OTC pharma market expected to grow at CAGR of 6.6% in 2013-2016 [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) The Polish OTC pharmaceuticals market will probably grow at a CAGR of 6.6% in 2013-2016, according to the forecasts of research firm PMR. In 2012, the market's value barely changed y/y and amounted to PLN 8.93bn, while this year, an 11% growth if projected.
PMR attributes this year's high expected growth to the low 2012 base and a large number of infections. Also, the introduction of new products and higher prices should again have an impact on the market. The firm expects the trend of pharmacies' focusing on PTC medicines rather than on Rx drugs to be continued.
Also, retailers are thought to be more interested in OTC medicines and diet supplements, which should contribute to this market's higher growth than in the case of the pharmacy market.
Additionally, the government announce that it will retain elevated VAT rates by the end of 2016 instead of by the end of 2013 (in the case of medicines, the VAT rate is 8%). PMR notes that this will also contribute to higher dynamics of the OTC market in these years.
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