Key Note Report: Demand for OTC Medicines Continues to Rise
Retail sales of OTC pharmaceuticals grew by 6.7% in the year ending in February 2015, according to Key Note.
Teddington, United Kingdom, July 22, 2015 (Newswire.com) - According to OTC Pharmaceuticals, a new Market Update published by market intelligence provider Key Note, a rise in prescription charges in England, the NHS budget squeeze, the Government’s promotion of self-care and self-medication, and the switching of some prescription medicines to over-the-counter (OTC) products have led to an increase in demand for OTC pharmaceuticals.
Retail sales of OTC pharmaceuticals grew by 6.7% in the year ending in February 2015, according to Key Note. Analgesics comprise the largest sector within the OTC pharmaceuticals market, accounting for 21.5% of the total, followed by skincare treatment products (19.4%), cough, cold and sore-throat remedies (17.8%) and gastro-intestinal remedies (9.6%).
Within the market for analgesics, the adult oral analgesics sector accounts for the highest sales, at 61.9% of the total in 2014/2015. It is estimated that around two-thirds of the adult population in the UK purchase an analgesic every year and oral analgesics are the most popular choice.
Footcare is the largest subsector within the skincare treatment market. Retail sales of footcare products enjoyed consistent year-on-year growth over the past 5 years, driven by the UK’s ageing population and rising obesity rates, as well as increased awareness of products regarding foot-related problems, such as dry cracked feet.
Key Note projects that the OTC pharmaceuticals market will grow by 3% in 2015/2016 and 3.3% in 2016/2017.
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Press enquiries: Adam Pembrey at Key Note at apembrey@keynote.co.uk or 0845 504 0452. Press/review copies of the report are available on request.
Notes to editors:
Key Note’s 2015 Market Update, OTC Pharmaceuticals, analyses the market for over-the-counter medicines in the UK.
Key Note Ltd has been providing commercially relevant market information to libraries, academia and businesses since 1978. With over 1,000 titles available across 22 market sectors, and new or updated titles published every month, Key Note is one of the UK’s most prolific and respected business information providers. Within the range, some reports are written in response to particular market conditions, whereas other reports will be produced regularly year on year.
Key Note’s 2015 Market Update, OTC Pharmaceuticals, is available to purchase from Key Note on 0845-504 0452, by e-mail at sales@keynote.co.uk or at www.keynote.co.uk, priced £575.