ANALGESICS IN SINGAPORE

Euromonitor International
November 2017
ANALGESICS IN SINGAPORE Passport I

LIST OF CONTENTS AND TABLES

Headlines ..................................................................................................................................... 1
Prospects ..................................................................................................................................... 1
Growth of Topical Analgesics Is Expected To Remain Dynamic .............................................. 1
Lifestyles of Young Singaporeans Will Be A Growth Driver ...................................................... 1
Growing Consumer Demand for Quick Pain Relief ................................................................... 1
Competitive Landscape ................................................................................................................ 1
GlaxoSmithKline Singapore To Focus on Strengthening Voltaren Brand ................................. 2
Reckitt Benckiser Gains Traction With the Rising Popularity of Nurofen .................................. 2
Category Data .............................................................................................................................. 2
Table 1 Sales of Analgesics by Category: Value 2012-2017 .................................... 2
Table 2 Sales of Analgesics by Category: % Value Growth 2012-2017 .................... 2
Table 3 Sales of Topical Analgesics/Anaesthetic by Format: % Value 2012-
2017 ............................................................................................................. 3
Table 4 NBO Company Shares of Analgesics: % Value 2013-2017 ......................... 3
Table 5 LBN Brand Shares of Analgesics: % Value 2014-2017 ................................ 4
Table 6 Forecast Sales of Analgesics by Category: Value 2017-2022...................... 5
Table 7 Forecast Sales of Analgesics by Category: % Value Growth 2017-
2022 ............................................................................................................. 5

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 1

ANALGESICS IN SINGAPORE
HEADLINES
 Analgesics records current value growth of 6% in 2017, amounting to SGD53 million
 Fast-acting analgesics gain ground in 2017
 Ibuprofen records the most dynamic current value growth of 73% in 2017
 GlaxoSmithKline Singapore leads analgesics with a value share of 32% in 2017
 Analgesics is expected to register a value CAGR of 4% at constant 2017 prices over the
forecast period

PROSPECTS

Growth of Topical Analgesics Is Expected To Remain Dynamic

The growth by topical analgesics continued to outpace systemic analgesics in 2017. Topical
analgesics are popular in Singapore, especially among the elderly, as they provide direct relief
to affected muscle group or joints. Demand was also driven by a growing number of
Singaporeans striving for healthier living, preferring topical remedies which are perceived to
have fewer side effects compared to oral drugs. In Singapore, the patch format is the most
sought after topical analgesics by retail value, with brands such as Tiger Balm and Salonpas
leading.

Lifestyles of Young Singaporeans Will Be A Growth Driver

While topical analgesics tend to be used by the elderly, it is predicted that an increasing
number of young consumers will also purchase them. As Singaporeans become digitally
connected, they are spending an increasing amount of time in front of computers and playing on
mobile devices. This makes it common for them to experience strains in their neck and
shoulders, increasing the likelihood of them purchasing topical analgesics for targeted pain
relief. As such, topical analgesics is expected to remain as the main growth driver in the overall
category over the forecast period. Manufacturers are also expected to focus on expanding their
product ranges in different formats. For instance, Tiger Balm introduced its topical analgesics in
lotion format that dries quickly.

Growing Consumer Demand for Quick Pain Relief

Products with fast-acting formulations has gained traction in Singapore over the years. This is
in part due to the increasingly hectic lifestyles which lead consumers to seek rapid relief to
resume their daily activities. Several new innovations have already emerged to address this
need, such as Reckitt Benckiser’s Nurofen Express, which claims to provide fast and targeted
pain relief in 10 minutes. Over the forecast period, manufacturers are expected to continue to
focus on developing analgesics with fast-acting formulations to capitalise on the growing
demand. They are also likely to include labels such as “fast-acting” or “works in one hour” on the
packaging as a form of marketing strategy to ignite consumer interest.

COMPETITIVE LANDSCAPE

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 2

GlaxoSmithKline Singapore To Focus on Strengthening Voltaren Brand

GlaxoSmithKline Singapore retained its leading position in analgesics in 2017. This can be
attributed to its key Panadol brand, which is highly trusted among Singaporeans. The company
also benefits from its joint venture with Novartis in 2015, which expanded its presence in topical
analgesics through Voltaren. Following which, GlaxoSmithKline heavily advertised Voltaren via
television and in-store, while providing price discounts in a bid to spur consumer interest.
Consequently, it witnessed strong double-digit value growth in 2017. However, Voltaren only
accounts for a small share in the company’s total value sales in analgesics. Hence, it is
expected that GlaxoSmithKline will focus on advertising the brand to strengthen its position over
the forecast period.

Reckitt Benckiser Gains Traction With the Rising Popularity of Nurofen

The overall share of Reckitt Benckiser grew steadily over the review period, due to the
strength of its Nurofen brand. In 2016, the brand was reclassified from Pharmacy Only Medicine
(P) to General Sale List (GSL). With consumers now being able to obtain Nurofen without
assistance from a pharmacist, this positively influenced its sales. Demand was further boosted
as the company heavily marketed the brand via television advertisements. In particular, Nurofen
Express, which is marketed to provide quick and targeted pain relief, appealed to consumers
who demand fast-acting products to resume their daily activities quickly. As Nurofen continued
to gain ground, it not only fuelled the total share of Reckitt Benckiser, but it also drove the
growth of adult ibuprofen in 2017.

CATEGORY DATA
Table 1 Sales of Analgesics by Category: Value 2012-2017

SGD million
2012 2013 2014 2015 2016 2017

Systemic Analgesics 15.8 16.3 16.8 17.3 17.9 18.6

- Adult Analgesics 14.6 15.0 15.5 16.0 16.5 17.2
- Paediatric Analgesics 1.3 1.3 1.3 1.3 1.4 1.4
- Adult and Paediatric 15.8 16.3 16.8 17.3 17.9 18.6
Systemic Analgesics
Topical Analgesics/ 24.1 25.9 27.8 30.0 32.2 34.5
Anaesthetic
Analgesics 39.9 42.2 44.7 47.3 50.1 53.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2017 data is provisional and based on part-year estimates.

Table 2 Sales of Analgesics by Category: % Value Growth 2012-2017

% current value growth

2016/17 2012-17 CAGR 2012/17 Total

Systemic Analgesics 3.9 3.3 17.5

- Adult Analgesics 4.1 3.4 18.1
- Paediatric Analgesics 2.3 2.2 11.5
- Adult and Paediatric Systemic 3.9 3.3 17.5
Analgesics
Topical Analgesics/Anaesthetic 7.0 7.4 43.0

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 3

Analgesics 5.9 5.9 32.9

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2017 data is provisional and based on part-year estimates.

Table 3 Sales of Topical Analgesics/Anaesthetic by Format: % Value 2012-2017

% retail value rsp

2012 2013 2014 2015 2016 2017

Cream/Gel 19.0 19.3 19.5 19.0 18.8 18.6

Lotion 3.6 3.4 3.2 3.1 3.1 3.0
Ointment 31.6 31.8 31.8 31.8 31.9 31.9
Patch 30.5 31.5 32.0 33.0 33.1 33.3
Spray 7.3 7.4 7.4 7.0 7.0 7.0
Others 8.0 6.6 6.1 6.1 6.1 6.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2017 data is provisional and based on part-year estimates.

Table 4 NBO Company Shares of Analgesics: % Value 2013-2017

% retail value rsp

Company 2013 2014 2015 2016 2017

GlaxoSmithKline 34.7 34.0 33.1 32.3 31.5

Singapore Pte Ltd
Haw Par Healthcare Ltd 24.0 24.8 25.2 25.5 25.9
Hisamitsu 15.5 15.9 16.4 16.8 17.1
Pharmaceutical Co Inc
Leung Kai Fook Medical 4.2 4.2 4.3 4.2 4.2
Co Pte Ltd
Kobayashi 4.1 3.9 3.8 3.8 3.7
Pharmaceutical Co Ltd
Borden Co (Pte) Ltd 2.9 2.8 2.8 2.8 2.7
Rohto Pharmaceutical Co 1.9 1.9 1.9 1.9 1.9
Ltd
Reckitt Benckiser (S) 0.7 0.7 0.7 0.7 1.8
Pte Ltd
Bristol-Myers Squibb 1.0 1.0 1.0 1.0 1.0
(S) Pte Ltd
GSK Consumer Healthcare - - 0.2 0.3 0.5
Ikeda Mohando Co Ltd 0.6 0.6 0.5 0.5 0.5
Bayer (South East Asia) 1.8 1.8 1.7 1.7 0.3
Pte Ltd
Johnson & Johnson Pte Ltd 0.3 0.2 0.2 0.2 0.2
iNova Pharmaceuticals 0.2 0.1 0.1 0.1 0.1
(S) Pte Ltd
Remedica Ltd 0.2 0.1 0.1 0.1 0.1
United Laboratories Inc 0.2 0.1 0.1 0.1 0.1
Walter Ritter 0.0 0.1 0.1 0.1 0.1
Pharmaceuticals Pte Ltd
Dairy Farm 0.8 0.8 0.8 0.4 0.1
International Holdings
Ltd
Novartis Consumer 0.2 0.2 - - -

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 4

Health (S) Pte Ltd

Others 6.6 6.8 7.0 7.4 8.1
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 LBN Brand Shares of Analgesics: % Value 2014-2017

% retail value rsp

Brand (GBO) Company (NBO) 2014 2015 2016 2017

Panadol GlaxoSmithKline 33.7 32.8 31.9 31.2

(GlaxoSmithKline Plc) Singapore Pte Ltd
Tiger Balm (Haw Par Haw Par Healthcare Ltd 21.9 22.3 22.6 23.0
Corp Ltd)
Salonpas Hisamitsu 15.9 16.4 16.8 17.1
Pharmaceutical Co Inc
Axe Brand (Leung Leung Kai Fook Medical 4.2 4.3 4.2 4.2
Kai Fook Co Ltd) Co Pte Ltd
Kwan Loong Oil (Haw Haw Par Healthcare Ltd 2.8 2.9 2.9 2.9
Par Corp Ltd)
Ammeltz Kobayashi 2.9 2.9 2.8 2.8
Pharmaceutical Co Ltd
Eagle Borden Co (Pte) Ltd 2.8 2.8 2.8 2.7
Mentholatum Rohto Pharmaceutical Co 1.9 1.9 1.9 1.9
Ltd
Cardiprin (Reckitt Reckitt Benckiser (S) 0.2 0.2 0.2 1.0
Benckiser Group Plc Pte Ltd
(RB))
Counterpain (Taisho Bristol-Myers Squibb 1.0 1.0 1.0 1.0
Pharmaceutical (S) Pte Ltd
Holdings Co Ltd)
Tokuhon (Taisho Kobayashi 1.0 1.0 0.9 0.9
Pharmaceutical Pharmaceutical Co Ltd
Holdings Co Ltd)
Nurofen (Reckitt Reckitt Benckiser (S) 0.4 0.4 0.5 0.8
Benckiser Group Plc Pte Ltd
(RB))
Voltaren GSK Consumer Healthcare - 0.2 0.3 0.5
(GlaxoSmithKline Plc)
Mopiko Ikeda Mohando Co Ltd 0.6 0.5 0.5 0.5
Calpol GlaxoSmithKline 0.4 0.3 0.3 0.3
(GlaxoSmithKline Plc) Singapore Pte Ltd
Aleve (Bayer AG) Bayer (South East Asia) 0.3 0.3 0.3 0.3
Pte Ltd
BenGay (Johnson & Johnson & Johnson Pte Ltd 0.2 0.2 0.2 0.2
Johnson Inc)
Metsal (Valeant iNova Pharmaceuticals 0.1 0.1 0.1 0.1
Pharmaceuticals (S) Pte Ltd
International Inc)
Remedol Remedica Ltd 0.1 0.1 0.1 0.1
Biogesic United Laboratories Inc 0.1 0.1 0.1 0.1
Ethylchloride Walter Ritter 0.1 0.1 0.1 0.1
Pharmaceuticals Pte Ltd
Guardian (Private Dairy Farm 0.8 0.8 0.4 0.1
Label) International Holdings Ltd
Bayer Aspirin Bayer (South East Asia) 1.4 1.4 1.3 -
(Bayer AG) Pte Ltd
Voltaren (Novartis Novartis Consumer 0.2 - - -

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 5

AG) Health (S) Pte Ltd

Counterpain Bristol-Myers Squibb - - - -
(Bristol-Myers (S) Pte Ltd
Squibb Co)
Metsal (iNova iNova Pharmaceuticals - - - -
Pharmaceuticals (S) Pte Ltd
(Australia) Pty Ltd)
Tokuhon (Tokuhon Kobayashi - - - -
Corp) Pharmaceutical Co Ltd
Disprin (Reckitt Reckitt Benckiser (S) - - - -
Benckiser Group Plc Pte Ltd
(RB))
Others Others 6.8 7.0 7.4 8.1
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 6 Forecast Sales of Analgesics by Category: Value 2017-2022

SGD million
2017 2018 2019 2020 2021 2022

Systemic Analgesics 18.6 19.1 19.5 19.9 20.3 20.7

- Adult Analgesics 17.2 17.7 18.1 18.5 18.8 19.2
- Paediatric Analgesics 1.4 1.4 1.4 1.4 1.5 1.5
- Adult and Paediatric 18.6 19.1 19.5 19.9 20.3 20.7
Systemic Analgesics
Topical Analgesics/ 34.5 36.4 38.2 39.9 41.5 43.1
Anaesthetic
Analgesics 53.1 55.5 57.7 59.8 61.8 63.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2017 data is provisional and based on part-year estimates.

Table 7 Forecast Sales of Analgesics by Category: % Value Growth 2017-2022

% constant value growth

2017/2018 2017-22 CAGR 2017/22 Total

Systemic Analgesics 2.7 2.2 11.3

- Adult Analgesics 2.8 2.2 11.6
- Paediatric Analgesics 1.2 1.4 7.0
- Adult and Paediatric Systemic 2.7 2.2 11.3
Analgesics
Topical Analgesics/Anaesthetic 5.5 4.6 25.0
Analgesics 4.5 3.7 20.2
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2017 data is provisional and based on part-year estimates.

© Euromonitor International