Latest News- Consumer Healthcare Market: OTC pharmaceuticals is expected to lead the Product segment during 2025-2029

The Consumer Healthcare Market is being driven by Awareness about lifestyle diseases

The Consumer Healthcare Market is expected to grow at a CAGR of 7.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 189.8 billion. In the consumer healthcare market, the ease of access to health information online has led to a significant increase in self-medication using over-the-counter (OTC) medicines. This global trend is driven by manufacturers and retailers seeking to expand their reach and offer convenience to customers through e-commerce platforms. Websites such as Healthkart.com, Vitacost.com, and VivaVitamins.com provide a wide range of vitamin health drinks, protein shakes, and supplements, among other consumer healthcare products. These sites offer added value through features like live chats, ensuring prompt assistance to customers encountering purchasing difficulties. The shift to online platforms is a strategic move to enhance market visibility and cater to the growing demand for accessible and convenient healthcare solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • OTC pharmaceuticals
  • Dietary supplements
• Distribution Channel
  • Offline
  • Online
• Geography
  • North America
    • Canada
    • US
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Awareness about lifestyle diseases
• Increase in self-medication practices
• Growth of geriatric population

However, the market also witnesses some limitations, which are as follows:

• Lack of corroborative studies on dietary supplements
• Adverse effects of OTC medications
• Widespread presence of counterfeit pharmaceuticals

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Market Scope in Consumer Healthcare Market Research Report

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Research Analysis Overview

The Consumer Healthcare Market encompasses a range of products and services, including Wellness solutions, Oral health care, Nutrition supplements, and Skin health products. It also includes Medicines, both Prescription and Over-the-counter (OTC), and Healthcare professional consultations. Personal healthcare products span from Health supplements and Cosmetics to Disinfectants and Consumer medical devices. Nutraceuticals, Digital health, and OTC goods are key sectors, with a focus on Preventative medicine and Drug distribution. The market faces challenges such as Counterfeit drugs and Over-the-counter Analgesics, Weight loss products, and Gastrointestinal solutions.

Market Research Overview

The consumer healthcare market encompasses sectors such as wellness, oral health, nutrition, skin health, medicines, prescription drugs, and mental health. According to Technavio, the global pharmaceuticals market, which includes manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is projected to grow significantly. Key drivers include the increasing geriatric population, with one-quarter of the US population predicted to be over 60 years old by 2050, and Europe reaching a similar ratio by 2030. This demographic shift will increase demand for healthcare solutions, particularly in areas like self-medication, patient-centric treatments, and mental health services. Diseases and healthcare costs are also significant factors fueling market growth. The pharmaceutical industry responds by investing in research and development of new treatments and medications to address these needs.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/