Market Trends of Germany OTC Drug Industry
This section covers the major market trends shaping the Germany OTC Drug Market according to our research experts:
The 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. Furthermore, the recent COVID-19 pandemic has created a huge demand for over-the-counter (OTC) drugs to treat common COVID-19 symptoms like flu, cold, and cough. Though none of the OTC drugs were found to treat the viral infection, they did provide relief from the infection's common symptoms.
Moreover, according to the study titled "Epidemiology and direct healthcare costs of influenza-associated hospitalizations – nationwide inpatient data (Germany 2010-2019)" published in the BMC Open Journal in January 2022, between January 2010 and December 2019, 156,097 people were admitted to hospitals with laboratory-confirmed influenza. In 2013 and 2015-2019, the annual cumulative incidence was particularly high (12.6 to 60.3 hospitalizations per 100,000 people). As a result, consumers are increasingly reliant on over-the-counter cough and cold medicines as the first line of defense when seeking quick relief from symptoms.
Likewise, Germany was struggling with a wave of winter flu cases in February 2020, with around 80,000 cases reported. According to Germany's federal disease control agency, about half of these cases were confirmed within two weeks. As per a study published by Berlin's Robert Koch Institute (RKI), 130 people have died as a result of the flu this season, with another 13,300 being hospitalized. Since the autumn, a total of 79,263 cases have been reported. During the severe flu outbreak in the winter of 2017-2018, the RKI estimated that 10 million visits to doctors in Germany were caused by the flu.
Thus, owing to the increasing prevalence of flu, colds, and coughs among the Germans, the segment is anticipated to grow over the forecast period.
