Best Over-The-Counter (OTC) Products to Bulk Buy for Pharmacy
The healthcare industry is facing serious challenges as more people are dealing with chronic and infectious diseases. Since the COVID-19 outbreak, many have become increasingly aware of the importance of taking care of their health. Recently, the World Health Organization (WHO) also announced an outbreak of Mpox (Monkeypox), a viral infection that spreads through close contact. This news has sparked fear of infection, remembering the early days of the COVID-19 pandemic. As a result, more people are turning to pharmacies in search of Over-The-Counter (OTC) products such as masks, hand sanitizers, and a range of medications that help protect against infections.
These examples show that it is important for pharmacies to keep up with this rising demand and your pharmacy needs to identify the best OTC products to purchase in bulk. To maximize your resources and meet customer demand, it’s important to seek strong relationships in the supply chain. One of the best solutions is partnering with trusted pharmaceutical distributors and wholesalers, which allows you to restock your inventory at competitive prices.
In this article, we will explore the various types of OTC products that are ideal for bulk buying and how you can take advantage of these opportunities to better serve your customers.
In the pharmaceutical industry, pharmacists need to understand the role of wholesalers. It’s important to know how medications move from manufacturers to pharmacies, as this process can impact your pharmacy’s operations and efficiency.
Key Consumer Insights on OTC Products in Malaysia
Here’s a concise summary of the key statistics regarding Malaysian consumers and OTC products:
- 64.6% of Malaysians purchase OTC medications for personal use
- 92.3% of people purchase OTC products at pharmacies
- OTC products are preferred for their convenience and affordability than prescription drugs
- 60% of OTC products are sold in private clinics, while 40% are purchased from pharmacies.
- The average monthly spending on medicines is RM135.20 at pharmacies and RM296.98 at private hospitals.
- The population is projected to reach 40.7 million by 2025, increasing demand for healthcare products.
What OTC Products Best to Buy in Bulk
When considering which OTC products to buy in bulk for pharmacies in Malaysia, certain categories stand out based on consumer demand and market trends. Here are the key products recommended for bulk purchasing:
1. Vitamins and Supplements
As a pharmacy owner, you may have noticed that a significant number of your customers are seeking vitamins and supplements. According to the National Survey on the Use of Medicines (NSUM) among Malaysian consumers, 21.5% to 31.8% reported using these products. This substantial percentage highlights a growing trend in self-medication and health consciousness among Malaysians.
Since OTC products are non-prescription medications, they provide your customers with convenient access to health solutions. This trend encourages pharmacies like yours to stock up on these products in bulk to better meet consumer needs.
The vitamins and supplements category includes a diverse range of products, from multivitamins and vitamin C to specialized formulations for different demographics like adults, seniors and children. By offering these products, your pharmacy can cater to a wide audience and support their health and wellness goals.
Followings are some categories that high in demand:
- Multivitamins
- Vitamin C
- Vitamin D
- Iron Supplements
- Fish Oil (Omega-3 Fatty Acids)
- B Vitamins (e.g., B12, B6)
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2. Analgesics
As Malaysia’s population is set to hit around 40.7 million by 2025, along with a longer life expectancy of 75.1 years, we can expect to see more people dealing with chronic pain. This means the demand for analgesics is on the rise and many are looking for reliable solutions to help ease their discomfort.
Common OTC pain relievers like paracetamol, ibuprofen, and aspirin are favorites among shoppers for their effectiveness in treating mild to moderate pain. Moreover, these products are trusted by consumers who want quick relief without the hassle of prescriptions.
For your pharmacy, it makes perfect sense to prioritize these analgesics in your bulk buying plans. By stocking up on these main products, you will be ready to meet your customers’ needs and help them find the relief they are searching for.
Here’s a list of common (OTC) analgesics (pain relievers) that pharmacies typically stock:
- Acetaminophen (Paracetamol)
- Ibuprofen
- Aspirin
- Naproxen
- Topical Analgesics
3. Cold & Cough Remedies
Malaysia’s tropical climate often brings about weather-related health issues like allergies and respiratory infections. Because of this, there’s a consistent demand for cold and cough remedies. With a large population and a growing middle class, the need for healthcare products, including cold and cough solutions, is on the rise.
One noticeable trend in the cold and cough market is the increasing demand for natural and herbal remedies. Many customers today are more mindful of the ingredients in the products they use and are looking for alternatives to traditional medicines.
Cough patches are becoming more popular, especially for people who can’t take regular medicine, like pregnant women, young children, or those with certain health conditions. These patches are easy to use and can help relieve coughing without needing to take medicine by mouth. They are applied to the skin and work over time to ease symptoms. Having cough patches in your pharmacy can help customers who prefer a safe and simple option for treating their cough.
People in Malaysia also prefer the convenience of over-the-counter cold and cough products. This shift is driven by the growing awareness of self-care and managing minor health issues at home. Stocking these products in your pharmacy can help you meet this demand while offering your customers an accessible and convenient solution.
4. Wound Care
Nowadays, customers are seeking wound care products that go beyond traditional options to fulfill what a first aid box needs. The pharmacy is often the first choice for first aid supplies and special dressings. They want products that heal faster, are easy to use, and deliver effective outcomes. Customers are willing to invest in trusted brands that deliver proven results, especially those that are convenient and comfortable to apply.
For your pharmacy, this means you need to stock a wide range of advanced wound care products that meet these demands. Products like hydrocolloid dressings or silicone foam dressings are popular because they provide better protection, reduce the risk of infection, and improve the healing process. Hypoallergenic dressings are are designed for sensitive skin and help minimize irritation or allergic reactions. These dressings offer a safe and comfortable option for customers with allergies or those prone to skin sensitivities, making them a valuable choice for anyone looking for effective wound care.
Another consideration is the rise of chronic wounds like diabetic foot ulcers and pressure ulcers, especially among older adults. You might need to consider having the right wound care products available on your shelves. Stocking options like antimicrobial dressings and pressure-relieving bandages can make your pharmacy the go-to place for customers seeking reliable wound care solutions.
5. Eye Care
When it comes to eye care, your customers are looking for effective solutions like lubricating eye drops, antihistamine drops, and nutritional supplements. These OTC products provide relief from dry eyes, allergies, and even support long-term vision health which allows your customers to manage their symptoms conveniently at home.
With nearly 40% of Malaysians experiencing symptoms related to digital eye strain, there’s a strong need for products that contain natural ingredients and fewer preservatives. Your pharmacy has a great opportunity to cater to the eye care needs of your customers by offering a wide range of products, including artificial tears, ointments, washes, and drops that address irritation and other common issues.
6. Hand Sanitizers and Masks
Given the sustained demand for health and hygiene products post-COVID 19, pharmacies should consider investing in bulk purchases of hand sanitizers and masks. Consumers have become more aware of cleanliness and hygiene practices since the pandemic. They are particularly drawn to natural sanitizers or alcohol free that are gentle on their skin, making hygiene a more pleasant experience. Plus, with pocket-sized sanitizers becoming increasingly popular, many people will use it while on the go.
