In 2022, the global consumer healthcare market reached a valuation of $280.1 billion, with projections indicating it will surge to $574.4 billion by 2029, representing a robust CAGR of 7.9% from 2023 to 2029. The consumer healthcare market encompasses a wide array of products spanning wellness, oral health, nutrition, and skin health. Notably, it is characterized by over-the-counter (OTC) drugs, which are medications available directly to consumers without requiring a prescription from a healthcare professional.
The COVID-19 pandemic has left an indelible mark on various industries, and the consumer healthcare market is no exception. Remarkably, the pandemic has yielded positive effects within this sector. A key consequence of the pandemic on the consumer healthcare market has been the substantial uptick in the adoption of remote healthcare services. Hospitals and healthcare providers have shifted their focus toward telemedicine and remote treatment modalities, leading to a surge in the utilization of healthcare apps. This surge, in turn, has resulted in a heightened demand for consumer healthcare products.
The consumer healthcare market is propelled by a multitude of factors, including the growing demand for patient-centric treatments and enhancements in healthcare infrastructure. Among the primary drivers is the increasing trend of self-medication, driven by rising healthcare costs, an expanding geriatric demographic more susceptible to illnesses, deteriorating mental health, and the transition from prescribed medications to over-the-counter (OTC) products. Additionally, the approval of wellness and preventive medicines, coupled with an upswing in disposable income, further amplifies the growth of the consumer healthcare market.
Moreover, the burgeoning geriatric population is poised to significantly contribute to the expansion of the consumer healthcare market. According to the World Health Organization (WHO), by the year 2050, the global population of individuals aged 60 years and older is projected to reach a staggering 2.1 billion. The elderly demographic, specifically those aged 65 years and above, is experiencing rapid growth across the globe. This segment is particularly susceptible to age-related ailments, such as digestive disorders and muscular discomfort, which in turn, fuels the demand for OTC pharmaceuticals and dietary supplements.
Moreover, the market growth is bolstered by a surge in manufacturer-backed advertising campaigns. Additionally, companies are keenly attuned to consumers' needs and are crafting tailored products to meet those demands, thereby fostering the adoption of these consumer healthcare products.
Nevertheless, the market is impeded by rigorous government regulations and the prevalence of counterfeit pharmaceuticals. Conversely, the proliferation and accelerated utilization of online resources, coupled with an uptick in the demand for branded products, private labels, and over-the-counter (OTC) generics, are poised to unlock myriad opportunities in the foreseeable future.
The consumer healthcare market is segmented into Product and Distribution Channel.
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, personal care products and dietary supplements. By distribution channel, it is fragmented into online and offline. Region wise, the market is analyzed 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).
On the basis of product, the consumer healthcare market is classified into OTC pharmaceuticals, personal care products and dietary supplements. The OTC pharmaceuticals segment accounted for the largest Consumer Healthcare Market Share in 2022 owing to its growing trend for self medication and rise in access to healthcare litureture. However, dietary supplements is projected to register the highest CAGR during the Consumer Healthcare Market Forecast period owing to the increase in demand of dietary supplements and growth in awareness about day to day healthcare.
By Distribution Channel:
On the basis of distribution channel, the market is segmented into online and offline. The offline segment occupied the largest Consumer Healthcare Market Size in 2022 owing to the easy access to offline stores. However, online is projected to register the highest CAGR during the forecast period owing to the rise in trend of online shopping and discounts offered by online platforms.
Regionally, North America is poised to experience the highest revenue growth, driven by the population's increased adoption of consumer healthcare products, growing awareness of dietary supplements, and a surge in healthcare infrastructure. The rising healthcare expenditure in emerging economies is expected to present lucrative opportunities for market expansion. Furthermore, the introduction of various products and strategies employed by key players, such as acquisitions, collaborations, and agreements, play a significant role in driving the growth of the consumer healthcare market.
Meanwhile, Asia-Pacific is set to witness notable growth, attributed to factors like increased per capita spending, a proliferation of consumer healthcare startups, and rising disposable incomes. The region boasts a large population, including a significant number of elderly individuals who are at a higher risk of developing cardiovascular diseases, thereby boosting the demand for consumer healthcare products. Additionally, there is a growing awareness of patient-centric treatment approaches in the region, with manufacturers keenly attuned to consumer needs and developing customized products.
Furthermore, India has emerged as a global hub for the consumer healthcare industry due to the growing trend of self-medication and increased demand for cost-effective healthcare treatments.
Competitive analysis and profiles of the leading players in the consumer healthcare market include Johnson & Johnson, Sanofi, Pfizer Inc., Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., Bayer AG, Amway, and BASF SE. These major players have embraced strategies such as product launches, product approvals, acquisitions, agreements, and branding to enhance and diversify their product portfolios within the consumer healthcare market.
Consumer Healthcare Market Report Highlights
Market Size By 2032
USD 574.4 billion
CAGR of 7.9%
2022 - 2029
By Distribution Channel
Key Market Players
Pfizer Inc., Bayer AG, Abbott Laboratories, Amway Corp., Johnson & Johnson, GlaxoSmithKline plc, Teva Pharmaceutical Industries Limited, Sanofi S.A., BOEHRINGER INGELHEIM INTERNATIONAL GMBH, BASF SE
This section offers insights from top-level CXOs in the consumer healthcare market. According to numerous interviews conducted, the COVID-19 pandemic has heightened awareness about personal healthcare and the significance of dietary supplements in addressing infectious diseases and enhancing immunity. Consequently, consumer healthcare products are playing an increasingly vital and innovative role in supporting patients on their well-being and healthcare journeys. Additionally, greater access to healthcare information on the internet and promotional campaigns by manufacturers are contributing to market growth.
Asia-Pacific is anticipated to experience the highest CAGR during the analysis period. This is attributed to increased research and development investments in launching new patient-centric products, which in turn boosts the adoption of consumer healthcare products. Furthermore, there is a growing awareness of the benefits of consumer healthcare products such as vitamins and minerals, as well as a rising trend of self-medication with OTC medicines like antipyretics and antidiarrheal drugs, along with other related trends embraced by market players.
FREQUENTLY ASKED QUESTIONS?
Q1. What would be the forecast period in the market report?
- The forecast period in the report is from 2023 to 2029.
Q2. What is the total market value of the consumer healthcare Market report?
- The total market value of the consumer healthcare Market is $280.1 billion in 2022.
Q3. Which is the largest regional market for Consumer Healthcare?
- North America is the largest regional market for Consumer Healthcare.
Q4. How many consumer healthcare manufacturing companies are profiled in the report?
- There are 10 consumer healthcare manufacturing companies are profiled in the report.
Q5. Which is base year calculated in the consumer healthcare Market report?
- The base year for the report is 2022.
Q6. Which are the top companies to hold the market share in Consumer Healthcare?
- The top companies that hold the market share in the Johnson & Johnson, Sanofi, Pfizer Inc., Abbott Laboratories, and GlaxoSmithKline plc
Q7. Does the consumer healthcare company is profiled in the report?
- Yes, consumer healthcare companies are profiled in the report
Q8. Is the competitive landscape included in the consumer healthcare market report?
A. Yes, the competitive landscape included in the consumer healthcare market report.
1 Market Overview
1.2 Market Analysis by Type
1.2.1 Overview: Global Revenue by Type: 2022 Versus 2023 Versus 2029
1.3 Market Analysis by Application
1.3.1 Overview: Global Revenue by Application: 2022 Versus 2023 Versus 2029
1.4 Global Market Size & Forecast
1.4.1 Global Sales in Value (2017-2029))
1.4.2 Global Sales in Volume (2017-2029)
1.4.3 Global Price by Type (2017-2029) & (US$/Unit)
1.5 Global Production Capacity Analysis
1.5.1 Global Total Production Capacity (2017-2029)
1.5.2 Global Production Capacity by Geographic Region
1.6 Market Drivers, Restraints and Trends
1.6.1 Market Drivers
1.6.2 Market Restraints
1.6.3 Trends Analysis
2 Manufacturers Profiles
**This is for each company**
2.1.1 Company Details
2.1.2 Company Major Business
2.1.3 Company Product and Services
2.1.4 Company Sales, Price, Revenue, Gross Margin and Market Share (2019-2022)
3 Sales by Manufacturer
3.1 Global Sales in Volume by Manufacturer (2020-2022)
3.2 Global Revenue by Manufacturer (2020-2022)
3.3 Key Manufacturer Position in Market
3.4 Market Concentration Rate
3.4.1 Top 3 Manufacturer Market Share
3.4.2 Top 6 Manufacturer Market Share
3.5 Global Production Capacity by Company
3.6 Manufacturer by Geography: Head Office and Production Site
3.7 New Entrant and Capacity Expansion Plans
3.8 Mergers & Acquisitions
4 Market Analysis by Region
4.1 Global Market Size by Region
4.1.1 Global Sales in Volume by Region (2017-2029)
4.1.2 Global Revenue by Region (2017-2029)
4.2 North America Revenue (2017-2029)
4.3 Europe Revenue (2017-2029)
4.4 Asia-Pacific Revenue (2017-2029)
4.5 South America Revenue (2017-2029)
4.6 Middle East and Africa Revenue (2017-2029)
5 Market Segment by Type
5.1 Global Sales in Volume by Type (2017-2029)
5.2 Global Revenue by Type (2017-2029)
5.3 Global Price by Type (2017-2029)
6 Market Segment by Application
6.1 Global Sales in Volume by Application (2017-2029)
6.2 Global Revenue by Application (2017-2029)
6.3 Global Price by Application (2017-2029)
7 North America by Country, by Type, and by Application
7.1 North America Sales by Type (2017-2029)
7.2 North America Sales by Application (2017-2029)
7.3 North America Market Size by Country
7.3.1 North America Sales in Volume by Country (2017-2029)
7.3.2 North America Revenue by Country (2017-2029)
7.3.3 United States Market Size and Forecast (2017-2029)
7.3.4 Canada Market Size and Forecast (2017-2029)
7.3.5 Mexico Market Size and Forecast (2017-2029)
8 Europe by Country, by Type, and by Application
8.1 Europe Sales by Type (2017-2029)
8.2 Europe Sales by Application (2017-2029)
8.3 Europe Market Size by Country
8.3.1 Europe Sales in Volume by Country (2017-2029)
8.3.2 Europe Revenue by Country (2017-2029)
8.3.3 Germany Market Size and Forecast (2017-2029)
8.3.4 France Market Size and Forecast (2017-2029)
8.3.5 United Kingdom Market Size and Forecast (2017-2029)
8.3.6 Russia Market Size and Forecast (2017-2029)
8.3.7 Italy Market Size and Forecast (2017-2029)
9 Asia-Pacific by Country, by Type, and by Application
9.1 Asia-Pacific Sales by Type (2017-2029)
9.2 Asia-Pacific Sales by Application (2017-2029)
9.3 Asia-Pacific Market Size by Region
9.3.1 Asia-Pacific Sales in Volume by Region (2017-2029)
9.3.2 Asia-Pacific Revenue by Region (2017-2029)
9.3.3 China Market Size and Forecast (2017-2029)
9.3.4 Japan Market Size and Forecast (2017-2029)
9.3.5 Korea Market Size and Forecast (2017-2029)
9.3.6 India Market Size and Forecast (2017-2029)
9.3.7 Southeast Asia Market Size and Forecast (2017-2029)
9.3.8 Australia Market Size and Forecast (2017-2029)
10 South America by Country, by Type, and by Application
10.1 South America Sales by Type (2017-2029)
10.2 South America Sales by Application (2017-2029)
10.3 South America Market Size by Country
10.3.1 South America Sales in Volume by Country (2017-2029)
10.3.2 South America Revenue by Country (2017-2029)
10.3.3 Brazil Market Size and Forecast (2017-2029)
10.3.4 Argentina Market Size and Forecast (2017-2029)
11 Middle East & Africa by Country, by Type, and by Application
11.1 Middle East & Africa Sales by Type (2017-2029)
11.2 Middle East & Africa Sales by Application (2017-2029)
11.3 Middle East & Africa Market Size by Country
11.3.1 Middle East & Africa Sales in Volume by Country (2017-2029)
11.3.2 Middle East & Africa Revenue by Country (2017-2029)
11.3.3 Turkey Market Size and Forecast (2017-2029)
11.3.4 Egypt Market Size and Forecast (2017-2029)
11.3.5 Saudi Arabia Market Size and Forecast (2017-2029)
11.3.6 South Africa Market Size and Forecast (2017-2029)
12 Sales Channel, Distributors, Traders and Dealers
12.1 Sales Channel
12.1.1 Direct Marketing
12.1.2 Indirect Marketing
12.2 Typical Distributors
12.3 Typical Customers
13 Research Findings and Conclusion
14.2 Research Process and Data Source
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analysing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.