Annual OTC Medications Market Overview - International - 2014
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This global annual market overview will provide you with an in-depth review of the key issues in the global OTC medications market through 2013 as well as our forecast for what will happen in 2014 and beyond.
The global OTC market is estimated to be worth about US$101 billion in 2013, showing an increase of 5% over 2012. Mature markets such as the US and most of Europe have shown slow, low single-digit growth reflecting consumers’ growing acceptance of cheaper alternatives such as private labels and generics, resulting from the combination of product recalls and the global economic crisis.
The US is the largest OTC market, and is almost twice the size of its nearest competitor, China. In per capita terms, however, Canadians take top spot for the highest spend on OTC medicines. Market growth in 2013 was boosted by strong performances in emerging markets, including those in Asia, Latin America and Central and Eastern Europe, where increasing purchasing power coupled with growing health awareness has led to strong growth in countries such as Vietnam, China and Mexico.
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