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:10/13/2017)... Fairfax, VA (PRWEB) , ... October 13, 2017 ... ... provider of DevOps and Agile Software Development, has been awarded a contract by ... (EATS) Blanket Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare ... program management, will showcase a range of technology and learning solutions at the ... Convention and Expo to be held October 14–18, 2017 at the Mandalay Bay ...
(Date:10/12/2017)... ... October 12, 2017 , ... The company has ... today’s consumer and regulatory authorities worldwide. From Children’s to Adults 50+, every formula ... the highest standard. , These products are also: Gluten Free, Non-GMO, Vegan, ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... leader in post-acute health care, have expanded their existing home health joint venture ... , AccentCare has been operating a joint venture home health company with Asante, ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader ... a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were ... 11, 2017. , The annual award competition recognizes editorial and design excellence across a ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... , Oct. 2, 2017 The Rebound mobile ... the struggle to reverse the tide of prescription drug addiction. ... regulating their medicine intake and stepping down their dosage in ... to launch in December 2017; the first 100,000 people to ... more at http://www.rebound-solution.com/ ...
(Date:9/27/2017)... and NEW YORK , Sept. 27, 2017  DarioHealth ... and big data solutions, today announced that its MyDario product is expected ... local TV listings for when The Dr. Oz Show airs in your ... The nine-time Emmy ... ...
(Date:9/22/2017)... -- As the latest Obamacare repeal effort moves is debated, ... and Lindsey Graham (R-SC) medical device market ... is in an odd place.  The industry wants repeal ... on medical device sales passed along with the Affordable ... visits and hospital customers with the funding to invest ...
Breaking Medicine Technology: