Wellness, oral health, nutritional, and skin care products are part of consumer healthcare’s spectrum. Over-the-counter (OTC) pharmaceuticals, which may include medicines, are the mainstay of direct-to-consumer (DTC) healthcare product offerings, as they do not require a prescription from a doctor or other medical professional before they can be purchased.
The global consumer healthcare market, valued at $299.21 billion in 2021, is expected to grow to $417.70 billion by 2026.
The consumer healthcare industry would benefit from the meteoric rise of e-commerce and online pharmacies. Consumer healthcare products are increasingly being sold through online pharmacies to better serve the needs of consumers. Some of the largest online pharmacies in the world include Walgreens, Hims.com, Hers.com, SecurePharmaOnline, Your Drugstore, Lloyds Pharmacy, and Net meds.
As for improving one’s health and quality of life, having more money in one’s pocket would undoubtedly help. This will lead to expansion in the healthcare sector for end users. From 2022 to 2026, the consumer healthcare market is expected to expand at a CAGR of 6.90%.
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Analysis of Market Segments:
The report segments the worldwide market for consumer healthcare into four subsets: vitamins and dietary supplements; over-the-counter medicines; sports nutrition; and weight management and wellness. The vitamins and nutritional supplements sector contributed about 43% of the consumer healthcare market in 2021.
An increasing portion of people’s daily diets would include nutraceutical products. The food and nutrition industries have advanced to provide customers with a more customized experience, expected to drive growth in the market for vitamins and dietary supplements. In addition, the working population worldwide is having trouble getting all the dairy nutrients they need due to their busy schedules and shifting lifestyles, which would drive up vitamin demand.
By Method of Dissemination: The non-grocery specialists, online retailers, grocery stores, direct sellers, mixed retailers, and home-based merchants are just some of the six submarkets the market report divides the global consumer healthcare market into.
In 2021, non-grocery specialists accounted for nearly half of the consumer healthcare market, while e-commerce is expected to grow fastest. The best products are increasingly sought after, and people are turning to online resources that inform them about novel products and their benefits.
This report segments the global consumer healthcare market by geography, focusing on China, Japan, India, Australia, the United States, Canada, the European Union, Latin America and the Middle East, and Africa. In 2021, the healthcare industry’s self-medication and OTC product segments were responsible for 39% of North America’s consumer healthcare market share.
An increase in the elderly population, who are more likely to experience health problems (especially those requiring pain medication) and thus more likely to use healthcare services and buy healthcare products, would also contribute to the expansion of the market.
The Changing Nature of the Global Consumer Healthcare Market:
The Surging Number of Seniors
Growth in online shopping,
Growth in online shopping,
Increased use of social media for advertising,
A generational shift in vitamin and supplement consumption from prescription drugs to over-the-counter remedies all present difficulties
Misuse of Over-the-Counter Medicines,
Trends in the Market for Fake Drugs Show a Growing Threat
Because of the rising demand for preventative care, more money and attention are being put toward mental health services.
More and more people are buying CBD products, and telehealth is being used more frequently.