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Mar 2019 | 2240 Views
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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.
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.
The global consumer healthcare market is segmented on the basis of products, distribution network, and region. Based on product, it is bifurcated into OTC pharmaceuticals and dietary supplements. On the basis of distribution network, the market is categorized into departmental stores, independent retailers, pharmacies or drugstores, specialist retailers, and supermarkets or hypermarkets. Geographically, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in this market include Johnson & Johnson, Sanofi, Pfizer Inc., Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., Bayer AG, Amway, and BASF SE.
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