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Follow on Google News | OTC Healthcare in the New ZealandOTC Healthcare in New Zealand report offers a comprehensive guide to the size and shape of the market at a national level.
By: Bharat Book Bureau 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 mouthcare; Allergy care; Analgesics; Calming and sleeping products; Child-specific OTC healthcare; Cough; cold and allergy (hay fever) remedies; Digestive remedies; Ear care; Emergency contraception; Executive summary 1. EXECUTIVE SUMMARY Growth continued in 2005 OTC healthcare in New Zealand continued its upward trend in 2005 boosted by the strong showing of newly switched OTC obesity treatments and the strong comeback of vitamin and dietary supplements following the Pan Pharmaceutical issue, which had devastating effects since 2003. Furthermore, increased level of consumer confidence in self-medication and widening distribution of OTC healthcare products were the key drivers of the growth achieved in 2005. As the country still enjoys economic prosperity with high levels of household income and lower unemployment, major players focused their efforts on the development of added-value products in fast acting and easy-to-administer formats suited to different lifestyle and life stage needs, thereby encouraging consumers to trade up for premium products. Regulations impact OTC Healthcare During 2005, the ease of regulations had a conducive impact on the development of OTC healthcare in New Zealand. While the restrictions on medicines containing pseudoephedrine based cough, cold treatments and decongestants eased, the rescheduling of phenylephrine based cough expectorants and oral decongestants to general sales created a more favourable trading environment for sales of cough, cold treatments and decongestants in the grocery channel. The switching of OTC obesity treatment, Orlistat, to pharmacy sales in 2005 helped boost OTC healthcare sales due to its most dynamic growth during the review period, while a smoking ban in public places including bars, cafes, and restaurants also helped to extend the growth phase of product life cycle of NRT smoking cessation aids. Another important change to the legislations was the much-awaited partial deregulation allowing non-pharmacy professionals to increase their ownership stake in pharmacies. OTC healthcare set to become more consolidated OTC healthcare in New Zealand is considered to be highly fragmented and dominated by international pharmaceutical companies. Pfizer New Zealand Ltd was the leading company in 2005. OTC healthcare is shifting towards consolidation. The most significant developments were the acquisition by Bayer New Zealand of Roche Consumer Health NZ in 2004, and Boots Healthcare New Zealand Ltd’s intention to sell its consumer health business to Reckitt Benckiser New Zealand Ltd. Among the other leading multinational players, GlaxoSmithKline New Zealand Ltd ranked the third most dominant player, while the local company Healtheries of New Zealand Ltd led the growth of vitamins and dietary supplements. Retail distribution led by the pharmacy monopoly In New Zealand, chemists/pharmacies were the leading retail distributors of OTC healthcare products due to the statutory restrictions. Although, chemists/pharmacies lost some shares from analgesics, cough, cold and allergy remedies, eye care, vitamin and dietary supplements to the rival grocery channel comprised of supermarkets and hypermarkets, the former benefited from the recent rescheduling of OTC obesity sold under the pharmacists’ Accelerated growth over the forecast period In spite of economic downturn, OTC healthcare in New Zealand is expected to pick up over the forecast period. The accelerated growth is mainly due to new switches, rising consumer confidence towards self-medication and widening retail distribution of OTC healthcare products. Furthermore, high brand awareness as well as rising consumer awareness of the health risks associated with obesity will result in OTC obesity achieving the most dynamic sales niche within OTC healthcare during the forecast period. For more information, Please visit : http://www.bharatbook.com/ Website: www.bharatbook.com End
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