Global Consumer Healthcare Market to Reach $417.7 Billion by 2026

DUBLIN, Aug. 9, 2022 /PRNewswire/ -- The "Global Consumer Healthcare Market: Analysis By Category, By Distribution Channel, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.

Consumer healthcare items include those for wellbeing, oral health, nutrition, and skin health. Consumer healthcare products primarily consist of over-the-counter (OTC) pharmaceuticals, which include medicines, and are offered directly to a consumer without the need for a prescription from a healthcare practitioner. In 2021, the global consumer healthcare market, was valued at US$299.21 billion, and is probable to reach US$417.70 billion by 2026.

The rapid growth of e-commerce and online pharmacies would boost the consumer healthcare market. To improve consumer convenience, consumer healthcare products were increasingly being sold through online pharmacies. Walgreens, Hims.com/Hers.com, SecurePharmaOnline, Your Drugstore, Lloyds Pharmacy, and Net meds are among the world's largest online pharmacies. Also, an increase in disposable income would be beneficial in terms of changing lifestyle and staying healthy. Thus, creating growing the consumer healthcare market. The consumer healthcare market is projected to grow at a CAGR of 6.90%, during the forecast period of 2022-2026.

Market Segmentation Analysis:

• By Category: The report splits the global consumer healthcare market into four different categories: Vitamins and Dietary Supplements, OTC, Sports Nutrition and Weight Management and Wellbeing. The Vitamins and Dietary Supplements segment accounted for majority of share of approximately 43% of the consumer healthcare market in 2021. Nutraceutical products would be increasingly used as dietary supplements. To compensate for dietary loss through supplemental nutrition, the food and nutrition industries have evolved to provide consumers with a more personalized experience, thus, expected to propel the vitamins and dietary supplements market in the future. Furthermore, the working population around the globe is struggling to fulfill the dairy nutrient requirements owing to hectic work schedules and changing lifestyles, which would increase the demand for vitamins.
• By Distribution Channel: The market report has bifurcated the global consumer healthcare market into six segments on the basis of distribution channel: Non-Grocery specialists, E-commerce, Grocery Retailers, Direct Selling, Mixed Retailers and Home shopping. Non-grocery specialists segment held almost half of the share in consumer healthcare market in 2021, while the e-commerce segment is the fastest growing during the forecast period. To benefit from the best products, people are moving to online platforms that educate them about new products and their advantages, which they find valuable.
• By Region: According to this report, the global consumer healthcare market can be divided into five major regions: Asia Pacific (China, Japan, India, Australia and Rest of Asia Pacific), North America (The US, Mexico, and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Latin America and Middle East and Africa. The North America consumer healthcare market enjoyed the share of 39% in 2021, primarily owing to the shift in demand towards self-medication and over the counter (OTC) products. Also, the rise in the geriatric population, which is more susceptible to disease, especially for pain medication and require proper treatment and healthcare products to remain fit would further boost the market growth.

Global Consumer Healthcare Market Dynamics:

Growth Drivers

• Increasing Geriatric Population
• Rising E-commerce
• Growth in Social Media Marketing
• Shift from Medical Prescription to OTC
• Consumption of Vitamins and Dietary Supplements among Millennials

Challenges

• Misuse of Consumer Healthcare Products
• Growing Threat of Counterfeit Medicine

Market Trends

• Growing Popularity of Preventive Medicine
• Increased Focus on Mental Health Resources
• CBD Products Witnessing Growth
• Increased Use of Telehealth

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market Dynamics

7. Competitive Landscape

8. Company Profiles

 Companies Mentioned

• Bayer AG
• Herbalife Nutrition Ltd.
• Nestle S.A
• BYHEALTH Co. Ltd
• TEVA Pharmaceutical Industries Limited
• Johnson & Johnson Inc.
• Pfizer Inc.
• GlaxoSmithKline PLC
• Sanofi
• The Procter & Gamble Company
• Reckitt
• BASF SE
• Amway Corporation

For more information about this report visit https://www.researchandmarkets.com/r/lufzlr

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SOURCE Research and Markets