A recent report published by Infinium Global Research on OTC consumer health products market provides an in-depth analysis of segments and sub-segments in the global as well as regional OTC consumer health products market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional OTC consumer health products market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global OTC consumer health products market. According to the report, the global OTC consumer health products market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
The OTC consumer healthcare products sector represents a highly the dynamic scenario for growth and innovation, with consumer demand constantly growing towards products pursuing different health needs, and the desire for efficient offerings with smart technology. OTC consumer health products include OTC pharmaceutical products and nutritional supplements and sports nutrition products, among others. Several top players are focusing on implementing a slew of inorganic growth strategies in order to consolidate their position in the global market. In addition, these players are increasingly making tie-ups with local players in several parts of emerging economies, with an aim to gain a better foothold over the global market.
Rising population coupled with increasing awareness regarding lifestyle diseases amongst the population is the major driving factor of the OTC consumer health products market. The demand for OTC consumer health products is increasing owing to rising penetration of lifestyle diseases due to poor lifestyle choices. Furthermore, factors such as high demand for self-medication, increasing healthcare costs, growing geriatric population, deterioration in mental health, and shift from medication prescription to OTC products are other driving factors of the market growth. However, the presence of fake medicines and other consumer health products hampers the growth of the OTC consumer health products market. Moreover, enhanced use of online sources, along with the increasing demand for branded products, private labels, and OTC generics are anticipated to provide lucrative growth opportunities to the market players.
Geographically, North America dominates the global OTC consumer health products market due to the high disposable income of the consumers and high expenditure on health care products. Additionally, the U.S. is the largest market of OTC consumer health products in the North America region. Europe is the second-largest market of OTC consumer health products owing to growing awareness regarding lifestyle diseases in this region.
The report on global OTC consumer health products market covers segments such as indications, and distribution channel. On the basis of indications, the sub-markets include skin care products, nutritional supplements, oral care products, wound care management products, gastrointestinal products, and other indications. On the basis of distribution channel, the sub-markets include hospital pharmacy, independent pharmacies and retail stores, hypermarkets and supermarkets, online sales, and other distribution channels.
The report provides profiles of the companies in the market such as Bayer AG, Sanofi S.A., Glenmark Pharmaceuticals Ltd., American Health, Piramal Enterprises Ltd., Johnson & Johnson, Pfizer, Inc., GlaxosmithKline plc, Abbott Laboratories, Sun Pharmaceuticals Ltd., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of OTC consumer health products market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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