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.
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 Stakeholders
- This 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 Segments
By Product
- OTC Pharmaceuticals
- Personal Care Products
- Dietary Supplements
By Distribution Channel
- Online
- Offline
- Type
- Supermarkets and Hypermarkets
- Pharmacies
- Others
By Region
- North 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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONSUMER HEALTHCARE MARKET, BY PRODUCT
CHAPTER 5: CONSUMER HEALTHCARE MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 6: CONSUMER HEALTHCARE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Consumer Healthcare Market,' The consumer healthcare market was valued at $280.1 billion in 2022, and is estimated to reach $574.4 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.The Consumer healthcare Market is likely to experience a significant growth rate of 7.5% from 2023-2032 owing to increasing market demand from dietary supplements and personal care medications.
Consumer healthcare deals with products in wellness, oral health, nutrition, and skin health. Consumer healthcare products mainly constitute over-the-counter (OTC) drugs that include medicines, which are sold directly to a consumer without a prescription from a healthcare professional. These over-the-counter (OTC) drugs includes anti-allergy drugs, antacids and painkillers.
Key factors driving the growth of the consumer healthcare market include the rise in the prevalence of migrane and pain disorders, the surge in the geriatric population and the growing adoption of consumer healthcare products to facilitate faster treatment of acute health conditions such as pain and diarrhea. Moreover, increasing awareness about day-to-day healthcare, rise in demand for dietary supplements and continuous developments in the field of consumer healthcare are expected to notably contribute toward the market growth. Furthermore, the global consumer healthcare market growth is largely driven by factors such as an increase in advancements of consumer healthcare products which is expected to surely lead to the growth of the market. Prominent players in the global consumer healthcare market such as Haleon (gsk), Johnson & Johnson, and Sanofi have opted various strategies such as product launch, acquisition, and investments in R&D for advancement in consumer healthcare to strengthen their position in the market and sustain the competitive environment. A significant increase in awareness about the advantages of consumer healthcare products and increase in the usage of consumer healthcare products to maintain health and rise in the concern for persona healthcare are some of the key factors driving the growth of the market.
The major factors that contribute to the growth of the consumer healthcare market include high demand for self-medication, growing healthcare costs, increasing geriatric population who are more prone to contracting diseases, deterioration in mental health, and shift from medication prescription to OTC products. Moreover, the approval of wellness & preventive medicine and a rise in disposable income further boosts the market growth. However, stringent governmental regulations and the presence of counterfeit pharmaceuticals restrain the market. On the contrary, development & accelerated use of online sources, along with the increasing demand for branded products, private labels, and OTC generics will further provide numerous opportunities in the near future.
However, stringent government regulation and poor patient compliance with the use of consumer healthcare products may hamper restricts the market growth. Conversely, the increase in the sales of consumer healthcare products through online platforms has changed the market dynamics in the forecast period and is expected to provide lucrative opportunities for the growth of the market. Extensive R&D activities in the field of consumer healthcare along with significant improvement in medical supplies 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 consumer healthcare market is classified into OTC pharmaceuticals, and dietary supplements. By distribution channel, it is fragmented into online and offline. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, 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).
The key players profiled in the study include Johnson & Johnson, Sanofi, Pfizer Inc., Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., Bayer AG, Amway, and BASF SE. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch, partnership, product approval and product development to remain competitive and gain an advantage over the competitors in the market.
Key Market Insights (Updated)
- By product, the OTC pharmaceuticals consumer healthcare segment was the highest revenue contributor to the market and is estimated to continue this during the analysis period, with a CAGR of 7.4%. However, the dietary supplements consumer healthcare segment is estimated to be the fastest-growing segment with a CAGR of 7.8% during the forecast period.
- By distribution channel, the offline segment was the highest revenue contributor to the market and is estimated to continue this during the analysis period, with a CAGR of 7.4%. However, the online segment is estimated to be the fastest-growing segment with a CAGR of 7.9% during the forecast period.
- Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 8.9% during the forecast period.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 270 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 280.1 billion |
| Forecasted Market Value ( USD | $ 574.4 billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
