Prosperity can also bring an increase in girth.
And that is precisely what China is undergoing. In fact, the Asian nation’s waistlines are increasing twice as much as the nation’s rising GDP.
A new report projects that the skyrocketing obese population is creating unique opportunities for the pharmaceutical market, which will be able to market a variety of drugs for obesity-related conditions. GBI Research is projecting that the value of the Chinese over-the-counter drug market is poised to nearly double to $16.6 billion in 2018 from $8.6 billion in 2011.
Not all of the growth in the Chinese OTC market can be attributed to obesity alone, of course, but it is a large contributing factor.
“Growing elderly populations and rapidly rising obesity are driving growth of the OTC market in China,” said Kimberly Carter, life sciences analyst, GBI Research, in a news release. “Thanks to a vibrant economy and greater awareness, consumers are placing a higher value on their health and their spending on OTC products is reflecting that.”
[Photo Credit: Obesity Traffic Sign from Big Stock Photo]
