World OTC Market Growth To 1998

The global market for over-thecounter medications will grow from a value of $39 billion in 1993 to $57.1 billion in 1998, at an annual compound growth rate of 8%. This compares to a forecast annual growth rate for pharmaceuticals as a whole of 6.9% over the period, which means OTCs will increase their share of the total global pharmaceutical market from 17.2% in 1993 to 18.1% in 1998, says a new study from IMS company Pharma Strategy Group Ltd.

The study, OTC Insight 1994-98, bases its forecasts on consumer-driven purchasing, excluding general practitioner-driven sales of prescribed semi-ethical products in European markets, but including estimates of illegal OTC sales of prescription markets in certain countries. If European sales of prescribed semi-ethicals are added, the value of the total OTC market in Europe goes up from a value in 1993 of $9.2 billion to $14.8 billion. The report notes the significant contribution of these products in France and Germany.

However, it anticipates that sales of prescribed semi-ethicals will fall, as governments continue to exempt these products from reimbursement as a way of containing health care costs. it expects the total OTC market in Europe to grow at a slower rate than the market for pure self-medication products, with the latter expected to increase its share of the OTC market from 60% in 1993 to close to 70% in 1998.