The 2017 cold and flu season is almost upon us again…in South Africa, seasonal flu tends to be very common, and usually lasts from April to August. With the rise of the antibiotic-resistant “superbug” and more aggressive strains of the influenza virus, OTC Cold and Flu Remedies will again be on the rise during this period!
Insight Survey’s latest SA Cold and Flu Industry Landscape Report 2017 carefully unfolds the local Cold and Flu Remedy markets. With the latest information and research, it discusses the global and local industry trends and challenges while also providing detailed insights into the major players and brands in the local market, including old favourites such as Vicks and newer natural products such as Echinaforce.
The global market for OTC products is expected to grow at a compound annual growth rate of 10.6% up to 2021. This increase within the OTC market is said to be driven by economic and demographic trends (e.g. lower costs of OTC meds) and the shifts in cultural attitudes towards self-medication. According to research by Pfizer, 81% of adults use OTC medicines as a first response to minor ailments like colds and flus. In the USA, for example, almost 20% of OTC and natural supplements sold in 2016 were medication for cough, cold, allergy or sinus.
In South Africa, unscheduled over-the-counter (OTC) medicines, i.e. those that do not require a prescription, experienced the fastest unit sales growth at 5% in 2016. Among the top-selling generic medicines in this category are those aimed at pain- and fever relief, as well as OTC cold preparations. Furthermore, the Cold and Flu Remedy industry is set to increase at a constant value compound annual growth rate of 8%.
As with any other sector in our country, it is estimated that a multitude of factors are set to impact the Cold and Flu market in 2017. One such aspect is greater proactivity: consumers are increasingly researching symptoms online and making use of self-medication, as well as using natural remedies as part of South Africans’ ever-increasing focus on more healthy lifestyles.
Another important factor could be the economic pressures that South Africans are currently facing: self-medication with OTC or generic medicines are alternatives to the high cost of medical care. Instead of paying consultation fees, patients would prefer to purchase self-medication or make use of the advice of pharmacists for less serious illnesses.
Just based on the few examples above, our local Cold and Flu market tends to be impacted by factors very much in line with those influencing the global market.
The SA Cold and Flu Industry Landscape Report (105 pages) provides a dynamic synthesis of industry research, examining the local and global Cold and Flu industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing through to retailing, including pricing and promotions analysis, and consumption trends.
Some key questions the report will help you to answer:
- What are the current market dynamics of the global Cold and Flu industry?
- What are the SA Cold and Flu industry trends, drivers and restraints?
- Who are the key manufacturers and retail players in the SA Cold and Flu industry?
- What are the prices of popular Cold and Flu brands at pharmacies and supermarkets in SA?
- What are the consumption trends for cough, colds and flu?
Please note that the 105-page PowerPoint report is available for purchase for R25,000 (excluding VAT). Alternatively, individual sections can be purchased for R9,000 (excluding VAT). For additional information simply contact us at email@example.com or directly on (021) 045-0202.
For a full brochure please go to: South African Cold and Flu Landscape Report 2017
About Insight Survey:
Insight Survey is a South African B2B market research company with more than 10 years of heritage, focusing on business-to business (B2B) market research to ensure smarter, more-profitable business decisions are made with reduced investment risk.
We offer B2B market research solutions to help you to successfully improve or expand your business, enter new markets, launch new products or better understand your internal or external environment.
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For more information, go to www.insightsurvey.co.za