Global OTC Drugs Market to Grow by 6%YoY and Hit $120.8B Value in 2021

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Over the years, non-prescription or over-the-counter (OTC) medicine has become a huge business generating billions of dollars in revenue each year.

The increasing healthcare costs resulted in patients opting for over the counter drugs rather than consulting physicians. At the same time, the growing number of pharmaceutical retail stores and a shift in the focus of pharma companies towards targeting supermarkets and grocery stores as distribution channels fuelled the growth of the entire sector.

Global OTC Drugs Market to Grow by 6%YoY and Hit $120.8B Value in 2021 Brandspurng
Photo by Adam Nieścioruk

According to data presented by Stock Apps, the global OTC drugs market is expected to grow by 6% year-over-year and hit a $120.8bn value in 2021.

Analgesics and Cold and Cough Remedies to Generate $62.7B in Revenue

The over-the-counter (OTC) drugs market includes all medicines sold directly to consumers without a prescription from a healthcare professional. In 2012, the entire sector generated $90.4bn in revenue, revealed Statista data. Over the next seven years, this figure jumped by 26% to $114.6bn. Statistics show the COVID-19 crisis has slowed the market growth, with revenues slipping to $113.8bn in 2020.

However, this figure is forecast to increase by $6.1bn in 2021 and continue growing in the following years. By 2025, the revenues of the global OTC pharmaceuticals industry are expected to hit $142.8bn.

Statistics show that cold and cough remedies represent the market’s largest segment, expected to generate $36.6bn in revenue in 2021, an 8.2% increase in a year. Analgesics ranked second with $26bn in revenue, 8.1% more than in 2020.

Vitamins and minerals sales are forecast to jump by 6.2% YoY and generate $20.7bn in revenue this year. Digestives and intestinal remedies and skin treatment products follow with $17.1bn and $15.2bn, respectively.

Statista data show that hand sanitisers are the only product category in the entire OTC drugs market whose sales is expected to drop by 7.3% year-over-year and hit a $4.9bn value in 2021.

The average revenue per user is set to reach $16.8 in 2021, 10% more than a year ago. Statistics also show that 14% of the combined revenue this year will be generated through online sales, 2% more than in 2020. In the next three years, online sales will account for 15% of combined revenues in the OTC drugs sector.

The Revenues of the US OTC Drugs Market to Jump by 9.5% YoY

The United States dominates the OTC drugs industry and is expected to increase its market share in the future, mostly due to growing consumer demand and the leading trend among pharmaceutical companies to switch from prescription to OTC drugs.

The US National Institutes of Health report showed that 93% of adults in the country prefer to treat minor ailments with OTC drugs before seeking professional care. Also, 85% of parents in the United States choose OTC medications to treat their children’s minor diseases before asking for professional care.

Statistics show the revenues of the US market are expected to jump by 9.5% year-over-year to $27.7bn in 2021.

With $21.1bn in OTC drug sales revenue or 4.9% more than a year ago, China ranked as the second-largest market globally. Japan, Brazil, and India follow, with $6.3bn, $4.9bn, and $4.4bn, respectively.

Bolanle Austen-Peters Production & MTN excite viewers with the Oluronbi Musical

Bolanle Austen-Peters Production & MTN excite viewers with the Oluronbi Musical

Global M&A Activity Soars by 88% to $2.4 Trillion in H2 2020, Strongest Second Half in History

The global mergers and acquisitions (M&A) deal value amounted to $3.6 trillion in 2020. Compared to a similar period in 2019, that was a 5% decline. It was a rollercoaster year for deal work, with the first half being one of the worst and the second being the exact opposite.

According to the research data analyzed and published by Sijoiturahastot, global M&A deal value amounted to $1.2 trillion during the first half of the year. In comparison to previous year levels, it was 41% lower. It was also the slowest first half since H1 2013.

Compared to Q1 2020, there was a 25% decrease in M&A activity in Q2 2020. Q2 2020 was also the slowest quarter of deal making since Q1 2012.

In terms of the total number of deals closed, H1 2020 saw a 16% decline, marking a six-year low. However, a strong H2 2020 nearly wiped out the disaster that was H1. The second half of 2020 saw two consecutive quarters of deal value surpassing $1 trillion. In total, the value of the M&A deal activity in H2 2020 totaled $2.4 trillion.

Global Mergers and Acquisitions Deal Value in 2020

Global M&A Activity Soars by 88% to $2.4 Trillion in H2 2020, Strongest Second Half in History Brandspurng
Source: Refinitiv

Comparing H2 2020 to the first half of the year, that was an 88% uptick, marking the strongest consecutive half-year increase in history. The previous record was set in the second half of 1997 when there was a 46% increase. Furthermore, H2 2020 was the strongest second half in history in terms of deal value.

Deal Volume Plummets by 4% in 2020 Marking Four-Year Low

The total M&A deal activity total of $3.6 trillion in 2020 set a three-year low. The previous low, which was set in 2017, saw total the deal value reach $3.2 trillion.

In terms of the number of deals in 2020, there was a 4% decline, marking a four-year low. Noteworthy too is the fact that the number of deals worth $10 billion and above decreased by 21% YoY. On the other hand, the number of deals valued between $5 billion and $10 billion increased by 38% YoY, and their value shot up by 36% YoY.

Worldwide Mergers and Acquisitions Deal Volume in 2020

Global M&A Activity Soars by 88% to $2.4 Trillion in H2 2020, Strongest Second Half in History Brandspurng
Source: Refinitiv

In total, there were 78 mega deals (valued at $5 billion or higher) during H2 2020, the highest second half total in history. For the YTD period, the number of mega-deals reached 116, up from 97 in 2019.

There have only been three instances when the number of mega-deals has reached or surpassed the 2020 total. These were in 2018 (116 mega deals), 2015 (129) and 2007 (125).

During the month of October alone, there were 20 mega deals, the highest in 2020 and the second-highest in history.

US Deal Value Declines by 21% as Europe Shoots up by 34%

In the US, total deal value declined by 21% YoY from $2.2 trillion in 2019 to $1.4 trillion in 2020. That was its slowest year since 2017 when total deal making value reached $1.3 trillion.

Total Deal Value in the US from 2019 to 2020

Global M&A Activity Soars by 88% to $2.4 Trillion in H2 2020, Strongest Second Half in History Brandspurng2
Source: EY.com

EY points out that the US market had a decline of 80% in M&A activity at the height of the pandemic.

Activity picked up during the latter part of the year, resulting in an increase of 157% in H2 compared to H1 2020. During Q4 2020, there was an increase of 32% over Q3.

Europe had a 34% uptick, with total deal value reaching $988.6 billion up from $735 billion in 2019.

To a great extent, Europe’s performance was attributed to having six of the largest deals announced in 2020. These included the Unilever PLC’s dual-headed share unification deal valued at $107 billion.

The Asia Pacific saw a 15% increase, with a deal value amounting to $871.5 billion up from nearly $758 billion in the previous year. That marked the strongest YTD performance for deal-making in the region since 2018.

The technology was the leading sector in 2020, posting a 49% uptick to reach $679.2 billion. The sector accounted for a remarkable 19% of total M&A activity YTD.

Financials came in second with a total deal value at $489.6, down 6% YoY. Energy and Power were third, accounting for 12% of deal activity, despite posting a 13% YoY decline.

The industrial sector followed with deals worth $400.6 billion, a 10% decline YoY. It accounted for 11% of total M&A. In contrast, the consumer sector was among the most exposed, sinking 16% at $156 billion.

According to EY, the stronger than expected H2 rebound in global deal-making is set to continue into 2021.

Among the reasons it cites is the growing popularity of Special Purpose Acquisition Companies (SPACs). These, it says, could bring additional forms of capital to the market. Moreover, alternative deal models such as joint ventures and alliances could also fuel deal-making.

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The Coca-Cola Foundation Empowers Over 4,600 Women in Five Months Brandspurng

MTN Nigeria Wins Excellence in Community Relations Award At LaPRIGA Awards

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MTN Nigeria Wins Excellence in Community Relations Award At LaPRIGA Awards

Citibank Announces $1.3 Bn Redemption of 2.850% Notes Due Feb 2021 and $1.25 Bn Redemption of Floating Rate Notes

Citibank, N.A. is announcing the redemption, in whole, constituting $1,300,000,000 in aggregate principal amount, of its 2.850% Notes due February 2021, and the redemption, in whole, constituting $1,250,000,000 in aggregate principal amount, of its Floating Rate Notes due February 2021.

The redemption date for the notes is January 12, 2021. The cash redemption price payable for the notes on January 12, 2021, will equal par plus accrued and unpaid interest.

Citibank Announces $1.3 Bn Redemption of 2.850% Notes Due Feb 2021 and $1.25 Bn Redemption of Floating Rate Notes

The redemption announced today is consistent with Citibank’s liability management strategy, and reflects its ongoing efforts to enhance the efficiency of its funding and capital structure.

Citibank will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, regulatory changes, potential impact on Citibank’s net interest margin and borrowing costs, the overall remaining tenor of Citibank’s debt portfolio, capital impact, as well as overall market conditions.

Beginning on the redemption date, the notes will no longer be outstanding and interest will no longer accrue on such securities. Citibank, N.A. is the paying agent for the notes.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.

Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Lack of Interest in Autonomous Driving Features Not Only Down to Trust, Finds Strategy Analytics

Improving Usefulness and Usability Through Interface Design and Dealer Education Will Help Promote Autonomous driving Feature Benefits.

A lack of trust is not the only contributing factor to the lack of widespread interest in automated driving/parking. The user experience of autonomous vehicles (AV) has many facets; consumers’ hesitance with AVs extends to usefulness and usability. Some autonomous driving features simply cannot replace the joy experienced when driving.

Lack of Interest in Autonomous Driving Features Not Only Down to Trust, Finds Strategy Analytics Brandspurng
Autonomous Driving PR Stock Photo Jan 2021 (Source: Strategy Analytics)

A new report from the Strategy Analytics’ In-Vehicle UX (IVX) service, “Consumers and Automated Driving: Looking Beyond Trust”, surveyed car owners in China, the US, and Western Europe regarding their interest in automated parking and driving features. Interest in automated features shows signs of a rebound, but mere exposure to autonomous technology will not be sufficient to address the myriad of consumer concerns.

Commented Derek Viita, report author and Senior Analyst IVX, 

“In order to get riders on board with assistance systems and even fully automated bus/taxi services, stakeholders need to cater not just toward Early Adopters, but also towards a proportion of the large consumer base who have no interest in this technology.

Gaining trust should be part of that effort, but we must also look beyond assuming trust is the only barrier and fully educate consumers on the usefulness and usability of autonomous driving features – they can still enjoy the experience, even when using the autonomous features.”

Added Chris Schreiner, Director, IVX ,

“Two remedies that could potentially mitigate the interest and usefulness issues avoiders are bringing up in our research are: firstly an effort at the interface design level, to improve communication of system status and hand-off/takeover requests; and secondly, an effort at the marketing and dealer education level, to help the “front lines” better explain the benefits of these features to hesitant buyers.”

The Future Of Video Gaming Is Bright – Even As Real Experiences Return

Globally, the video game industry was likely one of the best equipped to handle the turbulence of 2020. Not only did engagement skyrocket as consumers stayed at home, but the industry pivoted to ensure it was doing everything it could to keep consumers engaged.

Branded crossover events, virtual concerts and celebrity influencer participations all fueled a groundswell that shows no signs of receding—even as the COVID-19 vaccine promises to allow people to once again be with each other IRL.

The Future Of Video Gaming Is Bright - Even As Real Experiences Return Brandspurng2

Engagement with video games was growing well before the pandemic, powered by growing mobile connectivity and a surge in free-to-play games. Yet when you add 10 months of time at home, the growing abundance of ways to engage with video games and video game content has further cemented video games in consumers’ lives.

And somewhat oddly, many consumers say they’re spending more time engaging via their mobile devices despite global mobility restrictions throughout the year.

At the height of lockdowns, 55% of U.S. consumers were playing video games as a result of COVID-19 and subsequent restrictions. That stat becomes even more impressive when you compare it with the reach of live and time-shifted TV, which stood at 83% among U.S. adults 18 and older, according to the second-quarter 2020 Nielsen Total Audience report.

TOP REASONS TO PLAY VIDEO GAMES DURING COVID-19

The Future Of Video Gaming Is Bright - Even As Real Experiences Return Brandspurng
Data was collected from an April 2020 survey of U.S. residents 18 and older. Values pertain to U.S. residents who played or watched video games.

But consumers didn’t stop at spending more time with video games. They outspent on games as well. That might be underwhelming under normal circumstances, but through the lens of a global pandemic with widespread health and financial ramifications, it’s illuminating.

Early in the year (January and February), game earnings were up just 6%—and that was before COVID-19 truly took hold in the U.S. As the year progressed, game earnings nearly doubled, rising to 14% for the rest of the year.

Importantly, consumers interact with games in ways that go beyond playing them directly. Many audience members watch games as often as they play. Largely popular with Millennials, gaming video content (GVC) is online video content about games.

While 71% of Millennial gamers reported watching GVC late last year, the entire audience for GVC grew 18% to 1.2 billion people this year, generating more than $9 billion in revenue.

Live stream provider Twitch has played a leading role in furthering engagement with GVC, as it helped battle royale platform Fall Guys: Ultimate Knockout become a breakout hit in August, as it went on to sell 8.2 million units on PC in one month. And after Twitch streamers popularized online social deduction game Among Us, it went on to attract the highest monthly player base of any game in history.

2020 GAMING VIDEO CONTENT REVENUE BY PLATFORM

The Future Of Video Gaming Is Bright - Even As Real Experiences Return Brandspurng1

But video gaming has even grown to transcended entertainment: today, as a result of global movement restrictions, video games represent a newfound way to stay in touch with people and make new friends. Research from SuperData, a Nielsen company, found that roughly one in four (27%) U.S. residents used video games as a way to stay in touch with other people in 2020.

And with many areas around the globe reintroducing lockdown scenarios, video games present a virtual platform for social interaction—and more. With social distancing still very much a factor in daily lives, free-to-play video games like Fortnite and Roblox have become virtual gathering hotspots, aided by the increasing presence from musicians and public figures.

Fortnite enjoyed massive success for its in-game live events in 2020: singer-songwriter Travis Scott held a series of five virtual concerts throughout the year that attracted more than 45 million viewers; in November, Lil Nas X performed a concert in Roblox that gathered more than 33 million views.

But the appeal of these gaming platforms spans beyond musicians: For example, in the U.S., Congresswomen Alexandria Ocasio-Cortez and Ilhan Omar streamed Among Us alongside popular Twitch streamers.

Entertainment and political figures aren’t the only ones to bridge connections through the virtual realm of the video game industry in 2020. Realizing the need to do more than use in-game ads and sponsorships, brands continue expanding their reach through an array of popular video games.

Animal Crossing: New Horizons, for example, attracted the Biden-Harris campaign, which offered gamers the opportunity to deck out their island homes with official Joe Biden yard signs. Meanwhile, the NFL’s Detroit Lions used Animal Crossing: New Horizons to debut its 2020 game schedule while Fortnite continued building on its crossover success with an epic, several-month-long event with Marvel Comics.

There is no doubt that the unique circumstances of 2020 elevated the video game industry’s ability to engage new and existing users, particularly through a wealth of creativity and collaboration.

The arrival of vaccines to combat COVID-19 are very welcome signs of hope, but they will not induce a sudden pullback in video gaming. While the video game industry was trending upward well before the pandemic, research suggests that 10 months of new behaviour (during the pandemic) is far longer than it takes for it to become the norm.

According to findings from health psychology researcher Phillippa Lally, new behaviours become automatic after an average of 66 days. 2021 will be a welcome new chapter for many around the world, but brands should remain focused on engaging consumers where they spend their time—and money.

Covid-19 Fuels A 50% Increase In Omnichannel Shopping Across The U.S.

Covid-19 Fuels A 50% Increase In Omnichannel Shopping Across The U.S.

The COVID-19 pandemic has democratized e-commerce for all types of consumers, and over 18 million CPG buyers (and counting) in the U.S. have flooded the online space since March.

Online shoppers have been mirroring their purchasing within the channel to their constantly shifting, pandemic-related needs and are becoming further entrenched in their shopping behaviours.

Covid-19 Fuels A 50% Increase In Omnichannel Shopping Across The U.S.

But not all online engagement leads to an online purchase. For many, online channels are a key means to compare prices, research new products and find physical stores, giving way to a full-blown explosion of true omnichannel shopping.

In fact, new Nielsen Connect data shows that FMCG omnichannel shopping has increased by 50% this year, with nearly half leading to e-commerce purchases.

When examining consumers’ levels of engagement across channels, 56% of online shoppers put careful consideration into each purchase at the point of sale in September 2020, compared with 51% of brick-and-mortar shoppers.

Online shoppers became more invested than their brick-and-mortar counterparts in searching for the best product to fit new needs and, as a result, increased planning efforts for online grocery purchases into the new normal.

When examining planning levels for in-store food purchases, rates of purchase planning dipped below pre-COVID levels by September 2020. And as brick-and-mortar shoppers eased up on planning efforts, impulse purchasing for food and non-food products increased slightly across offline channels.

COVID-19 FUELS A 50% INCREASE IN OMNICHANNEL SHOPPING ACROSS THE U.S. Brandspurng

#YouTubeBlackVoices: How YouTube is Supporting Black Creators and Artists

12 January 2021 – YouTube today released its inaugural class of African content creators set to receive a grant for the development of their channels from the global #YouTubeBlackVoices Fund. 

In addition to the grant earmarked for content development, the 23 YouTubers (from Kenya, Nigeria and South Africa) will also take part in an intensive three-week incubator programme followed by bespoke training, workshops and networking programmes. These creators are part of 132 creators from across the world who are participating in the Class of 2021.

#YouTubeBlackVoices: How YouTube is Supporting Black Creators and Artists

YouTube also announced that top African artistes; Fireboy DML, Sauti Sol and Sho Madjozi have been selected as part of 23 artists to join the #YouTubeBlack Voices Class of 2021. The artists join others selected from the United States, Brazil, and Australia, whose music spans generations, and locations.

The Artist Class of 2021 will receive dedicated partner support from YouTube, seed funding invested into the development of their channels, and participate in training and networking programs focused on production, fan engagement, and wellbeing.

#YouTubeBlackVoices: How YouTube is Supporting Black Creators and Artists
Photo by Leon Bublitz on Unsplash

“We’re excited to spotlight Black creatives from the African continent and amplify their voices as they create original content on our platform,” says Alex Okosi, MD, Emerging Markets, YouTube EMEA.

“African creators on YouTube are reshaping the power of our platform by providing a unique perspective on all manner of topics from fashion and comedy to politics, learning and wellness. Through their content, these creators continue to raise the bar for how others engage with their audiences and build community on our platform,” Okosi concludes.

This announcement comes after the October 2020 call for African creators to apply for #YouTubeBlackVoices funding as part of YouTube’s global, multi-year commitment aimed at nurturing Black creators and artists on YouTube. Over the next few years, YouTube plans to invest directly in more than 500 creators and artists from across the world in order to fulfil this commitment.

Below is Africa’s full list of the #YouTubeBlackVoices Creator Class of 2021.

Name

YouTube Channel

Country

Akah Bants

Akah Bants

Nigeria

Dimma Umeh

Dimma Umeh

Nigeria

Eric Okafor

Eric Okafor

Nigeria

Fireboy DML

Fireboy DML

Nigeria

Nicolette Mashile

Financial Bunny

South Africa

Kaluhi Adagala

Kaluhi’s Kitchen

Kenya

Kay Ngonyama

Kay Yarms

South Africa

Lade Owolabi

Lade Owolabi

Nigeria

Dodos Uvieghara

Iamdodos90

Nigeria

Lasizwe Dambuza

Lasizwe Dambuza

South Africa

MacG

MacG

South Africa

Mitchelle Adagala

Mitchelle Agadala

Nigeria

Mumo

Mumo

Kenya

Ofentse and Nelisiwe Mwase

Ofentse Mwase Films

South Africa

Oscar Frank

Oscarmini

Nigeria

Owamie Hlongwane

Owamie Hlongwane

South Africa

Patricia Kihoro

Patricia Kihoro

Kenya

Sauti Sol

Sauti Sol

Kenya

Sho Madjozi

Sho Madjozi

South Africa

Thato Rampedi

Thato Rampedi

South Africa

Naledi Monamodi

Toast with Naledi

South Africa

Tomike Adeoye

Tomike Adeoye

Nigeria

Winnie Emmanuel

Zeelicious Foods

Nigeria