The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s consumer healthcare market report forecasts the consumer healthcare market size to grow to $1158.02 Billion by 2027, with a CAGR (compound annual growth rate) of more than 22%.
Learn More On The Consumer Healthcare Market Report 2023 – https://www.thebusinessresearchcompany.com/report/consumer-healthcare-global-market-report
Consumer Healthcare Market Size Forecast
The global consumer healthcare market is expected to grow from $427.15 billion in 2022 to $509.45 billion in 2023 at a compound annual growth rate (CAGR) of 19.3%. 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, causing inflation across goods and services and affecting many markets across the globe. The consumer healthcare market size is expected to grow to $1.15 trillion in 2027 at a CAGR of 22.8%.
North America held the largest consumer healthcare market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Consumer Healthcare Market Driver – Rapid Growth In E-Commerce And Online Pharmacies
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.
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Key Consumer Healthcare Market Trend – Increasingly Offering Digital Health Solutions
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. For example, Johnson & Johnson offers a behavioural coaching app with its Nicorette® QuickMist® Nicotine Spray that helps smokers to plan and track their progress in quitting smoking.
Consumer Healthcare Market Segment
1) By Product: OTC Pharmaceuticals, Dietary Supplements
2) By Application: Retail, Online, Hospitals
Consumer Healthcare Market Major Players and Strategies
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.
In 2021, CVC Capital Partners, a private equity firm, acquired Cooper Consumer Health, a French company that produces OTC treatments such as creams, sprays, and nutritional supplements. The deal was valued at $2.4 billion. With this acquisition, CVS Capital Partners aims to accelerate its consumer health business.
The Consumer Healthcare Global Market Report 2023 covers regional data on consumer healthcare market size, consumer healthcare market trends and drivers, opportunities, strategies, and consumer healthcare market competitor analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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.
View More Reports Related To The Consumer Healthcare Market –
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