A recent report published by
Infinium Global Research on the OTC consumer health products market provides
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 the global OTC consumer health products market. According to the report,
the global OTC consumer health products market is projected to reach USD 231 billion by 2027 from USD 179 billion in 2021, growing at a CAGR of 4% over the
forecast period of 2021-2027.
The OTC consumer healthcare
products sector represents a highly 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.
The 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 the rising penetration of
lifestyle diseases due to poor lifestyle choices. Furthermore, factors such as
high demand for self-medication due to health awareness, increasing healthcare
costs, growing geriatric population, deterioration in mental health in some
countries around 20% of the total population, will 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, OTC Consumer
Health Products Market is segmented in North America, Europe, Asia Pacific,
Latin America, and the Middle East & Africa region. 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 American region. Europe is the second-largest market of OTC consumer
health products owing to growing awareness regarding lifestyle diseases in this
region. However, the Asia Pacific region is expected to record the highest
growth during the forecast period, because of demographic factors such as
rising customer concern about health and increasing product availability at
pharmaceutical and departmental stores.
The report on global OTC consumer
health products market covers segments such as type, and distribution channel.
On the basis of type, the sub-markets include skin care products, nutritional
supplements, oral care products, wound care management products,
gastrointestinal products, and others. On the basis of distribution channel,
the sub-markets include hospital pharmacy, independent pharmacies, departmental
stores, online sales, and other.
The report provides profiles of
the companies in the market such as Pfizer, Inc., Sanofi S.A, Bayer AG,
American Health, Glenmark Pharmaceuticals Ltd., Piramal Enterprises Ltd.,
Johnson & Johnson, GlaxosmithKline plc, Sun Pharmaceuticals Ltd., and Abbott
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 the OTC consumer health products market. Moreover, the study highlights
current market trends and provides forecast from 2021-2027. 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.