Analgesics in Singapore

Euromonitor International
November 2020
ANALGESICS IN SINGAPORE Passport i

LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2020 IMPACT ............................................................................................................................... 1
Stockpiling of systemic analgesics to treat COVID-19 symptoms ............................................. 1
Nominal growth despite slight uptake for paediatric systemic analgesics ................................. 1
Sales remain highly concentrated among leading players ........................................................ 1
RECOVERY AND OPPORTUNITIES .......................................................................................... 2
Leading systemic analgesics players unsure over prolonged spike in sales ............................ 2
Self-diagnosis to fuel demand for systemic analgesics ............................................................. 2
Back-to-basics drives demand for herbal/traditional topical analgesics .................................... 2
CATEGORY DATA ....................................................................................................................... 3
Table 1 Sales of Analgesics by Category: Value 2015-2020 .................................... 3
Table 2 Sales of Analgesics by Category: % Value Growth 2015-2020 .................... 3
Table 3 NBO Company Shares of Analgesics: % Value 2016-2020 ......................... 4
Table 4 LBN Brand Shares of Analgesics: % Value 2017-2020 ................................ 5
Table 5 Forecast Sales of Analgesics by Category: Value 2020-2025...................... 6
Table 6 Forecast Sales of Analgesics by Category: % Value Growth 2020-
2025 ............................................................................................................. 7

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 1

ANALGESICS IN SINGAPORE
KEY DATA FINDINGS
▪ The COVID-19 outbreak, coupled with widespread self-medication in Singapore, significantly
spiked demand for OTC analgesics as a pain-reliever in 2020
▪ Analgesics current retail value sales rise by 4% to reach SGD61 million in 2020
▪ Adult acetaminophen leads growth in 2020, with current retail value sales rising by 7%
▪ GSK Consumer Healthcare Singapore leads sales in 2020, posting a retail value share of
33%
▪ Over the forecast period, analgesics is expected to post a retail value CAGR of 5% at current
2020 prices (4% constant value), with sales reaching SGD78 million in 2025

2020 IMPACT

Stockpiling of systemic analgesics to treat COVID-19 symptoms

The outbreak of COVID-19 in Singapore led to the raising of the DORSCON risk assessment
level from yellow to orange in early February 2020. Shortly after this decision, panic-buying of
systemic analgesics ensued as consumers rushed to stock up on pain-relievers to ensure they
were readily prepared. Stockpiling of analgesics took place both offline and online, with local
drugstores Watsons and Guardian experiencing a spike in online traffic purchases immediately
after the orange level alert was announced.
Purchases of acetaminophen exceeded sales in other categories (ie ibuprofen and aspirin).
This can be attributed to warnings by the World Health Organisation (WHO) against using
ibuprofen and recommendations to use paracetamol instead. In addition, COVID-19 patients
were most commonly prescribed with paracetamol when hospitalised. Acetaminophen thus
recorded stellar growth, especially during Q1 2020.

Nominal growth despite slight uptake for paediatric systemic analgesics

Paediatric systemic analgesics are among the most common drugs contributing to child
overdose cases in Singapore. This is highlighted by the fact that overdoses of paediatric
acetaminophen and ibuprofen are among the top three most common drug-related emergencies
in Singapore’s KK Women’s and Children’s Hospital. Despite the slight spike in sales due to the
onset of COVID-19, which encouraged short-term stockpiling, growth is expected to decline
during the forecast period given parents are turning towards clinics where doctors prescribe
appropriate dosages of medication, rather than purchasing from OTC channels. However, rising
education levels among parents regarding methods and precautions to prevent overdoses might
offset current practices in the future, thus boosting demand for OTC paediatric analgesics.

Sales remain highly concentrated among leading players

Sales within analgesics in Singapore remain highly concentrated among the leading three
players. GSK Consumer Healthcare remains in pole position due to the popularity of its leading
acetaminophen brand Panadol in its various forms within the adult segment (Extra, Actifast,
Extend and Soluble formats), as well as within the paediatric segment with Children’s Panadol.
Segmentation has also benefited the multinational as it continues to dominate adult combination
products with Panadol Menstrual. The popularity of herbal/traditional products is highlighted by

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 2

the strength of Haw Par Healthcare and Hisamitsu Pharmaceutical, with both companies
expected to gain further sales share over the coming years.

RECOVERY AND OPPORTUNITIES

Leading systemic analgesics players unsure over prolonged spike in

sales
While it is evident that sales of systemic analgesics peaked in the first half of 2020, industry
players are unsure of whether the impact will spill over into the future. Looking back at the H1N1
outbreak in 2009, sales of OTC products peaked for the entire year, despite the relative speed
with which a vaccine was formulated, before returning to normal growth rates after 2009. Given
the slim likelihood of a vaccine being developed in 2020, coupled with the probability of a
second wave in Singapore, it is probable that systemic analgesics will continue to be in high
demand. Within systemic analgesics, the joint venture between GlaxoSmithKline and Pfizer
since 2019 has resulted in even greater consolidation, thus cushioning GSK Consumer
Healthcare’s leading position in Singapore.
Lockdown and social distancing reduced the frequency of outdoor activities such as sports,
since consumers are forced to stay indoors. As such, the likelihood of consuming topical
analgesics to relieve muscle sprains was reduced. However, the increased number of
consumers working from home could offset such a decline, since the lack of proper workstations
indoors may result in higher incidences of back and neck strains due to poor posture.

Self-diagnosis to fuel demand for systemic analgesics

One of the trends emerging from COVID-19 is the ease of self-diagnosis in Singapore. Shortly
after the outbreak of the virus, an online symptom checker was developed. Consumers can
utilise this service to seek advice on whether or not to visit a doctor based on their age, recent
travel history and symptoms. While the symptom checker does not offer specific medical advice,
it helps consumers alleviate worries of contracting COVID-19, as well as control the spread of
the virus in Singapore by preventing the same patient from consulting multiple doctors at once.
Patients who have been advised to stay at home to monitor symptoms might be more prone to
self-medicate as a result, thus boosting demand for OTC systemic analgesics.

Back-to-basics drives demand for herbal/traditional topical analgesics

The popularity of traditional remedies is expected to boom further as consumers opt for back-
to-basic natural formulations within topical analgesics, which are perceived as providing
nutraceutical immunity benefits. This is highlighted by the success of Haw Par Healthcare,
which leads topical analgesics due to the popularity of its Tiger Balm product.
In the context of COVID-19, this trend is demonstrated by consumers rushing to seek
acupuncture treatments at traditional Chinese medicine clinics to relieve pain immediately after
Singapore’s two-month long Circuit Breaker lockdown. The popularity of such traditional pain-
relieving practices can similarly be seen for topical analgesics, where consumers opt for
products with herbal/traditional formulations perceived to have naturopathic properties
compared to standard topical analgesic counterparts. For example, popular pain-relieving
ointment Tiger Balm is found to contain a higher than average percentage of naturopathic
ingredients such as mint, cajuput and clove oil compared to other standard topical analgesics.
With the notion of long-term preventive health and wellness heightened in light of COVID-19,
herbal and traditional topical analgesics is set to experience accelerated growth over the
forecast period.

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 3

CATEGORY DATA
Table 1 Sales of Analgesics by Category: Value 2015-2020

SGD million
2015 2016 2017 2018 2019 2020

Systemic Analgesics 17.3 17.8 18.5 19.2 19.8 21.0

- Adult Analgesics 15.9 16.4 17.1 17.8 18.4 19.5
-- Adult Acetaminophen 14.1 14.5 15.3 15.9 16.5 17.7
-- Adult Aspirin 1.0 1.0 0.9 0.9 0.8 0.8
-- Adult Combination 0.5 0.5 0.6 0.6 0.6 0.6
Products - Analgesics
-- Adult Diclofenac - - - - - -
-- Adult Dipyrone - - - - - -
-- Adult Ibuprofen 0.2 0.2 0.2 0.2 0.2 0.2
-- Adult Ketoprofen - - - - - -
-- Adult Naproxen 0.2 0.2 0.2 0.2 0.2 0.2
-- Adult OTC Triptans - - - - - -
- Paediatric Analgesics 1.3 1.4 1.4 1.5 1.5 1.5
-- Paediatric 1.3 1.3 1.4 1.4 1.4 1.5
Acetaminophen
-- Paediatric Aspirin - - - - - -
-- Paediatric - - - - - -
Combination Products -
Analgesics
-- Paediatric Dipyrone - - - - - -
-- Paediatric Ibuprofen 0.0 0.0 0.0 0.1 0.1 0.1
-- Paediatric Naproxen - - - - - -
- Adult and Paediatric 17.3 17.8 18.5 19.2 19.8 21.0
Systemic Analgesics
-- Acetaminophen 15.4 15.9 16.6 17.3 18.0 19.2
-- Aspirin 1.0 1.0 0.9 0.9 0.8 0.8
-- Combination Products 0.5 0.5 0.6 0.6 0.6 0.6
- Analgesics
-- Diclofenac - - - - - -
-- Dipyrone - - - - - -
-- Ibuprofen 0.2 0.2 0.2 0.3 0.3 0.3
-- Ketoprofen - - - - - -
-- Naproxen 0.2 0.2 0.2 0.2 0.2 0.2
-- OTC Triptans - - - - - -
Topical Analgesics/ 29.8 32.1 34.6 36.8 38.3 39.4
Anaesthetic
Analgesics 47.1 49.8 53.1 56.1 58.1 60.5
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2020 data is provisional and based on part-year estimates.

Table 2 Sales of Analgesics by Category: % Value Growth 2015-2020

% current value growth

2019/20 2015-20 CAGR 2015/20 Total

Systemic Analgesics 6.0 4.0 21.9

- Adult Analgesics 6.3 4.2 22.6
-- Adult Acetaminophen 7.1 4.7 25.6

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 4

-- Adult Aspirin -2.8 -3.2 -15.2

-- Adult Combination Products - 1.3 2.6 13.5
Analgesics
-- Adult Diclofenac - - -
-- Adult Dipyrone - - -
-- Adult Ibuprofen 0.3 4.1 22.5
-- Adult Ketoprofen - - -
-- Adult Naproxen 3.3 3.2 17.0
-- Adult OTC Triptans - - -
- Paediatric Analgesics 2.2 2.6 13.9
-- Paediatric Acetaminophen 2.1 2.4 12.6
-- Paediatric Aspirin - - -
-- Paediatric Combination Products - - - -
Analgesics
-- Paediatric Dipyrone - - -
-- Paediatric Ibuprofen 4.0 9.2 55.2
-- Paediatric Naproxen - - -
- Adult and Paediatric Systemic 6.0 4.0 21.9
Analgesics
-- Acetaminophen 6.7 4.5 24.5
-- Aspirin -2.8 -3.2 -15.2
-- Combination Products - Analgesics 1.3 2.6 13.5
-- Diclofenac - - -
-- Dipyrone - - -
-- Ibuprofen 1.1 5.2 28.9
-- Ketoprofen - - -
-- Naproxen 3.3 3.2 17.0
-- OTC Triptans - - -
Topical Analgesics/Anaesthetic 3.1 5.7 32.1
Analgesics 4.1 5.1 28.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2020 data is provisional and based on part-year estimates.

Table 3 NBO Company Shares of Analgesics: % Value 2016-2020

% retail value rsp

Company 2016 2017 2018 2019 2020

GSK Consumer Healthcare - - - 32.1 32.9

Singapore Pte Ltd
Haw Par Healthcare Ltd 25.6 25.1 25.2 25.0 24.6
Hisamitsu 16.9 17.0 17.1 17.2 17.2
Pharmaceutical Co Inc
Leung Kai Fook Medical 4.3 4.2 4.2 4.2 4.2
Co Pte Ltd
Kobayashi 2.8 2.8 2.8 2.9 2.9
Pharmaceutical Co Ltd
Borden Co (Pte) Ltd 2.8 2.7 2.7 2.8 2.8
Taisho Pharmaceutical 2.0 1.9 1.9 1.9 1.8
Singapore Pte Ltd
Rohto Pharmaceutical Co 1.9 1.9 1.8 1.9 1.8
Ltd
Reckitt Benckiser (S) 0.7 1.5 1.6 1.5 1.5
Pte Ltd
Ikeda Mohando Co Ltd 0.5 0.5 0.5 0.5 0.5
Bayer (South East Asia) 1.7 0.3 0.3 0.3 0.3
Pte Ltd
Johnson & Johnson Pte Ltd 0.2 0.2 0.2 0.2 0.2

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 5

iNova Pharmaceuticals 0.1 0.1 0.1 0.1 0.1

(S) Pte Ltd
Remedica Ltd 0.1 0.1 0.1 0.1 0.1
United Laboratories Inc 0.1 0.1 0.1 0.1 0.1
Dairy Farm 0.5 0.1 0.1 0.1 0.1
International Holdings
Ltd
Walter Ritter 0.1 0.1 0.1 0.0 0.0
Pharmaceuticals Pte Ltd
GlaxoSmithKline 32.8 32.0 32.0 - -
Singapore Pte Ltd
Novartis Consumer - - - - -
Health (S) Pte Ltd
Others 7.0 9.4 9.3 9.2 9.0
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 4 LBN Brand Shares of Analgesics: % Value 2017-2020

% retail value rsp

Brand (GBO) Company (NBO) 2017 2018 2019 2020

Panadol GSK Consumer Healthcare - - 30.9 31.6

(GlaxoSmithKline Plc) Singapore Pte Ltd
Tiger Balm (Haw Par Haw Par Healthcare Ltd 22.5 22.7 22.6 22.2
Corp Ltd)
Salonpas Hisamitsu 17.0 17.1 17.2 17.2
Pharmaceutical Co Inc
Axe Brand (Leung Leung Kai Fook Medical 4.2 4.2 4.2 4.2
Kai Fook Co Ltd) Co Pte Ltd
Ammeltz Kobayashi 2.8 2.8 2.9 2.9
Pharmaceutical Co Ltd
Eagle Borden Co (Pte) Ltd 2.7 2.7 2.8 2.8
Kwan Loong Oil (Haw Haw Par Healthcare Ltd 2.6 2.5 2.4 2.4
Par Corp Ltd)
Mentholatum Rohto Pharmaceutical Co 1.9 1.8 1.9 1.8
Ltd
Cardiprin (Reckitt Reckitt Benckiser (S) 1.0 1.1 1.1 1.0
Benckiser Group Plc Pte Ltd
(RB))
Counterpain (Taisho Taisho Pharmaceutical 1.0 1.0 1.0 0.9
Pharmaceutical Singapore Pte Ltd
Holdings Co Ltd)
Voltaren GSK Consumer Healthcare - - 0.9 0.9
(GlaxoSmithKline Plc) Singapore Pte Ltd
Tokuhon (Taisho Taisho Pharmaceutical 0.9 0.9 0.9 0.9
Pharmaceutical Singapore Pte Ltd
Holdings Co Ltd)
Mopiko Ikeda Mohando Co Ltd 0.5 0.5 0.5 0.5
Nurofen (Reckitt Reckitt Benckiser (S) 0.4 0.4 0.4 0.4
Benckiser Group Plc Pte Ltd
(RB))
Calpol GSK Consumer Healthcare - - 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)

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 6

Metsal (iNova iNova Pharmaceuticals 0.1 0.1 0.1 0.1

Pharmaceuticals (S) Pte Ltd
(Australia) Pty Ltd)
Remedol Remedica Ltd 0.1 0.1 0.1 0.1
Biogesic United Laboratories Inc 0.1 0.1 0.1 0.1
Guardian (Private Dairy Farm 0.1 0.1 0.1 0.1
Label) International Holdings Ltd
Ethylchloride Walter Ritter 0.1 0.1 0.0 0.0
Pharmaceuticals Pte Ltd
Panadol GlaxoSmithKline 31.2 30.9 - -
(GlaxoSmithKline Plc) Singapore Pte Ltd
Voltaren GlaxoSmithKline 0.5 0.9 - -
(GlaxoSmithKline Plc) Singapore Pte Ltd
Calpol GlaxoSmithKline 0.3 0.3 - -
(GlaxoSmithKline Plc) Singapore Pte Ltd
Bayer Aspirin Bayer (South East Asia) - - - -
(Bayer AG) Pte Ltd
Metsal (Valeant iNova Pharmaceuticals - - - -
Pharmaceuticals (S) Pte Ltd
International Inc)
Tokuhon (Tokuhon Kobayashi - - - -
Corp) Pharmaceutical Co Ltd
Voltaren (Novartis Novartis Consumer - - - -
AG) Health (S) Pte Ltd
Others Others 9.4 9.3 9.2 9.1
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 5 Forecast Sales of Analgesics by Category: Value 2020-2025

SGD million
2020 2021 2022 2023 2024 2025

Systemic Analgesics 21.0 21.2 21.8 22.1 22.6 23.1

- Adult Analgesics 19.5 19.7 20.2 20.6 21.1 21.6
-- Adult Acetaminophen 17.7 17.9 18.4 18.8 19.3 19.9
-- Adult Aspirin 0.8 0.8 0.8 0.8 0.8 0.7
-- Adult Combination 0.6 0.6 0.6 0.6 0.6 0.6
Products - Analgesics
-- Adult Diclofenac - - - - - -
-- Adult Dipyrone - - - - - -
-- Adult Ibuprofen 0.2 0.2 0.2 0.2 0.2 0.2
-- Adult Ketoprofen - - - - - -
-- Adult Naproxen 0.2 0.2 0.2 0.2 0.2 0.2
-- Adult OTC Triptans - - - - - -
- Paediatric Analgesics 1.5 1.5 1.5 1.5 1.5 1.5
-- Paediatric 1.5 1.5 1.5 1.5 1.5 1.5
Acetaminophen
-- Paediatric Aspirin - - - - - -
-- Paediatric - - - - - -
Combination Products -
Analgesics
-- Paediatric Dipyrone - - - - - -
-- Paediatric Ibuprofen 0.1 0.1 0.1 0.1 0.1 0.1
-- Paediatric Naproxen - - - - - -
- Adult and Paediatric 21.0 21.2 21.8 22.1 22.6 23.1
Systemic Analgesics
-- Acetaminophen 19.2 19.4 19.9 20.3 20.8 21.3

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 7

-- Aspirin 0.8 0.8 0.8 0.8 0.8 0.7

-- Combination Products 0.6 0.6 0.6 0.6 0.6 0.6
- Analgesics
-- Diclofenac - - - - - -
-- Dipyrone - - - - - -
-- Ibuprofen 0.3 0.3 0.3 0.3 0.3 0.3
-- Ketoprofen - - - - - -
-- Naproxen 0.2 0.2 0.2 0.2 0.2 0.2
-- OTC Triptans - - - - - -
Topical Analgesics/ 39.4 41.7 43.9 45.7 47.5 48.9
Anaesthetic
Analgesics 60.5 62.9 65.6 67.8 70.1 72.0
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2020 data is provisional and based on part-year estimates.

Table 6 Forecast Sales of Analgesics by Category: % Value Growth 2020-2025

% constant value growth

2020/2021 2020-25 CAGR 2020/25 Total

Systemic Analgesics 1.0 1.9 10.0

- Adult Analgesics 1.0 2.0 10.6
-- Adult Acetaminophen 1.2 2.3 12.3
-- Adult Aspirin -3.5 -2.1 -10.2
-- Adult Combination Products - -0.2 -1.0 -5.1
Analgesics
-- Adult Diclofenac - - -
-- Adult Dipyrone - - -
-- Adult Ibuprofen 0.5 0.4 1.9
-- Adult Ketoprofen - - -
-- Adult Naproxen 2.1 1.0 5.2
-- Adult OTC Triptans - - -
- Paediatric Analgesics 0.6 0.4 1.8
-- Paediatric Acetaminophen 0.5 0.3 1.7
-- Paediatric Aspirin - - -
-- Paediatric Combination Products - - - -
Analgesics
-- Paediatric Dipyrone - - -
-- Paediatric Ibuprofen 1.6 0.9 4.3
-- Paediatric Naproxen - - -
- Adult and Paediatric Systemic 1.0 1.9 10.0
Analgesics
-- Acetaminophen 1.2 2.2 11.4
-- Aspirin -3.5 -2.1 -10.2
-- Combination Products - Analgesics -0.2 -1.0 -5.1
-- Diclofenac - - -
-- Dipyrone - - -
-- Ibuprofen 0.8 0.5 2.5
-- Ketoprofen - - -
-- Naproxen 2.1 1.0 5.2
-- OTC Triptans - - -
Topical Analgesics/Anaesthetic 5.6 4.4 23.9
Analgesics 4.0 3.5 19.0
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2020 data is provisional and based on part-year estimates.

© Euromonitor International
ANALGESICS IN SINGAPORE Passport 8

© Euromonitor International