Abstract
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Product coverage
Adult mouth care; Allergy care; Analgesics; Calming and sleeping products;
Child-specific OTC healthcare; Cough; cold and allergy (hay fever) remedies;
Digestive remedies; Ear care; Emergency contraception; Eye care; Medicated
skin care; NRT Smoking cessation aids; OTC obesity; OTC statins; OTC triptans;
Vitamins and dietary supplements; Wound treatments
Executive summary
2008 growth similar to the average for the review period
The OTC healthcare market in 2008 recorded growth that was similar to the
average for the review period. While in more mature ranges such as analgesics
and wound treatments, volume growth slowed, value growth for the market was
still quite strong as high inflation had an effect on prices. Several less
developed sectors, such as vitamins and dietary supplements and nicotine
replacement products continued to see dynamic, double-digit growth.
Anti-smoking policies lead to growth in NRT smoking cessation aids
Nicotine replacement therapy continued to outpace other sectors as it has in
recent years. The government has taken a hard stance against smoking,
requiring strong labelling about the dangers of smoking and severely
restricting the locations where people are allowed to smoke. Therefore, more
Chileans have shown an interest in stopping smoking with nicotine replacement
therapies proving a popular method.
Arcor and Laboratorio Chile contend for the lead
The OTC market was characterised by a wide number of participants, many of
which are niche players with a presence in a limited number of sectors. The
most important pharmaceutical company was Laboratorio Chile, which, by
contrast, was present in most sectors of the OTC healthcare industry with
well-recognised brands as well as generic products. Due to the popularity of
medicated confectionery, packaged food company Arcor SAIC Unidal Chile took
over the lead from Laboratorio Chile in 2008.
Pharmacies/drugstores maintain its stranglehold in distribution
Since most products in OTC healthcare are only permitted to be sold in
pharmacies and drugstores, these outlets accounted for a substantial
percentage of sales. While chemists/parapharmacies had been losing ground to
parapharmacies/drugstores in recent years, this trend stopped, with the
breakout between the two formats remaining roughly the same. According to some
industry sources, after years of investing heavily in drugstore format stores,
which sell a wide variety of other products such as food and cosmetics, they
are starting to develop more outlets that focus on selling medications, as
these are smaller and less expensive to operate.
The economy is expected to affect the market over the forecast period
The global financial crisis is beginning to have an effect on the Chilean
market. OTC medications are a necessity for many people, especially those who
suffer from chronic conditions such as allergies, therefore the impact is
likely to be somewhat less severe than in other areas of the economy, such as
durable goods. Nevertheless, consumers concerned about their financial
situation are expected to be quite price sensitive in the next few years and
look for ways to save money, such as stocking up during sales or buying
generic products. By 2011, the economic climate is expected to pick up again
and prospects for OTC healthcare sales will be brighter.
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