Global Consumer Healthcare Market is valued approximately at USD XXX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2019-2026. Consumer healthcare are the products that aid in wellness, oral health, nutrition and skin health. These are mainly over the counter drugs which are sold directly to the consumer without the prescription from a healthcare professional. The major factors that contribute towards the growth of the market are high demand for self-medication coupled with rising health awareness. As the concerns regarding health increases, the inclination of people towards taking daily medicines such as vitamins, protein and other form of supplements increases. These inclination towards such kind of drugs drive the market for Consumer healthcare as these are available without prescription. Moreover, with the changing lifestyle the population is getting prone to contracting diseases, deterioration in mental health further propels the demand for OTC drugs. For instance, consumers with mild gastrointestinal conditions use gastrointestinal drugs such as laxatives, antidiarrheals, and digestives. The practice of self-medication also reduces the pressure on medical services and is easily accessible to patients in rural areas. Further the growing aging population across the globe coupled with new and effective medicinal treatments available increase the demand for OTC drugs positively impacting the Consumer Healthcare market. As per the United Nations report, the global population aged over 60 years amounted to 962 million in 2017 which is double than its count in 1980 when there were only 382 million old people across the globe. Further, the organization projected the number to double again by 2050 and to reach over 2.1 billion. However, stringent government regulations and availability of counterfeit products impedes the growth of the market over the forecast period of 2020-2026. Although, increasing sources of consumer healthcare through the newly added online pharmacy presents a growing trend supporting the market growth. While, huge investments in the sector through key market players for the development of advanced consumer healthcare products presents a wide opportunity for the market growth. As in November 2019, GlaxoSmithKline plc announced an investment of USD 16.7 million to expand its Consumer Healthcare research and development center in Virginia, US. Thus, aiding the market growth through increasing product portfolio.
The regional analysis of global Consumer Healthcare market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the largest pharmaceutical market in the region due to the presence of key players such as Pfizer and other such brands. Further, increasing awareness regarding health awareness and self-medication further drives the market growth in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising geriatric population coupled with increasing prevalence of online pharmacy stores would create lucrative growth prospects for the Consumer Healthcare market across Asia-Pacific region.
Major market player included in this report are:
Johnson & Johnson
Merck & Co.
Novartis International AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Consumer Healthcare Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers