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OTC Opportunities in Europe, the US and Japan: Key Trends, Leading Players and Future Rx-OTC Switching
Business Insights, Jan 2010, Pages: 125
The developed OTC markets such as the US and UK are heavily reliant on Rx-to-OTC switching of “new generation” products as a means of generating growth. Switching also plays an important role for less-developed markets (e.g. France, Spain, Italy, Japan), though in this case they are playing “catch-up” with the more developed markets. The “Power of Switch” was brought into sharp focus in 2009 with the first ever use of the Centralized Procedure for switching products throughout the European Union. This comprehensive report provides background on market dynamics (including overall market size and therapeutic category size) for each of the core countries under analysis.
This report also examines products and categories that are likely to be switched in the future, regulatory changes that are likely to impact the OTC market, and provides growth forecasts to 2013. Included in the report are case studies for two of the most significant switches of recent years – i.e. Alli (orlistat) and Zocor (simvastatin).
Key features of this report
- Comprehensive examination of recent trends and developments in the featured countries.
- Market sizes and category sizes in 7 core markets.
- Case studies of the switches of orlistat and statins.
- Examination of regulatory changes that are likely to impact upon OTC markets in the future
Scope of this report
- Provides a clear and concise understanding of the dynamics of the global OTC market.
- Demonstrates how the dynamics of the OTC markets in the various countries differ widely, but also how they relate to each other.
- Identifies and examines examples of successful switches, which can be used as a model for future switches.
- Highlights switches that failed and examines possible causes for failure.
- Allows marketers to plan ahead: Anticipating what switches are likely to take place in future; and take into account other regulatory changes that are likely to take place.
Key Market Issues
- In 2008, the global pharmaceutical market grew by 4.8% to reach $773bn (MSP), while the global OTC market grew by 7.6% to reach $79.3bn (MSP). Although OTC growth in recent years has been driven by emerging markets such as China and Eastern Europe, the developed markets of North America, Western Europe and the Pacific Rim together account for over 50% of global OTC turnover.
- Although most Rx-to-OTC switches are driven by manufacturers; governments around the world increasingly view Rx-to-OTC switching as a means of relieving pressure on overburdened health insurance systems.
- Throughout the world, access to OTCs is increasing. In some countries, the increased access is derived mainly from pioneering switches from Rx-to-OTC; while, in others, the increased access is derived mainly from the opening up of distribution channels and from an easing of advertising restrictions.
Key findings from this report
- In all seven featured countries, OTC market expansion is being fuelled by Rx-to-OTC switching.
- The success of new-generation switches often relies on a collaborative care model, involving co-operation between consumers, doctors and pharmacists.
- In the future, the collaborative care model could potentially be used as a basis for switching products for treating conditions such as asthma, hypertension, hyperglycemia and osteoporosis. There is also scope for switching products for treating conditions for which the timing of treatment is critical: for example, adrenaline injectors containing epinephrine and antivirals such as Roche’s Tamiflu (oseltamivir).
Key questions answered
- What opinion do various stakeholders (i.e. consumers, regulators, manufacturers, healthcare professionals) have on Rx-to-OTC switches?
- What does the future hold for the global OTC market?
- What Rx-to-OTC switches might there be in the future?
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