New Healthcare research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/05/2014 -- The ongoing difficult economic situation in Portugal and consistent declines in consumer expenditure had a negative influence on sales of analgesics during the second half of the review period and resulted in declines being recorded in the category during 2011 and 2012. However, the situation eased slightly in 2013 as the current value decline recorded in analgesics in 2013 was marginal. While many Portuguese consumers continue to seek cost savings when purchasing analgesics and volume sales in some analgesics categories continued to fall as consumers returned to using reimbursed products instead of OTC products in some categories, declines in the category during 2013 were merely marginal. There is still keen interest in self-medication in Portugal as time constraints mean that many consumers are prepared to treat their own minor ailments and complaints themselves rather than visiting doctors or other healthcare professionals. Analgesics are among the most used and most prevalent of all OTC products in Portugal and during 2013 analgesics was the second largest OTC category, accounting for 22% of overall OTC retail value sales.
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Novartis Farma - Produtos Farmaceuticos SA remained the leading company in analgesics in Portugal in 2013 with a 12% value share. The company maintains a strong portfolio of brands in Portugal, including the leading brands Voltaren and Parsel. Bayer Portugal SA was the second ranked company in analgesics in Portugal during 2013, with a 10% value share thanks to its Aspirina and Asprina C brands. However, each of these two leading companies lost value share in 2013, mainly to the benefit of generic OTC analgesics.
Analgesics in Portugal is expected to continue developing further during the forecast period, with demand in the category likely to be driven mainly by the increasingly stressful lifestyles being led by the majority of Portuguese consumers and the fact that new product developments are offering consumers more advanced formulas and are targeting the treatment of various types of pain. Spending on mass media campaigns and promotions among the leading players in the category are likely to increase as a result, a factor which is likely to help to attract new consumers to the category during the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Analgesics industry in Portugal with research from Euromonitor's team of in-country analysts.
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