The consumer healthcare market share will post an incremental growth of USD 123.78 billion, progressing at a CAGR of 5.66% during the forecast period. The awareness about lifestyle diseases will offer immense growth opportunities to market vendors. The consumer healthcare market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Consumer Healthcare Market by Product and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The consumer healthcare market is segmented by Product (OTC pharmaceuticals and dietary supplements) and Geography (North America, Asia, Europe, and Rest of World (ROW)
The growth of the consumer healthcare market in the OTC pharmaceuticals segment will be significant during the forecast period. By geography, the surge in the number of skin diseases will facilitate the consumer healthcare market growth in North America. 33% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the consumer healthcare market in North America.
The awareness of lifestyle diseases will directly influence the sales of the consumer healthcare market. In addition, the accelerated use of online resources is one of the major consumer healthcare market trends that will positively impact market growth. However, intense competition will hamper the consumer healthcare market growth.
The market is fragmented due to the presence of several players. Some of the major consumer healthcare market vendors are Abbott Laboratories, Amway Corp., BASF SE, Bayer AG, BioGaia AB, Boehringer Ingelheim International GmbH, Chr Hansen Holding AS, Danone SA, Eisai Co. Ltd., Genomma Lab Internacional SAB de CV, Glanbia Plc, GlaxoSmithKline Plc, Herbalife Nutrition Ltd., Himalaya Global Holdings Ltd., Johnson and Johnson, Kellogg Co., Koninklijke DSM NV, Merck KGaA, Nestle SA, NUTRITION ET SANTE, Pfizer Inc., Reckitt Benckiser Group PLC, and Sanofi.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the growth of the market.
Precise market size estimation during the forecast period 2022-2026.
CAGR of the consumer healthcare market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the consumer healthcare market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the consumer healthcare market.
Consumer healthcare industry growth across North America, Asia, Europe, and Rest of World (ROW).
