Overview and Scope
The consumer healthcare provides personal healthcare products that are sold directly to a consumer without a prescription from a healthcare professional. Consumer healthcare products generally include over-the-counter (OTC) drugs, health supplements, cosmetics, disinfectants, and consumer medical devices.
Sizing and Forecast
The consumer healthcare market size has grown exponentially in recent years. It will grow from $537.77 billion in 2023 to $663.81 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The growth in the historic period can be attributed to aging population and healthcare needs, over-the-counter (otc) medications, wellness and prevention focus, growth of e-commerce and online pharmacies, increasing health and fitness trends
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The consumer healthcare market size is expected to see exponential growth in the next few years. It will grow to $1476.45 billion in 2028 at a compound annual growth rate (CAGR) of 22.1%. The growth in the forecast period can be attributed to growing personalized health and genetics, digital health and telemedicine, remote patient monitoring, health apps and wearables, growing demand for nutraceuticals and dietary supplements. Major trends in the forecast period include adoption of digital health and telemedicine, health apps and wearables, personalized health and genetics, the use of remote monitoring devices, aging-in-place solutions.
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The consumer healthcare market covered in this report is segmented –
1) By Product: OTC Pharmaceuticals, Dietary Supplements
2) By Application: Retail, Online, Hospitals
North America was the largest region in the consumer healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer healthcare market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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. For instance, Dr. Reddy’s sells its OTC products through Amazon and other e-commerce channels in the USA. So, increasing e-commerce is driving the consumer healthcare market growth.
Key Industry Players
Major companies operating in the consumer healthcare market include Johnson & Johnson, Sanofi S.A., Abbott Laboratories, BASF SE, Amway Corporation, Bayer AG, Pfizer Inc., Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, American Health Corporation, Stanex Drugs & Chemicals Pvt. Ltd., Ipsen S.A., Reckitt Benckiser Group plc, Jasco Group of Companies, Bionova Lifesciences, Lenmark Pharmaceuticals Ltd., Merck & Co. Inc., DSM Nutritional Products AG, Teva Pharmaceutical Industries Ltd., The Himalaya Drug Company, Procter & Gamble Co., Nestle S.A., Novartis International AG, Eli Lilly and Company, AbbVie Inc., CVS Health Corporation, McKesson Corporation, Cigna Corporation, Cardinal Health Inc., AstraZeneca plc, Bristol-Myers Squibb Company, Novo Nordisk A/S, Perrigo Company plc, Colgate-Palmolive Company, Church & Dwight Co. Inc., Herbalife Nutrition Ltd., The Nature’s Bounty Co., The Clorox Company
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
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31. Global Consumer Healthcare Market Competitive Benchmarking
32. Global Consumer Healthcare Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Consumer Healthcare Market
34. Consumer Healthcare Market Future Outlook and Potential Analysis
