Market Trends of Germany OTC Drug Industry
Cough, Cold, and Flu Products Segment is Expected to Garner a Significant Share in the Market Over the Forecast Period
The rise in the number of people affected by cough, cold, and flu, especially among the elderly population, is driving the demand for over-the-counter (OTC) drugs for this segment. The elderly patients' shifting preference toward OTC drugs to treat common diseases such as colds and flu owing to their ready availability at pharmacies without a doctor's prescription is likely to have a positive impact on the segment's growth.
According to the report published by the Robert Koch Institute (RKI) in October 2022, more than 2,100 cases of influenza were reported in a week and a total of around 8,330 since the start of the season in October. In addition, a large number of reports came from Bavaria and North Rhine-Westphalia. This showed the high burden of influenza cases, which causes the common cold. It was expected to increase the demand for its management using OTC medicines and likely boost the market over the study period.
The increasing awareness of OTC drugs through campaigns and easy access to these medicines is expected to drive the segment growth over the study period. For instance, in April 2022, STADA bundled its over-the-counter generic products in a uniform blue design and supported pharmacies with comprehensive services for advice, placement, and regional strengthening of sales. A new campaign was developed with the slogan “STADA is always there” to make a wide range of over-the-counter consumer health products, which include cold medicines. These campaigns help to increase the effective use of cold, cough, and flu drugs, which will likely propel the segment growth over the forecast period.
Online Pharmacies Segment is Expected to Register High CAGR in the Market Over the Forecast Period
A pharmacy that uses the Internet to conduct business and delivers orders to consumers via mail, shipping services, or an online pharmacy web portal is known as an online pharmacy, internet pharmacy, or mail-order pharmacy. In addition, the growing elderly population is expected to increase the usage of E-pharmacy services, which reduces the burden of traveling to retail pharmacies and drives the market to grow. Furthermore, due to the new initiatives of the government in E-pharmacies, the market is expected to have significant growth over the forecast period.
For instance, in September 2022, the Federal Ministry of Health Germany stated that pharmacies throughout Germany have been able to redeem e-prescriptions and settle accounts with health insurance companies. In addition, if non-prescription medicines are prescribed for self-payers with statutory health insurance, this corresponds to a green prescription. Hence, pharmacy-only medicines can also be procured by using green prescriptions, which are expected to boost the growth of the segment over the study period.
Furthermore, the company's strategic activities, like acquisitions and collaborations, are expected to drive market growth in the country. For instance, in February 2022, DOUGLAS acquired the Dutch online pharmacy disapo.de to enter the high-growth online pharmacy market. The launch was planned initially in Germany with over-the-counter (OTC) medicines. Hence, the new company's strategic activities increase the widespread distribution of products in the country and are expected to propel the segment growth over the forecast period.
