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Canada analgesics market forecast to increase by 3% CAGR during 2014 to 2019

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PR-Inside.com: 2014-04-30 00:16:02
The pain symptoms associated with ageing, the continued rapid growth of naproxen, consumers´ desire for safer and less invasive pain relief and healthy lifestyles fuelled the growth of analgesics in 2013.

Pfizer (Wyeth Consumer Healthcare), which owns Advil (ibuprofen) and Robaxacet; McNeil Consumer Healthcare, which owns Tylenol (acetaminophen) and Benylin; and Bayer, which owns Aspirin and Aleve (naproxen) accounted for a combined 67% of value sales. Their flagship brands have typically accounted for more than half of sales in their respective categories over the years, and have an established customer base and brand recognition.

Systemic analgesics is anticipated to see a constant value CAGR of 3% and topical analgesics/anaesthetic a CAGR of 3% in the next five years. Despite the generally recognised drawbacks of systemic analgesics, they have been an integral part of Canadian consumers´ medical boxes for a very long time, and the growing older demographic, and other factors, such as the prevalence of diabetes, will provide fuel for further growth. However, growth in this category may be overshadowed by that of topical analgesics/anaesthetic. In this category, apart from Voltaren, most innovations are limited, in that the basic formulation (mostly menthol) and formats are pretty much the same. Many in the industry agree that this category has a window of opportunity and further room for growth, and true innovation will also be a facilitating factor.

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Mike King
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