The latest report on “Consumer Healthcare Market (Product – OTC Pharmaceuticals, and Dietary Supplements; Distribution Network – Departmental Stores, Independent Retailers, Pharmacies or Drugstores, Specialist Retailers, and Supermarkets or Hypermarkets): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global consumer healthcare market is projected to grow at a CAGR of 9.0% over the forecast period of 2019-2025.
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Consumer healthcare deals with products in skin health, wellness, nutrition, and oral health. Consumer healthcare products mainly constitute OTC (over-the-counter) drugs which are medicines, without a prescription from a healthcare professionals, which are sold directly to the consumer. The consumer healthcare market or industry is extremely fragmented and leading manufacturers remain to strengthen their position in the market through high-profile acquisition and various marketing strategy.
The global consumer healthcare market is primarily driven by increasing healthcare costs, large demand for self-medication, the growing geriatric population which is more susceptible to contracting diseases, shift from medication prescription to OTC products, and deterioration in mental health. Moreover, the rise in disposable income and the approval of preventive & wellness medicine is expected to fuel the market growth in the near future.
However, the presence of counterfeit pharmaceuticals and stringent regulations of governmental for healthcare industry expected to hinder the demand for the global consumer healthcare market. Nonetheless, the growing demand for branded products, along with accelerated & development use of online sources, OTC generics, and private labels are anticipated to create a new opportunity for the global consumer healthcare market.
North America Held the Largest Revenue Share for the Global Consumer Healthcare Market
On the basis of region, the global consumer healthcare market is bifurcated into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia-Pacific is expected to exhibit rapid growth owing to the cheap labor and lower cost of manufacturing, less regulatory complications, with a large number of GMP (good manufacturing practice) facilities. North America held the largest revenue share for the global consumer healthcare market in 2018 owing Major consumer products, CRAMS organizations, pharmaceutical, health insurance companies, medical device, and manufacturing companies are located in the region followed by Europe. The ECHA (European Chemicals Agency) EC (European Commissions) the chemical regulation body is mainly focused on evaluation and testing of chemicals and entities under REACH, to assess the effect on people of these substances and aims to update and fill the gaps in dossiers to enhance data quality.
The report on global consumer healthcare market covers segments such as product, and distribution network. On the basis of product, the sub-markets include OTC pharmaceuticals, and dietary supplements. On the basis of the distribution network, the sub-markets include departmental stores, independent retailers, pharmacies or drugstores, specialist retailers, and supermarkets or hypermarkets.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/healthcare-medical-devices/global-consumer-healthcare-market
The report provides profiles of the companies in the market such as Johnson & Johnson, Pfizer Inc., Boehringer Ingelheim GmbH, Abbott Laboratories, Sanofi, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Amway, BASF SE, and Bayer AG..
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