Consumer health sees moderate growth in 2012
The local consumer health market continued to see moderate growth in 2012 supported by the better economic performance and manufacturers’ investment in advertising. Both OTC and vitamins and dietary supplements reported a slight drop in sales compared to 2011. Even though Filipinos continue to self-medicate, OTC growth has been hampered by the deceleration of categories, such as eye care, ear care, and analgesics. On the other hand, sales of vitamins and dietary supplements also declined due to the popularity of lower-priced brands and competition from health and wellness products.
Filipinos evolve to become more health conscious
Local consumers are becoming more conscious about their health as evidenced by their preference for herbal/traditional products, investment in preventive medication, and participation in sports activities, such as running and cycling. Plant-based products are gaining significant popularity as they are considered a safer alternative to synthetic brands. Consumption of vitamins and dietary supplements is also boosted by Filipino consumers’ preference for preventive medication and a belief in “beauty from within.” Lastly, Filipinos are becoming more concerned about living an active lifestyle, which is also generating demand for sports nutrition and vitamins and dietary supplements.
United Laboratories strengthens its foothold in the market
Local stalwart United Laboratories remained the outright leader in the local consumer landscape. This company cornered one-third of consumer health retail value sales battling head-on with multinationals and other large players. United Laboratories also made further gains in 2012 by continuing to be aggressive in advertising and launching innovative new products and line extensions. The company’s brands, such as Alaxan, Biogesic, Medicol, Diatabs, Solmux and Ceelin, enjoy very strong brand equity among consumers due to their long standing presence in the country.
Parapharmacies/drugstores remains the major channel for consumer health
Consumer health distribution is mainly undertaken by parapharmacies/drugstores, which accounted for 40% of total retail value sales in 2012. Parapharmacies/drugstores is an important channel in both rural and urban areas carrying mostly OTC and some vitamins and dietary supplements. Filipinos buy more from these channels as chained brands, such as Watsons, Mercury Self-Serve and other independents expand their outlet networks to cover untapped areas.
Consumer health to see positive growth in medium term
The consumer health industry is expected to see better performance in the medium term. It is projected that sales CAGR will reach over 2% which is a recovery from review period. Vitamins and dietary supplements will continue to surpass OTC. Filipino consumers will be encouraged to purchase vitamins and dietary supplement products with the hope of improving their overall health, boost immune system, and enhance their physical appearance. On the other hand OTC will also see a recovery from the previous historic decline in market size. Large categories like cough, cold, and allergy (hay fever) remedies, digestive remedies, and analgesics will see moderate growth.
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The Consumer Health in Philippines market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
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Our market research reports answer questions such as:
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- What are the main trends in OTC Healthcare?
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This industry report originates from Passport, our Consumer Health market research database.