It is estimated that the UK pharmaceutical market grew by 10.5% in 2004, to a value of £12.32bn. The UK market is ranked fifth in the developed world in terms of value, just above Italy but below Fran
April 13, 2007 (Press Release) --
The Pharmaceuticals Industry Market Review 2005
It is estimated that the UK pharmaceutical market grew by 10.5% in 2004, to a value of £12.32bn. The UK market is ranked fifth in the developed world in terms of value, just above Italy but below France.
The market is composed of two major sectors: prescription-only medicines and over-the-counter (OTC) pharmaceuticals. Prescription-only medicines, the larger sector by far, are highly regulated and controlled. They are only available via a prescription from a qualified healthcare professional and can only be dispensed by a registered pharmacist operating on licensed premises. Pharmaceutical companies are not permitted to advertise these products directly to consumers, and there are strict rules on their promotion to healthcare professionals. Although pharmaceuticals are supplied to the private healthcare sector, the biggest customer by far in the UK is the NHS, which uses its immense buying power to negotiate regular discounts.
OTC pharmaceuticals are available to the public without a prescription and through a range of outlets, although some products can only be sold under the supervision of a pharmacist. The Government has been actively fostering the OTC market for a number of years and new areas are being opened up. However, it has been difficult for self-medication to achieve its full potential in a market where around half the population is exempt from prescription charges. In addition, the market has become increasingly price-sensitive following the entry of supermarkets and the abolition of Resale Price Maintenance (RPM). Annual growth can be significantly affected by product launches accompanied by sizeable advertising campaigns.
It is estimated that the UK pharmaceutical market grew by 10.5% in 2004, to a value of £12.32bn. The UK market is ranked fifth in the developed world in terms of value, just above Italy but below France.
The market is composed of two major sectors: prescription-only medicines and over-the-counter (OTC) pharmaceuticals. Prescription-only medicines, the larger sector by far, are highly regulated and controlled. They are only available via a prescription from a qualified healthcare professional and can only be dispensed by a registered pharmacist operating on licensed premises. Pharmaceutical companies are not permitted to advertise these products directly to consumers, and there are strict rules on their promotion to healthcare professionals. Although pharmaceuticals are supplied to the private healthcare sector, the biggest customer by far in the UK is the NHS, which uses its immense buying power to negotiate regular discounts.
OTC pharmaceuticals are available to the public without a prescription and through a range of outlets, although some products can only be sold under the supervision of a pharmacist. The Government has been actively fostering the OTC market for a number of years and new areas are being opened up. However, it has been difficult for self-medication to achieve its full potential in a market where around half the population is exempt from prescription charges. In addition, the market has become increasingly price-sensitive following the entry of supermarkets and the abolition of Resale Price Maintenance (RPM). Annual growth can be significantly affected by product launches accompanied by sizeable advertising campaigns.
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