What Does the Future Hold for the OTC Market?
How long would the Chinese OTC market be able to sustain such robust growth? In the near future, OTC market players, both local and foreign will continue to face stiff competition with China as a member of the WTO. Currently, only licensed domestic wholesalers are allowed to distribute drugs in the country. However, foreign companies are likely to be permitted to deliver their own products after January 2003 according to the China-WTO agreement. It is anticipated that the OTC market will be a more crowded playground as foreign manufacturers are lining up to seek entry into the Chinese market. Although companies have listed their products with the State Drug Administration (SDA) OTC catalog, it does not guarantee success in the Chinese market. Efficacious products along with good marketing skills are required in order to succeed in the market. Competition in the OTC market is expected to intensify as chain drugstores, which are the main distribution channel for OTC products, adopt disco
