Swine Flu Increases OTC Medicine Sales

Market research firm, Mintel has reported that because of the outbreak of H1N1 (swine flu), people around the world are flocking to drugstores and supermarkets to stock up over-the-counter (OTC) medicines.

Diana Nhan, senior market analyst for Global Market Navigator (GNM) at Mintel, said: “The US cold, cough and throat remedy market saw a 13.4% spike in sales during 2005, when the avian flu dominated media stories. I wouldn’t be surprised to see a similar trend-busting increase in US cold, cough and throat remedy sales for 2009 and the early part of 2010.”

Mintel’s GMN predicts that the Americans will cough up a total $3.6billion on cold, cough and throat remedies this year, 1.7% more than during 2008. In Britain, people could fork over £428 million by year’s end, a 4.2% increase over 2008.

The organisation said that in total, Americans will spend more than $32 billion on OTC pharmaceuticals this year, while Britons dedicate £2.6 billion towards alleviating symptoms. The Chinese are expected to spend over ¥58 billion, while Russians bear out cold weather in the name of $3.4 billion. Mintel GMN expects all four countries to see sales increases for OTC medication in 2010.