The OTC Pharmaceuticals Market in the APAC region is to grow at a CAGR of 3.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing switch from prescription to OTC drugs. The OTC Pharmaceuticals market in the APAC region has also been witnessing the trend of an increasing number of mergers and acquisitions. However, the product recalls by the US FDA could pose a challenge to the growth of this market.
Mergers and acquisitions aid vendors to grow rapidly and expand their businesses. The over-the-counter (OTC) Pharmaceuticals market is nowadays witnessing an increased number of mergers and acquisitions among its vendors. For instance, Sanofi acquired US-based Chattem Inc. which is a leading manufacturer of branded consumer healthcare products, toiletries and dietary supplements. This acquisition will increase the company's market share in the US Consumer Healthcare market. J&J acquired Synthes Inc. in June 2012 to strengthen its orthopedics business and its position in developing countries.
One of the key drivers that will help significantly in driving consumer health is the switch from prescription to OTC drugs. As OTC medicines are cost-effective therapies for many health-related problems, the prescription to OTC switch has a positive impact on the market as it is helping in cutting down the overall healthcare costs. Moreover, there is a trend to move some drugs from a prescription to an OTC category as part of product lifecycle management. Also, many consumers prefer the OTC drugs because of their easy availability, which frees themselves from the need to visit a doctor. Thus, increasing the prescription to OTC switch has increased the OTC drugs demand significantly.
The key vendors dominating this market space are Johnson and Johnson, GlaxoSmithKline plc, Novartis International AG, and Bayer Healthcare AG.
For more information on the Asia-Pacific OTC pharma market, please click here: Asia-Pacific OTC pharma market
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