Taiwan OTC market overview. The opportunities and challenges in OTC. Future outlook
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1 1
2 2 Taiwan OTC market overview The opportunities and challenges in OTC Future outlook
3 Taiwan OTC market overview 3
4 4 Taiwan Pharmaceutical market Taiwan pharmaceutical market is dominated by prescription drugs (Rx). Non-Rx share is only about 5%. Drug stores are the main channels for OTC drugs. (self-medication) There is about 34% OTC sold in HP & GP. Total pharmaceutical market Sales (NT$M) Share % Rx 137, OTC 8, Total 145, OTC sales by Channel OTC sales by Channel Sales (NT$M) Share % Drug Store (DS) 5, Hospital (HP) 2, Clinics (GP) Total OTC 8, Source: IMS Q4 2014
5 5 OTC market trend After NHI implementation, market share of prescription drug increases from 77% to 94.5% and market share for non-prescription drug decreases from 23% to 5.5% Source:Q IMS Pharmaceutical Market Audit, Taiwan
6 High NHI coverage, Low selfmedication 2012 BHT HK Twn SG VN OTC Penetration among C&F sufferer Source: IPSOS BHT % 39% 79% 97% Taiwan NHI (National Health Insurance) Well recognized by CNN/ New York Times/ The Economists etc. Almost 100% coverage Fixed amount by employee behind monthly deduction (certain % to salary) Co-payment fee is very low ( 3 or US$5) High frequent visit 15.6/annual in hospital/clinics (vs. US<5) Reimburse most of Rx Drug and Medical Service (OTC drug is not reimbursed) High Satisfaction 80%+ 6
7 CONSUMERS 7
8 84% of general public in Taiwan maintain regular self health care. Contrarily only 34% are willing to buy non-prescription drugs when feeling minor ailment. % Overall Self-medication Behaviors and Spending I would have nutrient supplements (such as vitamin) 56 I would have Chinese herbal medicine (such as gingsen) I would pay attention to my diet, and have healthy food Maintain self health care (84%) Average spending: NT$ per month I would see health care related doctors 17 When I feel minor ailments, I would see a doctor When I feel minor ailments, I would buy some medicine by myself Relief for minor ailment When I feel minor ailments, I would take Chinese herbal medicine 10 Average spending: NT$ per month Source: 2010 Nielsen Taiwan self-medication study
9 Dominating 69% of total population think doctor-prescribed medication is more effective and safer than non-prescription drugs sold in pharmacy, even if the drugs are government-certified. OTC and Prescription by Doctors Extremely agree (5) Somehow agree (4) % Top 2 Box Mean Doctor-prescribed drug is more effective and safer than nonprescription drug Non-prescription drug is certified by the government, so I could take it without any concern Source: 2010 Nielsen Taiwan self-medication study
10 The reality is
11 11 The opportunities and challenges in OTC
12 12 The Opportunities Consumers Increasing health conscious Aging society More active role in health care handling Government Increasing burden of healthcare expenditure Delegated project to work with stakeholders for OTC de-regulation Selfmedication Channel More modernized big chain stores Industry upgraded technology (PIC/S GMP) Diversified business portfolio
13 The Challenges Government No clear role of self-medication in health policy The health insurance scheme provides comprehensive coverage. Same regulations apply to both Rx and non-rx. Consumers Lacking of knowledge in proper self-medication being satisfied with current NHI policy (all you can eat) Selfmedication Industry Limited items/categories can be approved as OTC Restriction in communication & promotions 13 Channel Less consultation provided to consumers Very few items can be allowed for general sale
14 Future outlook 14
15 15 To Promote Self-medication Clear self-medication policy Government OTC industry Healthcare professionals Education Information Regulation Products Channels Consumer empowerment Capability When & how to use OTC Safety Tools Benefits convenience Time saving Efficacy Affordable
16 Key strategies for better OTC regulations 16 Highlight self-medication is part of national healthcare policy Switch (Rx-to-OTC / OTC-to-GSL) Registration simplifications Switch (Rx-to-OTC / OTC-to-GSL) Channel Management Consumer information Advertisement & promotion With Collaboration among Stakeholders
17 17 Collaborations among stakeholders Consumers Government Pharmacists Industry Physicians
18 Thank you 18
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