Industry Background:
Consumer Healthcare Products are deals with skin care, wellness, oral health, nutrition and others. This products are consists of over-the counter drugs that directly sold to customer without any prescription from a healthcare professional. Consumer Healthcare Products market is expected to mark significant growth over forecasted period owing to increasing self- medication and technological advancement. There has been significant rise in number of people suffer from allergy with figure stood up to 77% in United States alone in 2015, this figure indicate the future for consumer healthcare products looks promising. This result in rising popularity of tie-ups of regional players and escalating need for various nutritional supplements may trigger demand and help in industry expansion.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Pfizer,Inc. (United States), Bayer AG (Germany), Abbott Laboratories (United States), GlaxoSmithKline plc (United Kingdom), Sanofi S.A. (France), GSK (United Kingdom), Mylan (United States), Johnson & Johnson (United States) and Merck (United States) |
According to AMA, the market for Consumer Healthcare Products is expected to register a CAGR of 3.8% during the forecast period to 2028. This growth is primarily driven by Increase in Demand of Self-Medication Leads to Boost the Market. and Increasing Prevalence of Lifestyles Diseases Fuelled up the Consumer Healthcare Products Market..
Globally, a noticeable market trend is evident Rising Demands of Sports Nutrition Products
The Health Care sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Pfizer,Inc. (United States), Bayer AG (Germany), Abbott Laboratories (United States), GlaxoSmithKline plc (United Kingdom), Sanofi S.A. (France), GSK (United Kingdom), Mylan (United States), Johnson & Johnson (United States) and Merck (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2018, P&G completely acquired Merck KGaA with a deal of 3.8 USD Billions. This acquisition is beneficial in providing broad range of OTC products to relieve muscle, joint and back pain, colds and headaches as well as products for supporting physical activity and mobility.
In August 2018, Abbott India launched around 100 products over next 5 years which is beneficial in providing existing therapy such as central nervous system, metabolics, vaccines and others. It also offers improved medications due to increased penetration of technology and insights.
Regulatory Insights:
“According to U.S. Food and Drug Administration (FDA), its delivers regulation upon nonprescription, or over-the-counter (OTC) medicine. The administration has found to be safe and effective for direct consumer use based on the label instructions and warnings. FDA requires a wider margin of safety for OTC medicines than for prescription drugs.”
Influencing Trend:
Rising Demands of Sports Nutrition Products and Collaboration and Tie Up Of Leading Players
Market Growth Drivers:
Increase in Demand of Self-Medication Leads to Boost the Market. and Increasing Prevalence of Lifestyles Diseases Fuelled up the Consumer Healthcare Products Market.
Challenges:
Limitation on Government Rules and Regulation are Anticipated to Challenge the Market. and Fluctuation Of Raw Materials
Restraints:
Direct Selling Or Door-To-Door Selling Hampers the Healthcare Products Market. and Stiff Competition between the Major Players in term of Discounts and Incentives.
Opportunities:
Proliferation Usage of Smartphones and Social Media Reach Leads to Grow the Healthcare Products Market. and Upsurge Demand Due to Vast Disposable Incomes of People in Developing Countries.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Consumer Healthcare Products Market
- Analysis about New Entrants in Consumer Healthcare Products Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Consumer Healthcare Products Study Sheds Light on
The Consumer Healthcare Products Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Consumer Healthcare Products industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Consumer Healthcare Products industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.