Consumer Healthcare Market By Product (OTC Pharmaceuticals, Personal Care Products, Dietary Supplements), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global consumer healthcare market was valued at $280.1 billion in 2022, and is projected to reach $574.4 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.Consumer healthcare products includes the non-prescription drugs such as analgesics, antacids, skin care products, nutraceuticals, and personal hygiene products. In addition, consumer healthcare products also include oral care products and cosmetics that are used to treat any kind of skin or hair disease conditions.
The growth of the consumer healthcare market is driven by surge in demand of skin care products, increase in trend of self-buying healthcare products, and rise in access to the healthcare literatures. Moreover, large consumer healthcare products firms all over the world increasingly focus on acquiring companies that provide best consumer healthcare products, which is expected to notably contribute toward the market growth. For instance, in April 2023, WellSpring Consumer Healthcare, a developer and marketer of leading over-the-counter and personal care brands, announced the acquisition of Iconic OTC Skin Care, a portfolio of well-recognized and trusted over-the-counter (OTC) skin care brands from Bayer AG.
Furthermore, the global consumer healthcare market growth is largely driven by factors such as significant rise in demand of vitamins and minerals by people in post pandemic situation to maintain their physical health, and various initiatives by manufacturing companies to promote their consumer healthcare products, and the increase in trend of buying online products. Prominent players in the global consumer healthcare market have opted various strategies such as product launches, acquisition, and investments in R&D for development of customized consumer centric healthcare products to strengthen their position in the market and sustain the competitive environment.
An alarming increase in prevalence of infectious diseases and skin diseases across the globe is one of the key factors that drive the growth of the market. However, the stringent government regulations and misuse of consumer healthcare products restrict the market growth. Conversely, the increase in demand for nutraceuticals and the awareness about personal health, especially among patients in emerging nations, are expected to provide lucrative opportunities for the growth of the market in the near future. Extensive R&D activities in the field of consumer healthcare along with significant improvement in healthcare infrastructure are anticipated to open new avenues for the expansion of the market.
The consumer healthcare market is segmented on the basis of product, distribution channel, and region. On the basis of product, the market is categorized into OTC pharmaceuticals, personal care products and dietary supplements. On the basis of distribution channel, the market is classified into online and offline. The offline segment is further classified into supermarkets and hypermarkets, pharmacies, and others. On the basis of region, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major companies profiled in the report include Johnson & Johnson, Sanofi, Pfizer Inc., Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., Bayer AG, Amway, and BASF SE.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the consumer healthcare market analysis from 2022 to 2032 to identify the prevailing consumer healthcare market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the consumer healthcare market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global consumer healthcare market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ProductOTC Pharmaceuticals
Personal Care Products
Dietary Supplements
By Distribution ChannelOnline
Offline
Type
Supermarkets and Hypermarkets
Pharmacies
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
GlaxoSmithKline plc
Sanofi S.A.
BASF SE
Johnson & Johnson
Pfizer Inc.
BOEHRINGER INGELHEIM INTERNATIONAL GMBH
Amway Corp.
Teva Pharmaceutical Industries Limited
Bayer AG
Abbott Laboratories
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