US OTC Market In 2020: COVID-19 Impact Obvious In Medical Device As Well As Drug Sales Growth
Most notably among OTC drugs, hand sanitizer sales were up more than 600% to $1.46bn, while sales of consumer medical devices grew 15.6% to $14.8bn in 2020, according to CHPA report.
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Prestige Consumer Healthcare prepares to “lap the effects” of COVID-19 disruption on, estimating its fiscal year 2021 sales will reach $935m, ahead of earlier projections, and maintaining long-term organic growth targets of 2%-3%.
The Consumer Healthcare Products Association’s rebranding initiative – its first in 20 years – aligns the group with today’s self-care marketplace where consumer medical devices play an increasingly prominent role. It also follows “landmark legislative achievements in 2020 that will further empower consumers to practice responsible self-care,” CHPA says.