OTC Healthcare in South Korea
Euromonitor International's OTC Healthcare in South Korea market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
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Tables: 96 | Publication date: Feb 2008
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; Eye care; Medicated skin care; NRT Smoking cessation aids; OTC obesity; OTC statins; OTC triptans; Vitamins and dietary supplements; Wound treatments
Executive summary
Slowdown in 2006
Sales growth in the OTC healthcare industry slowed significantly in 2006. Growth was constrained mainly by increasing maturation of some product categories and a poor performance of vitamins. After it was reported that most drinking vitamin C products contain excessive benzene levels, sales of this range dramatically declined leading to negative sales value growth over 2005. While many product groups within OTC healthcare recorded a similar or better performance than the previous year, the decline in sales of vitamins led to slower growth of the overall OTC healthcare industry in 2006.
Increasing health concerns drive sales growth
In 2006, growing concerns about health and wellbeing among consumers continued to be the major growth drivers for many product groups within the OTC healthcare industry. Preventive medicines such as dietary supplements, NRT smoking cessation aids and aspirin posted healthy sales growth as a result of this trend. In the case of dietary supplements, products became significantly diversified in terms of product types, benefits and prices to satisfy the demand of various consumer groups. Product availability also improved noticeably in the many retail distribution channels, which contributed to the positive sales growth.
Vitamins and dietary supplements remains the largest product group
Despite the sales decline of vitamins, vitamins and dietary supplements remained the largest product group within OTC healthcare in 2006. While many types of OTC medicines are suffering from maturing demand, demand for vitamins and dietary supplements increased, boosted by the wellbeing trend in they country. Over the review period products were diversified extensively due to a number of new entries as well as new product launches from existing players. In 2006, companies continued to introduce various new products and competition grew substantially in vitamins and dietary supplements.
Rapid growth of Rx industry hinders the growth of OTC
Faster sales growth of Rx medicines continued to hinder the development of most OTC medicines over the review period. Consequently, the share of Rx sales has become much larger than OTC. After the medical reform in 2000, pharmaceutical companies have focused more on the Rx industry, strengthening marketing activities to hospitals and doctors. At the same time, the OTC industry has become less attractive to pharmaceutical companies due to significant marketing costs and stagnant consumer demand. As a result, there were fewer new product launches in OTC medicines and consumer marketing activities were limited to some leading brands in the OTC healthcare industry. Moreover, consumers now increasingly prefer to consult doctors even for minor ailments for re-imbursement from insurance and consumer confidence in self-medication is now even lower than it has been in the past.
Moderate forecast value growth is expected
Over the forecast period, sales of OTC healthcare are expected to post moderate value growth. Although significant volume growth is not expected in many of the more mature product groups, a gradual unit price rise and noticeable growth of some, such as analgesics, vitamins and dietary supplements, NRT smoking cessation aids and wound treatments will lead to positive value growth of the total OTC healthcare industry in the forecast period.
Table of contents
OTC HEALTHCARE IN SOUTH KOREA : MARKET INSIGHT
EXECUTIVE SUMMARY
Slowdown in 2006
Increasing health concerns drive sales growth
Vitamins and dietary supplements remains the largest product group
Rapid growth of Rx industry hinders the growth of OTC
Moderate forecast value growth is expected
KEY TREND AND DEVELOPMENTS
Rx continues to record faster growth than OTC
Wellbeing trend leads to positive sales growth of OTC healthcare
Established brands consolidate their positions
Declining birth rate affects demand for child-specific OTC healthcare
Growing importance of retail grocery channels
Growing number of entries leads to fragmentation
MARKET INDICATORS
Table 1 Life Expectancy at Birth 2001-2006
MARKET DATA
Table 2 Sales of OTC Healthcare by Sector: Value 2001-2006
Table 3 Sales of OTC Healthcare by Sector: % Value Growth 2001-2006
Table 4 OTC Healthcare Company Shares by Retail Value 2002-2006
Table 5 OTC Healthcare Brand Shares by Retail Value 2003-2006
Table 6 Sales of OTC Healthcare by Distribution Format: % Analysis 2001/2006
Table 7 Sales of OTC Healthcare by Sector and Distribution Format: % Analysis 2006
Table 8 Forecast Sales of OTC Healthcare by Sector: Value 2006-2011
Table 9 Forecast Sales of OTC Healthcare by Sector: % Value Growth 2006-2011
APPENDIX
OTC Registration and Classification
Vitamins & Dietary Supplements Registration and Classification
Generics
Consumer Expenditure on Health Goods and Medical Services
Table 10 Consumer Expenditure on Health Goods and Medical Services 2001-2006
DEFINITIONS
Sources
Summary 1 Research Sources
LOCAL COMPANY PROFILES - SOUTH KOREA
DAEWOONG PHARMACEUTICAL CO LTD - OTC HEALTHCARE - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Daewoong Pharmaceutical Co Ltd: Key Facts
Summary 3 Daewoong Pharmaceutical Co Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 4 Daewoong Pharmaceutical Co Ltd: Production Statistics
COMPETITIVE POSITIONING
Summary 5 Daewoong Pharmaceutical Co Ltd: Competitive Position 2006
DONG WHA PHARMACEUTICAL INDUSTRIAL CO LTD - OTC HEALTHCARE - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 6 Dong Wha Pharmaceutical Ind. Co Ltd: Key Facts
Summary 7 Dong Wha Pharmaceutical Ind. Co Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 8 Dong Wha Pharmaceutical Ind. Co Ltd: Production Statistics
COMPETITIVE POSITIONING
Summary 9 Dong Wha Pharmaceutical Ind. Co Ltd: Competitive Position 2006
DONG-A PHARMACEUTICAL CO LTD - OTC HEALTHCARE - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 10 Dong-A Pharmaceutical Co Ltd: Key Facts
Summary 11 Dong-A Pharmaceutical Co Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 12 Dong-A Pharmaceutical Co Ltd: Production Statistics
COMPETITIVE POSITIONING
Summary 13 Dong-A Pharmaceutical Co Ltd: Competitive Position 2006
KOREA GINSENG CORP - OTC HEALTHCARE - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 14 Korea Ginseng Corp: Key Facts
Summary 15 Korea Ginseng Corp: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 16 Korea Ginseng Corp: Production Statistics
COMPETITIVE POSITIONING
Summary 17 Korea Ginseng Corp: Competitive Position 2006
SK CHEMICALS CO LTD - OTC HEALTHCARE - SOUTH KOREA
STRATEGIC DIRECTION
KEY FACTS
Summary 18 SK Chemicals Co Ltd: Key Facts
Summary 19 SK Chemicals: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 20 SK Chemicals Co Ltd: Production Statistics
COMPETITIVE POSITIONING
Summary 21 SK Chemicals Co Ltd: Competitive Position 2006
ANALGESICS IN SOUTH KOREA
HEADLINES
TREND
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 11 Sales of Analgesics by Subsector: Value 2001-2006
Table 12 Sales of Analgesics by Subsector: % Value Growth 2001-2006
Table 13 Herbal vs Standard Topical Analgesics 2001/2006
Table 14 Analgesics Company Shares by Retail Value 2002-2006
Table 15 Analgesics Brand Shares by Retail Value 2003-2006
Table 16 Forecast Sales of Analgesics by Subsector: Value 2006-2011
Table 17 Forecast Sales of Analgesics by Subsector: % Value Growth 2006-2011
COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN SOUTH KOREA
HEADLINES
TREND
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 18 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: Value 2001-2006
Table 19 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: % Value Growth 2001-2006
Table 20 Sales of Decongestants by Type: Value 2001-2006
Table 21 Sales of Decongestants by Type: % Value Growth 2001-2006
Table 22 Sales of Child-specific Cough, Cold and Allergy (Hay Fever) Remedies by Type: Value 2001-2006
Table 23 Sales of Child-specific Cough, Cold and Allergy (Hay Fever) Remedies by Type: % Value Growth 2001-2006
Table 24 Herbal vs Standard Cough, Cold and Allergy (Hay Fever) Remedies 2001/2006
Table 25 Cough, Cold and Allergy (Hay Fever) Remedies Company Shares by Retail Value 2002-2006
Table 26 Cough, Cold and Allergy (Hay Fever) Remedies Brand Shares by Retail Value 2003-2006
Table 27 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: Value 2006-2011
Table 28 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: % Value Growth 2006-2011
DIGESTIVE REMEDIES IN SOUTH KOREA
HEADLINES
TREND
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 29 Sales of Digestive Remedies by Subsector: Value 2001-2006
Table 30 Sales of Digestive Remedies by Subsector: % Value Growth 2001-2006
Table 31 Herbal vs Standard Digestive Remedies 2001/2006
Table 32 Digestive Remedies Company Shares by Retail Value 2002-2006
Table 33 Digestive Remedies Brand Shares by Retail Value 2003-2006
Table 34 Forecast Sales of Digestive Remedies by Subsector: Value 2006-2011
Table 35 Forecast Sales of Digestive Remedies by Subsector: % Value Growth 2006-2011
MEDICATED SKIN CARE IN SOUTH KOREA
HEADLINES
TREND
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 36 Sales of Medicated Skin Care by Subsector: Value 2001-2006
Table 37 Sales of Medicated Skin Care by Subsector: % Value Growth 2001-2006
Table 38 Herbal vs Standard Medicated Skin Care 2001/2006
Table 39 Medicated Skin Care Company Shares by Retail Value 2002-2006
Table 40 Medicated Skin Care Brand Shares by Retail Value 2003-2006
Table 41 Acne Treatments Brand Shares by Retail Value 2003-2006
Table 42 Hair Loss Treatments Brand Shares by Retail Value 2003-2006
Table 43 Forecast Sales of Medicated Skin Care by Subsector: Value 2006-2011
Table 44 Forecast Sales of Medicated Skin Care by Subsector: % Value Growth 2006-2011
VITAMINS AND DIETARY SUPPLEMENTS IN SOUTH KOREA
HEADLINES
TREND
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 45 Sales of Vitamins and Dietary Supplements by Subsector: Value 2001-2006
Table 46 Sales of Vitamins and Dietary Supplements by Subsector: % Value Growth 2001-2006
Table 47 Sales of Vitamins by Type: Value 2001-2006
Table 48 Sales of Vitamins by Type: % Value Growth 2001-2006
Table 49 Vitamins and Dietary Supplements Company Shares by Retail Value 2002-2006
Table 50 Vitamins and Dietary Supplements Brand Shares by Retail Value 2003-2006
Table 51 Vitamins Brand Shares by Retail Value 2003-2006
Table 52 Sales of Dietary Supplements by Type: Value 2001-2006
Table 53 Sales of Dietary Supplements by Type: % Value Growth 2001-2006
Table 54 Dietary Supplements Brand Shares by Retail Value 2003-2006
Table 55 Forecast Sales of Vitamins and Dietary Supplements by Subsector: Value 2006-2011
Table 56 Forecast Sales of Vitamins and Dietary Supplements by Subsector: % Value Growth 2006-2011
NRT SMOKING CESSATION AIDS IN SOUTH KOREA
HEADLINES
TREND
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR INDICATORS
Table 57 Number of Smokers by Gender 2001-2006
Table 58 Sales of Smoking Cessation Aids by Subsector: Value 2001-2006
Table 59 Sales of Smoking Cessation Aids by Subsector: % Value Growth 2001-2006
Table 60 Smoking Cessation Aids Company Shares by Retail Value 2002-2006
Table 61 Smoking Cessation Aids Brand Shares by Retail Value 2003-2006
Table 62 Forecast Sales of Smoking Cessation Aids by Subsector: Value 2006-2011
Table 63 Forecast Sales of Smoking Cessation Aids by Subsector: % Value Growth 2006-2011
EYE CARE IN SOUTH KOREA
HEADLINES
SECTOR DATA
Table 64 Sales of Eye Care by Subsector: Value 2001-2006
Table 65 Sales of Eye Care by Subsector: % Value Growth 2001-2006
Table 66 Eye Care Company Shares by Retail Value 2002-2006
Table 67 Eye Care Brand Shares by Retail Value 2003-2006
Table 68 Forecast Sales of Eye Care by Subsector: Value 2006-2011
Table 69 Forecast Sales of Eye Care by Subsector: % Value Growth 2006-2011
ADULT MOUTHCARE IN SOUTH KOREA
HEADLINES
CALMING AND SLEEPING PRODUCTS IN SOUTH KOREA
HEADLINES
WOUND TREATMENTS IN SOUTH KOREA
HEADLINES
SECTOR DATA
Table 70 Sales of Wound Treatments by Subsector: Value 2001-2006
Table 71 Sales of Wound Treatments by Subsector: % Value Growth 2001-2006
Table 72 Wound Treatments Company Shares by Retail Value 2002-2006
Table 73 Wound Treatments Brand Shares by Retail Value 2003-2006
Table 74 Forecast Sales of Wound Treatments by Subsector: Value 2006-2011
Table 75 Forecast Sales of Wound Treatments by Subsector: % Value Growth 2006-2011