The Consumer Healthcare Global Market Report 2023 by The Business Research Company, provides consumer healthcare market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Consumer Healthcare Global Market Report 2023, the global consumer healthcare market size grew from $427.15 billion in 2022 to $509.45 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global consumer healthcare is expected to grow to $1158.02 billion in 2027 at a CAGR of 22.8%.
The rapid growth in e-commerce and online pharmacies is contributing to the growth of the consumer healthcare market. Consumer healthcare products are increasingly being sold through online pharmacies to improve consumer convenience. Major online pharmacies globally include Walgreens, Hims.com/Hers.com, SecurePharmaOnline, YourDrugStore, Lloyds Pharmacy, and Netmeds. In addition, pharmaceutical companies are also selling OTC products online.
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The consumer healthcare market is segmented:
1) By Product: OTC Pharmaceuticals, Dietary Supplements
2) By Application: Retail, Online, Hospitals
Consumer healthcare companies are increasingly offering digital health solutions. Health and wellness are transforming into a digitised space with an increase in the tech-savvy population, leading to the availability of treatments on-demand. To cater to the shift in consumer preferences to digital, consumer healthcare brands have introduced digital, connected, and personalised self-care solutions. For example, Johnson & Johnson offers a behavioural coaching app with its Nicorette® QuickMist® Nicotine Spray that helps smokers to plan and track their progress in quitting smoking.
The consumer healthcare market report table of contents includes:
1. Executive Summary
2. Consumer Healthcare Market Characteristics
3. Consumer Healthcare Market Trends And Strategies
4. Consumer Healthcare Market – Macro Economic Scenario
5. Consumer Healthcare Market Size And Growth
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26. Africa Consumer Healthcare Market
27. Consumer Healthcare Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Consumer Healthcare Market
29. Consumer Healthcare Market Future Outlook and Potential Analysis
30. Appendix
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