World OTC Sales Up 6.8% in 1996

The world over-the-counter drug market rose 6.8% in 1996 by value toreach a total of $44.8 billion, according to Nicholas Hall, chairman and chief executive of Nicholas Hall & Co, speaking at the annual OTC News conference in London, UK.

The world market will grow 58% during 1996-2006 to reach $71 billion by the end of the period, Mr Hall forecast. The biggest growth, 142%, will be in Middle Eastern and Asian countries, rising from $2.9 billion to $7.1 billion, followed by 127% in central and eastern Europe, with sales up from $1.8 billion to $4.1 billion, and then the "Latina" markets, which are forecast to advance 97% in the period, from $2.6 billion to $5.1 billion. In contrast, Western Europe will grow 37% during the period, from $10.3 billion to $14.1 billion, while the US market will be up 36% from $12.9 billion to $17.5 billion, and Japan will rise 11%, from $6.7 billion to $7.4 billion, said Mr Hall.

1996's leading OTC markets were the USA, up 28.8%, Japan (15%), Germany (6.2%), France (4.8%) and South Korea (4.7%). The best emerging markets are Brazil, Indonesia, China, India and Russia, he added.