 11% of the market. The remainder of the market is made up of medicated skin products 9%, wound management products 9%, cold preparations 8%, dietary supplements 7% and "other" 27% of the market.
F&S identifies three key sectors - indigestion remedies, analgesics and antiallergy compounds, where Rx-to-OTC switching will be an important market factor.
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