Despite slowing global economic growth, the global consumer health market continued to perform well in 2012. As patent expiries and the use of generics erode prescription drug profits, companies are increasingly turning to consumer health products as a more consistent source of revenue. The value of the global consumer health market reached $203 billion in 2012.
Many consumers, meanwhile, are becoming more price conscious due to tightening personal budgets, but high healthcare costs and demographic trends support both preventive care and self-treatment with OTC options.
Drug manufacturers are capitalising on this demand by expanding into new categories, such as VDS; extending existing lines into new geographic markets; acquiring and revamping divested brands from other companies; and exploring unique prescription-to-OTC switches.
In mature and developing markets alike, however, one of the most fundamental growth drivers is innovation.
For more information on the Global consumer health market, please click here: Global consumer health market
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.