About Health Product
With the increase in Increasing Healthcare Expenditure Healthcare products and effective and better Healthcare Facilities among Elderly Population are driving the global healthcare product market. Healthcare products are the products that provide an extensive variety of the food and beverage industry united with beauty product industry globally. These products refer to substances such as Vitamins and minerals, herbal medicines, homeopathic preparations, energy drinks, probiotics, alternative and traditional medicines. The health care product is often defined as a service.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The market is fragmented by many players who are in a competitive environment wherein health care providers (hospitals, HMOs, physicians, and others) are constantly searching for better products and better means for delivering them.The Players having a strong hold in the market are Pfizer. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Health Product 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.
Pfizer (United States), Nestle (Switzerland), Arbonne (United States), GSK (U.K), Procter & Gamble (United States), PROVANT health Solutions (United States), ADH (United States), Agel (Europe), Nature’s Sunshine Products(United States), Nature’s Way Product (United States), Neways International (United States), Zija International (United States), The Kraft Heinz Company (United States) and Walgreen Co. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are General Nutrition Centers Inc. (United States), Swanson Health products (United States) and Health products distributors Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Health Product market by Type (Food tolerance, Fortified food products and Others), Application (Hospital, Pharmacy, Clinics, Household and Others) and Region.
On the basis of Type, Functional food Segment are dominating the market in the year 2023On the basis of geography, the market of Health Product 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution channel, the sub-segment i.e. Supermarket will boost the Health Product market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Food Category, the sub-segment i.e. Beverages will boost the Health Product market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Consumption of Organic diet and Young consumers in the developing countries are willing to pay premiums for health products as a result of increasing importance in physical fitness.
Market Growth Drivers:
Growing consumer awareness about organic food and healthy eating habits, Increase in urban population their rising disposable income leading to change in lifestyle., The buying power of consumers and increasing concern regarding physical fitness., Increase in the incidence of chronic diseases such as Diabetes, Blood pressure etc. and Growing ageing population.
Challenges:
Understanding market and stakeholder dynamics, Identifying and validating needs and Secure and adequate funding.
Restraints:
Vendors are using organic ingredients in various health products instead of artificial ingredients which are harmful to the body.
Opportunities:
Rise in importance of natural and organic food for organic food manufacturers in the coming years. and Rapidly Increasing various stores ie Hypermarket, Supermarket retail stores leading to demand of healthy products
Market Leaders and their expansionary development strategies
-Apr. 4, 2022-- IFF acquired of Health Wright Products, LLC (HWP), a leader in formulation and capsule manufacturing for the dietary supplement industry and a long-time business partner of IFF’s Health & Biosciences probiotics business.
In September 2020, Royal Philips a global leader in health technology, today presented new approaches to health and healthcare, and the shift to health-at-home, at its virtual consumer health press event. Philips announced expansion of its consumer health portfolio with a range of innovations to help people maintain health-enhancing lifestyle routines, and digital opportunities that allow them to stay in touch with their healthcare professionals virtually now that physical doctors’ visits are limited.
PM-JAY (Pradhan mantri Jan Arogya Yojana) to protect poor and vulnerable families against financial risk arising out of catastrophic health episodes by National Health Agency under Society Registration Act, 1960.
Key Target Audience
Developers and Manufacturers, Suppliers and Distributors, Health care providers and Government and Regional agencies
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.