Navigation Links
Self-Medication One of Many Factors Driving OTC Drug Market Past $80 Billion by 2012
Date:5/7/2008

NEW YORK, May 7 /PRNewswire/ -- Longer life expectancy, greater interest in self-medicating, improved availability and easier access are all factors fueling growth in sales of over-the-counter (OTC) drugs. The world market boasted $68.4 billion in 2007 sales, with a 3.9% CAGR since 2005. According to a new report by Kalorama Information, World OTC Pharmaceutical Markets: Self-Medication, Developing and Petro-Rich Economies, BTC and Other Growth Trends, this market should enjoy a higher 4.3% CAGR through 2012.

Consumers are taking an increasingly active role in self-medication, due to rising healthcare costs, a large uninsured population and ever more choices in OTC products. Purchasing OTC drugs is also more convenient and money is saved avoiding doctor's visits. In fact, recent studies have uncovered that up to 40% of consumers do not fill a doctor's prescription, rather substituting with an OTC alternative. Ultimately, purchasing OTC drugs saves U.S. consumers around $15 billion annually.

OTC drug sales account for between 8% and 30% of total pharmaceutical sales in the majority of world regions. In developed regions, such as the U.S. and the U.K., they accounted for 7.7% and 15.8% respectively in 2007. Higher percentages of OTC sales are often found in regions that are less developed, such as India or China.

"The state of the economy, lifestyle, culture, the time it takes to see a doctor and the condition of medical care all contribute to people seeking to self-medicate," notes Kalorama analyst Melissa Elder. "While it's not the optimal method of treatment, and could lead to complications and undiagnosed conditions, it is nonetheless an important factor driving sales, especially in emerging countries like China."

Kalorama Information's report World OTC Pharmaceutical Markets: Self-Medication, Developing and Petro-Rich Economies, BTC and Other Growth Trends covers the latest OTC trends, and developments in North and South America, Asia Pacific/Africa and Europe. The report includes market size, forecasts, health statistics, demographic data, product information and company profiles. It can be purchased directly from Kalorama Information by visiting http://www.kaloramainformation.com/OTC-Pharmaceutical-1614108/.

About Kalorama Information

Kalorama Information supplies the latest in independent market research in the life sciences, as well as a full range of custom research services. Kalorama routinely assists media with healthcare topics, and can provide experts to speak about markets in the life sciences industry. For more information, contact Andrea Hiller at 212-807-2673 or press@kaloramainformation.com, or visit http://www.kaloramaInformation.com.


'/>"/>
SOURCE Kalorama Information
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Alzheimers Disease Risk Factors May Be Gender-Specific
2. Factors affecting survival, disability of extremely premature infants identified
3. Inflammatory Bowel Diseases Share Some Genetic Risk Factors
4. Factors in Cancer Death Rates Stay Stagnant
5. Smoking, Drinking, Cholesterol May Be Alzheimers Risk Factors
6. Integrating genetic information with breast cancer risk factors may help refine prognosis
7. Methamphetamine Use Associated With Pulmonary Arterial Hypertension in Patients With Previously Unknown Risk Factors
8. Prostate size and other neglected factors influence prostate cancer treatment satisfaction
9. Study names 5 factors of social ills in energy, mining and logging communities
10. Consumer Advocate Speaks Out Against Bill Allowing Invasions of Medical Privacy; Author Received $21k from Bill Benefactors
11. Researchers ID behavioral risk factors for head and neck cancers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out of ... verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... throw rocks at my other children and say he was going to kill them. ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all ... brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary ...
(Date:6/24/2016)... ... , ... People across the U.S. are sharpening their pencils and honing their ... in which patients and their families pay tribute to a genetic counselor by nominating ... of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , In April, ...
(Date:6/24/2016)... Las Vegas, Nevada (PRWEB) , ... June 24, ... ... their Las Vegas client, The Grove Investment Group (TGIG), has initiated cultivation and ... The Grove, in Las Vegas and Pahrump, Nevada. , Puradigm is the manufacturer ...
(Date:6/24/2016)... ... 24, 2016 , ... Venture Construction Group (VCG) sponsors Luke’s Wings ... 20th at the Woodmont Country Club at 1201 Rockville Pike, Rockville, Maryland, 20852. ... service members that have been wounded in battle and their families. Venture Construction Group ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 If ... Leaders Scholarship is any indication, the future is in ... at www.diabetesscholars.org by the Diabetes Scholars Foundation ... the way of academic and community service excellence. ... since 2012, and continues to advocate for people with ...
(Date:6/23/2016)... -- Research and Markets has announced the ... (United States, China, Japan, Brazil, United Kingdom, Germany, France, ... Surgical Procedure Volumes: ... provides surgical procedure volume data in a geographic context. ... analysis of growth drivers and inhibitors, including world population ...
Breaking Medicine Technology: