OTC Sector Growth Jeopardised By Lack Of Innovation
BMI View: The over-the-counter (OTC) medicines segment is a steadily expanding opportunity for several multinational firms and many local manufacturers, in both developed states and emerging markets. We are observing more sophisticated marketing campaigns that aim to exploit the trend of sales channel liberalisation. However, the sector is at risk from a lack of innovation, with growth driven by increased volume sales, rather than margins.
Marketing And Advertising: Advanced commercialisation activities by manufacturers of OTC medicines are becoming more common. This trend is being driven by increased penetration of multinational firms into emerging and frontier markets. The internet is also regarded as a key medium for promotional efforts, as well as an additional sales channel. As a result, a number of OTC brands are becoming truly global in their reach.
Markets in trend alignment: Nigeria, Australia, China, Hong Kong, Malaysia, South Korea, Croatia, Kazakhstan, Latvia, Lithuania, Moldova, Romania, Russia, Slovenia, Sweden, Turkey, Uzbekistan, Brazil, Chile and Colombia.