Rx-to-OTC Switch: An Important Enabler of Self-Care and a Growth Engine for the OTC Market

Rx-to-OTC Switch

SUMMARY


RX-TO-OTC SWITCH: AN IMPORTANT ENABLER OF SELF-CARE AND A GROWTH ENGINE FOR THE OTC MARKET

The COVID-19 pandemic accelerated major shifts in consumer behavior, including a growing focus on self-care. Intensified over-the-counter (OTC) usage and purchasing was a notable component of this trend.

While prescription (Rx) to OTC switches have been occurring for more than 40 years, some OTC marketers still view switching as a lucrative growth engine. According to IRI data, overall OTC sales grew 5.9% in 2021, while the Rx-to-OTC switch segment increased 8.3%, accounting for 28% of OTC industry growth.

This report, a collaboration between IRI and the consulting and research firm Kline, highlights the history, current landscape and best future opportunities for Rx-to-OTC switches, including:

  • The benefits and evolution of switch.
  • Details on how regulatory receptivity to switch is increasing.
  • Recent switches and the most promising potential future switch categories.
  • The ways in which new technologies for at-home testing, telemedicine and smartphone apps could facilitate additional switch opportunities.
  • Keys for appropriately weighing a switch business opportunity versus its considerable regulatory risk.

Read the full report for additional insights on these and other considerations in what IRI and Kline see as a very promising switch environment for the foreseeable future.

Read Report

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