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The consumer healthcare market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 21%, as per The Business Research Company’s market report!

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The Consumer Healthcare Market Size In 2022 And Forecast
The global consumer healthcare market is expected to grow from $361.57 billion in 2021 to $424.63 billion in 2022 at a compound annual growth rate (CAGR) of 17.44%. 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, affecting many markets across the globe. The consumer healthcare market is expected to reach $932.74 billion in 2026 at a CAGR of 21.74%.

The consumer healthcare market consists of sales of consumer healthcare products and related services by entities (organizations, sole traders, and partnerships) that provide personal healthcare products that are sold directly to a consumer without a prescription from a healthcare professional.

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Growth In E-Commerce And Online Pharmacies Is Driving The Growth Of The Consumer Healthcare Market
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.

Competitive Landscape And The Regional Analysis Of The Consumer Healthcare Market
Major players in the consumer healthcare market are Johnson & Johnson, Sanofi, Abbott Laboratories, BASF SE, Amway, Bayer AG, Pfizer Inc., Boehringer Ingelheim, GlaxoSmithKline plc, American Health Corporation, Stanex Drugs & Chemicals Pvt. Ltd, Ipsen SA, Reckitt Benckiser LLC, Jasco Group of Companies, Bionova Lifesciences, lenmark Pharmaceuticals Ltd, Merck & Co, DSM, Teva Pharmaceutical Industries Ltd., and The Himalaya Drug Company.

Additionally, as per TBRC’s research – North America was the largest region in the consumer healthcare market in 2021 holding the largest market share and Asia Pacific is expected to be the fastest-growing region in the forecast period.

The Consumer Healthcare Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the consumer healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the consumer healthcare market.

Increasingly Offering Digital Health Solutions – A Key Trend In The Consumer Healthcare Market
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.

Consumer Healthcare Market Segmentation By The Business Research Company

1) By Product: OTC Pharmaceuticals, Dietary Supplements

2) By Application: Retail, Online, Hospitals

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