Healthcare Industry: Central and Eastern Europe OTC Drugs Industry Research Report

Increasing per capita spending on OTC medications, widespread prevalence of untreatedcommon ailments coupled with rising consumer confidence in the ability of OTC drugs to control ailments and increased advertising by manufacturers to escalate growth.

The over-the-counter (OTC) medicines market has remained a highly attractive segment of the pharmaceutical sector with significant growth potential from both developing markets including that of Central and Eastern Europe and established Europe and North America markets. The market is anticipated to register a CAGR of 8.7% over the period 2012-2017. The industry is expected to be led by the attitude of the people to opt for several non-prescription medicines by avoiding the fees to pay to visit a doctor and maintenance of healthy life style to avoid lifestyle related disorders.

Ukraine and Bulgaria will be the most rapidly developing markets for OTC medications in Central and Eastern Europe region in the near term. The market in Russia is anticipated to be the largest contributor to the region’s market. Ukraine can be prospected as the most promising OTC drugs market in the Central and Eastern Europe region in the near term. Rapidly rising interest of the masses in self medication, hectic lifestyles and demographic changes such as increasingly stressful jobs, unbalanced nutrition, lack of exercise and ageing population are anticipated to drive the sales of OTC medications among the masses particularly within analgesics, calming and sleeping, digestive remedies, eye care, NRT smoking cessation aids and various dietary supplements in the country in the future years. The market in Poland however is expected to maintain a moderate growth rate in the next five years with its market rising at a rate of 12.9% from 2012-2017. Hungary and Slovakia are also expected to maintain stable position in Central and Eastern Europe market for OTC medications in the future years by accounting for nearly 3% and 3.5% share respectively by 2017.

According to an industry veteran, “OTC drugs market in Hungary will rise due to the increasing demand for self medication since prevention is more important than to become ill, expanding access to outside pharmacy (drogerie channels, small corner drugstores) which is a place for buying everyday low price food supplements), this category is poised to lead to further growth in the market. In addition to this, from the perspective of the pharmaceutical companies, prices are constantly decreasing on RX markets due to generic competition; and OTC is becoming more and more attractive for the pharmaceutical companies in the country”.

“The future of the OTC drugs industry in Central and Eastern Europe is expected to be favorable on account of impelling demand, increasing interest in self medication, greater access to non-prescription medicines through various distribution channels including pharmacy and non-pharmacy channels, ageing population, rising health awareness among the masses which are anticipated to drive the future of the industry in the coming years”, according to the Research Analyst, Ken Research.

The report titled “Central and Eastern Europe OTC Drugs Industry Outlook to 2017- Expanding Access to Distribution Channels to Lead Sales Growth” provides detailed overview on the Central and Eastern Europe OTC Drugs Market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, OTC drug manufacturers to align their market centric strategies according to ongoing and expected trends in the future.

For More Details Please Click On Following Link:

http://www.kenresearch.com/healthcare/pharmaceutical-industry/central-eastern-europe-otc-drugs-market-research-report/444-91.html

http://www.kenresearch.com/press/news-central-eastern-europe-otc-drugs-market/225.html

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