$3.6 Billion Private Label OTC Drugs Eating Away At Brand Name Share
March 13, 2006 (PRLEAP.COM) Health News
New York, March 13, 2006— Buoyed by growing sales in the cough-cold-allergy-sinus, first-aid, and anti-smoking sectors, the market for private label over-the-counter drugs is expected to reach $3.6 billion by 2010, according to a new study from Kalorama Information, a division of MarketResearch.com, a leading provider of industry-specific market research reports. With the market having shed its image of selling second-rate, “me-too” versions of national brands, The U.S. Market for Private Label Over-the-Counter Healthcare Products predicts that the wide-reaching appeal of lower cost, better packaging and promotion, and innovative delivery systems has caught on with consumers, as private label brands ate up 19.7% of the OTC market share in 2004, with sales topping $3.4 billion in 2005.
Not surprisingly, growth opportunities opened up for private label analgesics in the wake of the COX-2 inhibitor scandal that rocked the nation in 2005. As consumers switched back to safer OTC pain-relievers, they also went for the big savings associated with private label brands.
“Private label OTC’s have moved into their niche by providing high-visibility products that often go beyond name brand offerings,” notes Steven Heffner, publisher at Kalorama Information. “There’s actually a new trend in the foot care sector where, for the first time, retailers are completely replacing national brands with their own in-store brands, as sales of the latter are far outpacing their national brand counterparts.”
The study examines seven broad categories of products which also include gastrointestinal, eye/lens care, foot care, family planning, sleeping aids and miscellaneous remedies, such as wart removers, chest rubs, ear care, and bedwetting remedies. It details market size and growth through 2010, presenting competitive market share, and providing a thorough understanding of the environment in which private label manufacturers operate.
The U.S. Market for Private Label Over-the-Counter Healthcare Products details consumer demographics and attitudes toward private label products, reports ad spend and new product introductions by the various retailers, and discusses the trends and issues shaping the private label market of the future. It can be purchased directly from Kalorama Information by clicking http://www.kaloramainformation.com/pub/1190895.html. It is also available at MarketResearch.com.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent market research for the life sciences. For more information, contact Tom Ehart at 240-747-3014 or tehart@marketresearch.com, or visit www.KaloramaInformation.com.