Sales of OTC analgesics is expected to recover slightly in 2021, with a small percentage growth in current value. While Finland remains one of the countries least affected by COVID-19, it has experienced a surge of infections in 2021.
Despite a slight improvement in current value sales in 2021, analgesics is characterised by stagnation, with consumer demand and brand preferences remaining stable, following a period of some innovation across certain products areas. The market remains dominated by brands such as Burana, Panadol and Disperin, with little noticeable innovation in terms of new market entrants or brand developments.
Orion is expected to maintain its leadership of analgesics in 2021, with Finns showing strong loyalty to its ranges. However, the player is experiencing intensifying competition.
Analgesics will register negative constant value growth over the forecast period. Sales of analgesics had begun to decline a few years prior to the outbreak of COVID-19, and the pandemic offered only a temporary reprieve.
A possible gamechanger for analgesics is that there is speculation that OTC products be liberalised within the near future. Currently, only Finnish pharmacies are permitted to sell OTC pharmaceuticals, while pharmacies can only be owned and operated by individuals possessing a minimum 5-year university education.
Analgesics is a mature product area and without liberalisation or the pressure of e-commerce to drive innovation, analgesics will gradually lose value share over the forecast period. However, with rumours of liberalisation and the threat of e-commerce looming, pharmacies and the pharmaceutical industry will possibly engage in initiatives to lock consumers into existing distribution channels and networks.
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Analgesics cover systemic and topical pain relievers. Products which include a pain-relief ingredient in addition to another core function are excluded (e.g. a sore throat remedy which includes paracetamol is excluded from the analgesics and instead is included in pharyngeal remedies).See All of Our Definitions
This report originates from Passport, our Analgesics research and analysis database.
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