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The years 2008 and 2009 have posed considerable challenges for branded OTC marketers caused by global recession, price-conscious consumers, and strong competition from private labels. However, Rx-to-OTC switch remains a strong prospect for future growth of the industry.
An FDA advisory committee is weighing in on the safety of OTC acetaminophen, the key active ingredient found in many OTC pain relievers, sleeping aids, and cough and cold medications. The proposed regulations suggest either cutting down dosages of acetaminophen or completely pulling combination drugs that contain acetaminophen off the shelves.
Omega-3 represents one of the fastest growing segments in the food ingredients industry, both in the finished food product area and supplement industry. As marketing and promotion drives consumer sales, the ingredient suppliers are also doing there bit to maintain the dynamism of this sector, continuing to shape the finished product industry.
The natural personal care market in the U.S. jumped 19% to $2 billion in sales for 2008, Kline’s Natural Personal Care 2008 study revealed earlier this year. Major marketers are in an excellent position to leverage the naturals proposition that began with the smaller niche players. Manufacturing economies of scale, a stronger position for negotiating
As we emerge from the global recession of 2008 and 2009, marketers of major OTC brands must be careful to continue to invest in innovations to bring new and improved OTCs to market. Several categories were hard hit by private-label competition as consumers were willing to trade down to less costly store brands during tough economic times. However, market share and sales for branded OTCs can be insulated from private-label competition by offering innovations such as fast-acting, fewer doses, improved drug delivery forms, faster healing times…
Private-label OTC medicines were up 8.2% over the same time period, within which antacids and allergy medicines posted the highest growth last year, driven primarily by increases in sales of private-label omeprazole (Procter & Gambles Prilosec OTC) and cetirizine (Johnson & Johnsons Zyrtec). The following two areas distinctively posted very high growth mainly as a
