Global OTC Consumer Health Products Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a 4.2 % CAGR of around during a forecast period.
OTC i.e., Over-The-Counter consumer health products can be consumed by an individual without any prescription. Additionally, these health products are reliable & safe and are available for the overall population. OTC consumer health products contain skincare products, nutrition, oral health care products, and other wellness products.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The report covers all the trends and technologies playing a major role in the growth of the OTC consumer health products market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the OTC consumer health products market growth during the forecast period. Growing population coupled with rising awareness regarding lifestyle diseases amongst the population is the major driving factor of the OTC consumer health products market globally. The demand for OTC consumer health products is growing because of the rising penetration of lifestyle diseases owing to poor lifestyle choices. Additionally, factors, for instance, growing healthcare costs, high demand for self-medication, rising geriatric population, deterioration in mental health, and shift from medication prescription to OTC products are other major driving factors of the market growth.
However, the presence of fake medicines and other consumer health products is expected to hinder the growth of the market for OTC consumer health products in up future. Also, the MMR report states the major challenge is the adverse effects of supplements taken without any physician’s guidance can send the person to the emergency department. The product for Weight-loss accounted for one quarter of all single-product ED visits & disproportionately affected women, while men were more expected to experience adverse effects from products promoted for bodybuilding and sexual enhancement. Energy-boosting products thru up another 10% of these visits.
The report provides an in-depth segment analysis of the global OTC consumer health products market, thereby provided that valuable insights at macro as well as micro levels. By type, cough cold & allergy remedies segment lead the OTC consumer health products market and accounted for the market share of X.3% in 2019 because of growing awareness among the population regarding the potential aids of using the OTC drugs. Analgesics are the second-largest market for OTC consumer health products followed by emergency contraception and sleep aids.
Region-wise, North America held the largest market for OTC consumer health products and the U.S continues to dominate the OTC consumer health products market representing 30% of the global industry at US$ XX.9 billion in 2019. In Canada, X5% of the adults use OTC medicine as the first response to minor health ailments and that ~ 62% of the parents give their children OTC medicine to treat an instant medical symptom.
Additionally, Asia-Pacific is the second-largest market for OTC consumer health products during the forecast period. The huge population and increasing disposable income of the consumers coupled with growing lifestyle diseases are some major factors that are envisioned to foster the growth of the Asia-Pacific OTC consumer health products market.
The objective of the report is to present comprehensive analysis of Global OTC Consumer Health Products Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global OTC Consumer Health Products Market dynamics, structure by analyzing the market segments, and project the Global OTC Consumer Health Products Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global OTC Consumer Health Products Market make the report investor’s guide.
Scope of the Global OTC Consumer Health Products Market
Global OTC Consumer Health Products Market, By Type
• Oral Healthcare
• Skin Health
• Vitamins & Dietary Supplements
• Herbal & Traditional Products
• Wound Care
• Digestive Remedies
• Sleep Aids
• Emergency Contraception
• Cough Cold & Allergy Remedies
• Eye Care
• Smoking Cessation Aids
Global OTC Consumer Health Products Market, By Distribution Channel
• Online Stores
• Offline Stores
o Departmental Stores
o Pharmacy Stores
Global OTC Consumer Health Products Market, By Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Key players operating in the Global OTC Consumer Health Products Market
• Johnson & Johnson
• Abbott Laboratories
• Sanofi Pharmaceuticals Company
• GlaxoSmithKline Pharmaceuticals Company
• Bayer Pharmaceutical Company
• Nestle Company
• Procter & Gamble Corp.
• Danone Food Company
• Colgate Palmolive Mfg. Company
• Unilever Company
• Henkel Company