Slow growth for health and personal care products
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The annual growth rate for sales of health and personal care products in 2009 was at its lowest rate since 1998. Annual sales rose 3.7% from 2008, reaching $38.6 billion, compared with a 4.2% increase in 2008 from 2007.
Sales of prescription drugs contributed the most to the overall growth in health and personal care products, increasing 5.2% in 2009, matching the increase reported in 2008.
Over-the-counter drugs, vitamins, herbal remedies and other health supplements also contributed to overall growth, increasing 3.9% in 2009. Combined, the sales of all drugs, vitamins and other health supplements grew 4.9%, generating nearly $26.3 billion.
In 2009, pharmacies and personal care stores accounted for almost 70% of sales of health and personal care products, similar to 2008. General merchandisers' share of the market for health and personal care products increased at the expense of food and beverage stores mainly because of personal care, health and beauty products.
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