China’s Bulging Waistline to Fatten-Up Over-the-Counter Drugs Market

Friday 8 February 2013, Amsterdam

China’s Bulging Waistline to Fatten-Up Over-the-Counter Drugs Market
The Chinese market for Over-The-Counter (OTC) drugs will almost double in size by 2018, with the country’s swelling obesity rate a key contributor, says the latest study from business intelligence providers.

The firm’s new report predicts China’s OTC market to reach a value of US$16.6 billion by 2018 from 2011’s total of US$8.6 billion, representing  a Compound Annual Growth Rate (CAGR) of 9.8%.

According to the World Health Organisation (WHO), between 2012 and 2018 the number of Chinese citizens who are overweight or obese will explode, from a relatively modest 29% to a substantial majority of 81% - overtaking other emerging markets including Brazil, Russia and Turkey.

Correspondingly, China can expect an increase in weight-related health conditions, which will lead to a significant boost to the country’s pharmaceutical industry, including the OTC market. The most serious complaints relating to obesity require medical attention or prescription drugs, but OTC treatments can be used to alleviate minor symptoms such as pain or gastrointestinal upset.

Weight-loss treatments can also be purchased without prescription and, with an effective marketing campaign highlighting the health concerns related to obesity, China could become one of the largest consumers of these products globally.

Kimberly Carter, Life Sciences Analyst, says: “Growing elderly populations and rapidly rising obesity are driving growth of the OTC market in China.
“Thanks to a vibrant economy and greater awareness, consumers are placing a higher value on their health and their spending on OTC products is reflecting that.”

Last year’s figures show that, other than Traditional Chinese Medicines (TCMs), cough, cold and allergy drugs hold the largest OTC market share in China with 29%.The lifestyle OTC sector, which includes weight management drugs, was second with an 18% share, but this is expected to increase in line with the county’s growing overweight population.
OTC Pharmaceuticals and Self-medication in Seven Emerging Markets - Expanded Access, Aging Populations and Increasing Obesity Levels to Drive Future Growth

OTC Pharmaceuticals and Self-medication in Seven Emerging Markets - Expanded Access, Aging Populations and Increasing Obesity Levels to Drive Future Growth

Publish date : November 2012
Report code : ASDR-44197
Pages : 104

ASDReports.com contact: S. Koomen

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