Global Consumer Healthcare Market 2022-2026: Bayer AG, Herbalife Nutrition Ltd, Nestle S.A, BYHEALTH Co. Ltd, TEVA Pharmaceutical Industries Limited, Johnson & Johnson Inc, Pfizer Inc, GlaxoSmithKline PLC, Sanofi, The Procter & Gamble Company, Reckitt

Consumer healthcare items include those for wellbeing, oral health, nutrition, and skin health. Consumer healthcare products primarily consist of over-the-counter (OTC) pharmaceuticals, which include medicines, and are offered directly to a consumer without the need for a prescription from a healthcare practitioner. In 2021, the global consumer healthcare market was valued at US$299.21 billion and is probable to reach US$417.70 billion by 2026.

The rapid growth of e-commerce and online pharmacies would boost the consumer healthcare market. To improve consumer convenience, consumer healthcare products were increasingly being sold through online pharmacies. Walgreens, Hims.com/Hers.com, Secure Pharma Online, Your Drugstore, Lloyds Pharmacy, and Net meds are among the world's largest online pharmacies. Also, an increase in disposable income would be beneficial in terms of changing lifestyles and staying healthy. Thus, creating a growing consumer healthcare market. The consumer healthcare market is projected to grow at a CAGR of 6.90%, during the forecast period of 2022-2026.

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Market Segmentation Analysis:
By Category: The report splits the global consumer healthcare market into four different categories: Vitamins and Dietary Supplements, OTC, Sports Nutrition and Weight Management, and Wellbeing. The Vitamins and Dietary Supplements segment accounted for the majority of share of approximately 43% of the consumer healthcare market in 2021. Nutraceutical products would be increasingly used as dietary supplements. To compensate for dietary loss through supplemental nutrition, the food and nutrition industries have evolved to provide consumers with a more personalized experience, thus, expected to propel the vitamins and dietary supplements market in the future. Furthermore, the working population around the globe is struggling to fulfill the dairy nutrient requirements owing to hectic work schedules and changing lifestyles, which would increase the demand for vitamins.

By Distribution Channel: The market report has bifurcated the global consumer healthcare market into six segments on the basis of distribution channel: Non-Grocery specialists, E-commerce, Grocery Retailers, Direct Selling, Mixed Retailers, and Home shopping. Non-grocery specialists segment held almost half of the share in the consumer healthcare market in 2021, while the e-commerce segment is the fastest growing during the forecast period. To benefit from the best products, people are moving to online platforms that educate them about new products and their advantages, which they find valuable.

By Region: According to this report, the global consumer healthcare market can be divided into five major regions: Asia Pacific (China, Japan, India, Australia, and the Rest of Asia Pacific), North America (The US, Mexico, and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Latin America and the Middle East and Africa. The North American consumer healthcare market enjoyed a share of 39% in 2021, primarily owing to the shift in demand towards self-medication and over-the-counter (OTC) products. Also, the rise in the geriatric population, which is more susceptible to disease, especially for pain medication and requires proper treatment and healthcare products to remain fit would further boost the market growth.

Global Consumer Healthcare Market Dynamics:

Growth Drivers: Consumer Healthcare industry is mounting due to the increase in e-commerce. People, especially after the fatal pandemic, want everything delivered to their door, including healthcare and medical supplies, to minimize any hassles or risks. For consumer healthcare companies, new digital opportunities across the entire value chain, such as expanding e-commerce channels, have opened up new avenues for reaching new customer groups and strengthening existing ones. Healthcare products have been seeing higher purchasing rates across e-commerce channels as digital health and medicine website traffic and online orders have risen significantly. Further, the market is expected to increase due to growth in social media marketing, shift from medical prescription to OTC, consumption of vitamins and dietary supplements among millennials, etc.

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Challenges: Malpractice is another term for misuse. This occurs when a patient does not receive the full benefit of a treatment or is damaged by treatment as a result of avoidable errors. Prescriptions containing chemicals to which a patient is allergic, surgical blunders or operating on the wrong operation site, and early discharge from the hospital are all examples. Some other challenges that the consumer healthcare market faces are the growing threat of counterfeit medicine, etc.

Trends: A major trend gaining pace in the consumer healthcare market is the growing popularity of preventive medicine. Preventive medicine can help to reduce the prevalence of non-contagious diseases such as diabetes, tumors, and cardiovascular disease. Many groundbreaking technologies are combined to improve health, medicine, and caregiving in general. The most intriguing part is that these innovations typically arise in the field of information technology. More trends in the market are believed to augment the growth of the consumer healthcare market during the forecasted period including increased focus on mental health resources, products witnessing growth, increased use of telehealth, etc.

Impact Analysis of COVID-19 and Way Forward:

During the pandemic, the consumer healthcare industry witnessed an increase as there was an immense need for consumer healthcare all around the world. Due to the lockdown, the supply chain saw fluctuations, but it rebounded because of digitalization. Increased use of online platforms due to lockdown and heavy need for OTC medicines and vitamins, and mineral supplements by the consumers, increased the demand for consumer healthcare. In the coming years, the amalgamation of technology with healthcare would open new doors, paving the way to enhancement, and broaden the horizons of consumer healthcare.

Competitive Landscape and Recent Developments:

The consumer healthcare market is fragmented, with the presence of a large number of players. Key players of the consumer healthcare market are:

Bayer AG
Herbalife Nutrition Ltd.
Nestle S.A
BYHEALTH Co. Ltd
TEVA Pharmaceutical Industries Limited
Johnson & Johnson Inc.
Pfizer Inc.
GlaxoSmithKline PLC
Sanofi
The Procter & Gamble Company
Reckitt
BASF SE
Amway Corporation

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Many companies in the consumer healthcare market have used acquisition and partnership to expand their business and mark their share in the market. For instance, Bayer AG established a Consumer Health Business in India in 2021, which includes ten products in allergy, nutrition, and analgesics. This company majorly focuses on different strategies such as launch, acquisition, and partnership in the consumer healthcare market, such as Takeda Consumer Healthcare Company Limited is a subsidiary of Takeda Pharmaceutical Company Limited and a seller of over-the-counter medications in Japan, they have also entered into an agreement to be acquired by the Blackstone Group Inc. in 2020.

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