A recent report published by Infinium Global Research on consumer healthcare market provides in-depth analysis of segments and sub-segments in the global as well as regional consumer healthcare market
Pune, India -- (SBWIRE) -- 11/29/2019 -- The Infinium Global Research analyzes the "Consumer Healthcare Market (Product - OTC Pharmaceuticals, and Dietary Supplements; Distribution Network - Departmental Stores, Independent Retailers, Pharmacies or Drugstores, Specialist Retailers, and Supermarkets or Hypermarkets): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global consumer healthcare market is projected to grow at a CAGR of 9.0% over the forecast period of 2019-2025.
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The consumer healthcare market or industry is extremely fragmented and leading manufacturers remain to strengthen their position in the market through high-profile acquisition and various marketing strategies. Consumer healthcare deals with products in skin health, wellness, nutrition, and oral health. Consumer healthcare products mainly constitute OTC (over-the-counter) drugs which are medicines, without a prescription from a healthcare professional, which are sold directly to the consumer.
Growing Healthcare Costs Fuel Demand for Self-Medication Which Propel Growth for Consumer Healthcare Market
The consumer healthcare market is driven by a rise in disposable income and the approval of preventive & wellness medicine. Moreover, increasing healthcare costs, large demand for self-medication, the growing geriatric population which is more susceptible to contracting diseases, shift from medication prescription to OTC products, and deterioration in mental health are also expected to drive the consumer healthcare market.
However, the presence of counterfeit pharmaceuticals is and stringent regulations of government for the healthcare industry is anticipated to restrict the growth of the consumer healthcare market. Nonetheless, the growing demand for branded products, along with accelerated & development use of online sources, OTC generics, and private labels is estimated to create a new opportunity for the global consumer healthcare market.
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OTC Pharmaceuticals Expected to Grow at a Substantial Rate Over the Forecast Period in the Consumer Healthcare Market
The report on the global consumer healthcare market covers segments such as product, and distribution network. The product segment is further segmented into OTC pharmaceuticals and dietary supplements. On the basis of the distribution network, the consumer healthcare market is segmented into departmental stores, independent retailers, pharmacies or drugstores, specialist retailers, and supermarkets or hypermarkets.
Consumer Healthcare Market: Regional Insights
On the basis of region, the global consumer healthcare market is bifurcated into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America held the largest revenue share for the global consumer healthcare market in 2018 owing to Major consumer products, CRAMS organizations, pharmaceutical, health insurance companies, medical devices, and manufacturing companies are located in the region followed by Europe. The ECHA (European Chemicals Agency) EC (European Commission's) Chemical regulation body, is mainly focused on evaluation and testing of chemicals and entities under REACH, to assess the effect on people of these substances and aims to update and fill the gaps in dossiers to enhance the data quality. Asia Pacific is expected to exhibit rapid growth owing to the cheap labour and lower cost of manufacturing, fewer regulatory complications, with a large number of GMP (Good manufacturing practice) facilities.
Consumer Healthcare Market: Competitive Landscape
The key players in the consumer healthcare market are Johnson & Johnson, Pfizer Inc., Boehringer Ingelheim GmbH, Abbott Laboratories, Sanofi, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Amway, BASF SE, and Bayer AG., and many others.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of consumer healthcare.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.