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OTC Consumer Health Products Market (Type - Skin Care Products, Nutritional Supplements, Oral Care Products, Wound Care Management Products, Gastrointestinal Products, and Others; Distribution Channel - Hospital Pharmacy, Independent Pharmacies, Departmental Stores, Online Sales, and Other): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : February, 2022

  • Rep Id : HC08757

  • Category : Healthcare & Medical Devices

  • Status : Published

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.

 

Market Insight

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.

 


OTC Consumer Health Products Market


Segment Covered

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.

 

Companies Profiled:

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 Laboratories.

 

Report Highlights:

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.


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