According to the latest report released by AdEx, a division of TAM Media Research, print advertising volumes of over the counter (OTC) medicines grew 14% during January to September this year compared to the same period last year. The growth, in terms of numbers, is not extraordinary but eight out of 10 top advertisers are engaged in the manufacture of ayurvedic proprietary medicines.
The top advertiser was Prince Pharma followed by Panjon Pharma and Ratan Ayurvedic Sansthan. Nutricharge tablets, Musli Power Xtra and Speed Height Capsule led in the print medium.
The ‘OTC Products Range’ category, with 32% share, led OTC sector advertising in print, followed by ‘Health Stimulant/Ginseng’ and ‘Vitamins/Tonics/Health Supplements’ with 25% and 22% shares respectively.
Experts said ayurvedic OTC drugs have potential due to the ease in information dissemination, as everything is available online. The value of the Indian ayurvedic OTC market is Rs 7,500-8,000 crore, with an expected compounded annual growth rate of 18-20%.
According to N Venkat, MD & CEO, Birla Wellness and Healthcare, the reason behind the mushrooming of the industry is the absence of patent laws. Also, the industry produces abundant drugs to cure lifestyle diseases.
The industry is dominated by small and medium enterprises that are generally budget conscious. “Print being a reasonable medium to advertise in, which is also approachable for the targeted audience, fits the industry best,” said advertising expert Santosh Desai.