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OTC Review and Outlook 2011
UBM Canon, Feb 2011, Pages: 80
Over-the-counter (OTC) drugs play an increasingly vital role in the American healthcare system. OTC medicines are cost-effective first-line therapies for many ailments. The product-switch process from prescription to OTC has a positive impact on America's healthcare system process by driving down overall healthcare costs. There are more than 300,000 marketed OTC drugs products including pain relievers, antacids, laxatives, decongestants, and vitamins. Approximately six out of every 10 medications bought by average consumers are OTC.
More than 100 ingredients and dosage strengths have made the switch from prescription to OTC status or have been newly approved by FDA during the past 35 years, including blockbuster prescription brands such as Allegra and Zyrtec. The leading therapeutic categories/medical-usage areas for OTC products include cholesterol therapy; contraception; cough, cold and allergy; dermatology; gastrointestinal disorders; pain management; sexual dysfunction; and weight management/obesity. Recent evidence has shown that some OTC medications can also help fight diseases such as Alzheimer's and Parkinson's, as well as heart attacks and some cancers.
A significant factor driving the over-the-counter arena is emerging markets. During 2010, the demand for consumers-care products in China and India markedly improved. China is considered the No. 2 consumer healthcare region worldwide after the United States. Solid market growth also was registered in Latin America during 2010. Another market driver is the growth in self medication by consumers. Each year consumers increasingly become more willing and able to safely medicate themselves with the help of resources such as online access. With this easily accessible and increased knowledge comes more self medication with OTC products.
The global market for consumer-care products generated slower growth in 2010 than during the previous year, partially because of a weaker flu season in North America and Europe. However, emerging markets for OTC products continue to expand, lead by China. The markets in India and Latin America also remain on a solid growth pattern.
Driving forces in the U.S. over-the-counter market include Rx-to-OTC switches of former blockbuster brands as well as consumers’ increasing usage of self medication. More than 300,000 OTC products are on the U.S. market, and the Food and Drug Administration has separated them into 80-plus classes based on their intended therapeutic uses. Leading therapeutic categories/medical-usage areas for OTC products include cholesterol therapy; contraception; cough, cold and allergy; dermatology; gastrointestinal disorders; pain management; sexual dysfunction; and weight management/obesity.
OTC data featured in this special report include:
- Company Profiles
- FDA OTC Approvals on the market
- Ingredients and Dosages Transferred from RX-to-OTC Status
- OTC Product U.S. Patent Data
- OTC Devices by Class
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