About Consumer Healthcare
Consumer healthcare is an industry-coined term which is centered around empowering individuals to self-manage their health. This was traditionally achieved through over-the-counter medications and the consumer-health care movement was largely led by the pharmaceutical companies. A heavily regulated sector, healthcare is one of the few industries that has so far largely evaded the wave of digital disruption that many other consumer-facing verticals such as media and. For the average care-seekers, the healthcare experience has remained largely the same as it was ten years ago. A new market of consumer-focused healthcare products is emerging to occupy the space between consumer goods and pharmaceuticals-and becoming a battleground that giants in both industries are gearing up to dominate. Consumer healthcare consists of over-the-counter drugs that directly sold to customers without any prescription from a healthcare professional. Today, consumers want solutions that allow them to take charge of their own health, and to be an informed stakeholder in their health decisions. Consumers want better, easier, self-serve ways to manage and improve their health and they are getting it with an increasing range of health management options as a result of easier and less expensive access to health information and products. This growth presents significant opportunities for manufacturers, retailers, and other stakeholders in the industry.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
CAGR | 7.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Consumer Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Procter & Gamble (P&G) (United States), Pfizer (United States), Johnson & Johnson (United States), Novartis International AG (Switzerland), GlaxoSmithKline (United Kingdom), Sanofi (France), Abbott Laboratories (United States), Teva Pharmaceutical Industries Ltd. (Israel), Bayer AG (Germany) and Perrigo Company plc (Ireland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Haleon plc (United Kingdom), Merck (United States), Sun Pharmaceuticals Ltd. (India), Glenmark Pharmaceuticals Ltd. (India) and Piramal Enterprises Ltd. (India).
Segmentation Overview
AMA Research has segmented the market of Global Consumer Healthcare market by Type (OTC Pharmaceuticals, Dietary Supplements and Herbal Products) and Region.
On the basis of geography, the market of Consumer Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. E-Commerce will boost the Consumer Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price Range, the sub-segment i.e. Budget will boost the Consumer Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Digital Platforms Provide Health Care Services
Market Growth Drivers:
Rising Demand for Self-Medication and Growing Demands of Sports Nutrition Products
Challenges:
Government Rules and Regulation are anticipated to Challenge the Market
Restraints:
Stiff Competition between the Major Players in term of Discounts
Opportunities:
Proliferation Usage of Smartphones and Social Media Reach Leads to Grow the Healthcare Products Market
Market Leaders and their expansionary development strategies
In October 2023, Bayer and Sanofi entered into the partnership for consumer healthcare businesses. This partnership combines Bayer's OTC brands like Aleve and Claritin with Sanofi's Allegra and Zantac, creating a new leader in the global allergy and cold care market.
In September 2023, Bio Oil launched their product Dry Skin Gel which appears to be a promising option for those seeking a fragrance-free, hydrating solution for dry and sensitive skin. With its combination of nourishing oils and hyaluronic acid, it aims to deliver deep moisture and comfort while being gentle enough for even the most delicate skin.
The over-the-counter (OTC) medicine industry is regulated by several government agencies, including the U.S. Food and Drug Administration, the U.S. Federal Trade Commission, and the U.S. Consumer Product Safety Commission.
Key Target Audience
Consumer Healthcare Products Manufacturers, Consumer Healthcare Products Traders, End-Use Market Participants of Different Segments of Consumer Healthcare Products, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.