Countries covered: United States
In this report, the OTC dermatological products market is
defined as nonprescription, medicated, FDA-approved products
that are designed and labeled for the treatment of specific
dermatological conditions. Revenues in this market are expected
to reach $2.53 billion in 2003.
Great opportunities exist in this market for both brand
and generic products. Self-treatment in the United States is
increasing in popularity due to the convenience of the self-treatment
alternatives. The rising cost of receiving professional
care also continues to fuel the OTC medicated products market.
The main market competitors include large
pharmaceutical companies, small pharmaceutical companies,
and generic manufacturers. In most markets, competition is
three tiered with few large companies occupying a large market
share. The major competitive challenge for existing companies is
to maintain market share.
Companies compete in a low margin market with
continuing price pressures from competing generic firms.
Marketing and advertisement has to be rationed carefully to
improve product standing without spending too much money on
promotion.
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