The OTC consumer health products market is on track to exceed a value of more than US$ 40 billion by the end of the forecast period (2027), making it a market with huge potential for key stakeholders.
Albany, NY -- (SBWIRE) -- 09/08/2017 -- OTC consumer health products include sports nutrition products, health supplements, and those drugs that can be purchased without a physician's prescription. An ageing population with a high disposable income and pervasive influence of social media networks with an emphasis on fitness present the perfect conditions for the boom in the global OTC consumer health products market. According to a new report titled 'OTC Consumer Health Products Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027),' the OTC consumer health products market is on track to exceed a value of more than US$ 40 billion by the end of the forecast period (2027), making it a market with huge potential for key stakeholders.
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Focus on the Nutritional Segment in the OTC Consumer Health Products Market
The OTC consumer health products market has been segmented into oral care products, gastrointestinal products, wound care management products, skin care products, and nutritional supplements. The nutritional supplements segment witnessed the greatest demand in 2016 and it isn't surprising to see why. A modern day sedentary lifestyle has led to a number of diseases such as diabetes, obesity, and hypertension. This in turn has made people consider their health and wellness to be a far greater priority by consuming dietary supplements, vitamin supplements, and sports nutrition products. This health awareness phenomenon has had a larger impact on the urban population as they typically have a higher disposable income and greater access to social media platforms than their rural counterparts. The gastrointestinal products segment is likely to be the second most popular segment mainly due to gastrointestinal concerns such as acidity, heartburn, and indigestion becoming increasingly common.
North America Highly Profitable Region in the OTC Consumer Health Products Market
We have evaluated five regions in the report viz., MEA, Europe, Latin America, APAC, and North America. The maximum demand for OTC consumer health products is seen in North America with the bulk of demand coming from the U.S. North America is expected to retain its commanding position in the OTC consumer health products market because of a geriatric population seeking out healthier options to counteract the ill-effects of their sedentary daily grind. In addition, many leading players in the OTC consumer health products market have their base of operations in the U.S. Strategic partnerships, alliances, and mergers & acquisitions are predicted to drive the North America OTC consumer health products market for some time to come.
High CAGR in APAC May Make the Region Outpace Europe
Europe is the second most lucrative region, with Germany in particular being a force to reckon with. However, the APAC region could record a much higher CAGR during the forecast period riding on the explosive growth of China and India. These two most populous countries are anticipated to turn APAC into a potential goldmine for companies in the OTC consumer health products market.
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OTC Consumer Health Products Market: Competition Dashboard
A few of the companies profiled in our report include Pfizer, Inc., Abbott Laboratories, Piramal Enterprises Ltd., Sun Pharmaceuticals Ltd., Bayer AG, Ipsen, Sanofi S.A., Glenmark Pharmaceuticals Ltd, GlaxosmithKline plc, Johnson & Johnson, and American Health.
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