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After years of the OTC industry and the Consumer Healthcare Products Association working with the FDA to pass long-overdue OTC monograph reform and regulatory modernization, long-sought-after reform is now a reality thanks to the CARES (Coronavirus Aid, Relief, and Economic Security) Act. The act, which was passed by the U.S. Congress and signed into law
Recently, the U.S. OTC market has been evolving, boosted by more prescription medications moving along the Rx-to-OTC continuum, as well as a number of changes in the market. Laura Mahecha, Industry Manager of Kline’s Healthcare Practice, reveals more about these changes in a recent interview about the trends and challenges affecting the U.S. OTC market.
Recently released data from our Nonprescription Drugs USA study shows that the U.S. nonprescription drugs industry posted moderate growth in 2014, recording revenue growth for the sixth consecutive year. Estimated at $24+ billion at the manufacturers’ level, the market climbs by 1.4% from 2013 to 2014. Out of the seven product classes we track, five
Rx-to-OTC switch brands continue to be major game changers on the OTC market, whether promoting strong gains or causing steep declines. Traditional OTC lines are delivering growth as they have expanded to meet consumer needs with the Centrum (Pfizer) and One-A-Day (Bayer) vitamin lines. Both of these lines using broad reaching marketing campaigns have had success with new product launches.
Excipients are the unsung heroes of the oral solid-dosage-form (OSDF) pharmaceutical industry. Most consumers are completely unaware of the critical role excipients play in delivering the beneficial medicines millions rely on to fight diseases and stay healthy. Yet it is the fillers, binders, disintegrants, lubricants, and coatings that ensure the accurate, timed delivery of drugs required to safely maintain optimum active ingredient levels in our system.
With average growth forecast to exceed 4% through 2015, the excipients market for OSDF is expected to keep pace with the 6% growth on the pharmaceutical horizon… (Read more…)
Over-the-counter (OTC) medicines and nutritional supplements play an increasingly vital role in America’s healthcare system. Sales continue to grow in spite of the recent recession, as customers seek cost-effective treatment options. Some OTC categories have even benefited from the economic downturn.
