Over-the-Counter Drug Sales Saw Little Boost From Recession: Kalorama
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/10/12 -- Despite predictions that consumers in recessionary times would flock to cheaper drugs, the world drug market grew little in the past few years, according to Kalorama Information. The market grew just 3.5% in the last three years, according to the . The finding was made in its latest report on the subject, "."
"Results over the past few years may put to bed the theory that OTC drug sales go up during a recession," said Bruce Carlson, Publisher of Kalorama Information. "It's something that was broadly predicted, including in our own reports. It turns out that were affected by consumers having less cash in their pockets just as much as other products were."
According to the report, the $78 billion market for pharmaceuticals behaved as many products in the recent recession did: almost no sales growth in 2009 and slowly increasing but below average growth in the past two years. The report finds that OTC drug products are sold worldwide and the growth rates are highly fragmented by region and type of drug category, largely due to differences in economic conditions, perception of self-medication, education, access to medical advice and products, demographics, product availability, and incidence of diseases and medical conditions.
Kalorama offers a few reasons for the slow growth: consumers reduced doctor visits and sought to trim all medical expenditures since 2009, which dampened the benefit from customers preferring lower priced OTC drugs; lower-priced drug store brands competed well with brand name products, reducing prices paid; and increasing numbers of patients insured through Medicaid and Medicare were better able to purchase prescription products, reducing the need for OTC purchases.
Some regions showed faster or slower growth than average, and some drug categories also showed better performance. These segments are detailed in Kalorama Information's report, "."
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on , and our .
Please direct all media inquiries to:
Bruce Carlson
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Datum: 10.05.2012 - 09:59 Uhr
Sprache: Deutsch
News-ID 1113124
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