Consumer health slows down in 2013
Consumer health witnessed a slowdown in growth in 2013. Although OTC and vitamins both registered growth improvements in 2013 compared to 2012, dietary supplements recorded a decline in growth. Alongside the increase in health awareness amongst Filipinos has been a surge in patronage of dietary supplements in recent years, consequently limiting the opportunity to record a more vibrant increase in sales as the prospective consumer base reaches saturation.
Herbal/traditional product choices increase
Companies are responding to the growing preference amongst consumers for products made from natural ingredients with the launch of more herbal/traditional remedies and dietary supplements. The technical support provided by government agencies and their endorsement of herbal ingredients as having therapeutic value are amongst the factors facilitating the development of pharmaceutical products made from natural sources and their easier acceptance by consumers.
United Laboratories Inc sustains its leadership in 2013
United Laboratories Inc maintained its lead in consumer health in 2013. The company’s wide product line, which encompasses several categories, and its ability to build strong brands allowed it to maintain its prominence against its competitors. Amongst Unilab’s strengths are its continuous launch of new products and use of adequate advertising and promotions to support its new and existing brands. As such, several of its products are strongly preferred by consumers and continue to enjoy category leadership.
Distribution continues to be mainly through parapharmacies/drugstores
Parapharmacies/drugstores continued to be the main distribution channel for consumer health in 2013. The wide network of stores of leading chained drug retailers such as Mercury Drug and Watsons provide consumers easy access to their outlets, which likewise carry a comprehensive line of product and brand choices. Also, aside from OTC and vitamins and dietary supplements, their outlets carry an assortment of goods from beauty and personal care and home care to packaged food, which provides consumers with improved product choices.
Improvements expected in the forecast period
Consumer health is expected to record improvements in value growth over the forecast period compared with review period performance. Both OTC and vitamins are expected to register growth improvements amidst the increasing health consciousness amongst Filipinos, which is predicted to drive them to be more proactive in taking care of their health. The growth of dietary supplements over the forecast period, on the other hand, is predicted to record a decline compared to review period performance, reflecting the existing wide consumer base of the category which diminishes the opportunity for it to sustain the vibrant growth witnessed over the review period.
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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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This industry report originates from Passport, our Consumer Health market research database.