Global Market Study on OTC Consumer Healthcare: Increasing Sales of Analgesics Contributing to Market Growth


Otc Consumer Healthcare  Market
  • Published On : Jul-2020 |
  • Pages : 300 Pages |
  • Format : Otc Consumer Healthcare  Market Otc Consumer Healthcare  Market Otc Consumer Healthcare  Market Otc Consumer Healthcare  Market

Usually, people that are affected by a common illness such as cold, cough, headache, and others use commonly-available non-prescription drugs within two days to cure their illness. These types of common illnesses prompt the use of oral healthcare products. Consumers majorly go in for OTC consumer healthcare by famous brands. As such, efforts by companies on promoting their brand name plays a big part in their growth in the OTC consumer healthcare market.

However, abuse of OTC medications can result in addiction and dependency, which can negatively impact health. Apart from this, the COVID-19 pandemic outbreak has created panic among people, which has boosted the sales of immunity boosters across the globe.

OTC Consumer Healthcare Market Trends

Strategic Alliances & Partnerships Aiding Market Growth: Strategic alliances and partnerships often facilitate access to numerous markets. This is directly aiding the expansion and diversification of business activities and operations of key players in OTC consumer healthcare market. Well-established players are taking actions to increase their foothold in emerging economies.

  • For instance, in 2017, Bayer AG entered into a strategic partnership with AliHealth (Alibaba Health) to promoted self-care products in China. It is the first consumer health company to sign a memorandum of cooperation with AliHealth on uni-marketing.

OTC consumer healthcare products such as analgesics, oral healthcare, wound care, medicated skin care, and others are increasing in popularity among customers, which contributes significantly to pharmaceutics sales. Particularly, with increasing product awareness and marketing by key players in emerging economies, sales volume in the OTC consumer healthcare market will further increase steadily over the coming years.

Growing Preferences for Natural Medicinal Products & Supplements Boosting Sales: Natural medicinal products and supplements have been gaining popularity over the past few years. When it comes to medications or primary healthcare, consumer preferences are slightly shifting toward natural products, including OTC consumer healthcare products instead of conventional ones. The perception that products with natural ingredients are more effective and provide more health benefits is itself driving the growth of natural products in the OTC consumer healthcare category.

Analgesics to Continue Dominating Market: Pain is one of the most common medical problems, and analgesics are the most frequently used drugs in case of self-treatment. There are different painkillers available in the market with different medical potencies. Analgesics sales are rising steadily due to increasing accessibility, and as such, the segment is likely to continue to dominate the market in the coming years. Increasing adoption of analgesics for pain is a factor that is majorly contributing to the segment growth in the global OTC consumer healthcare market.

Inconsistent Regulatory Regimes between Countries - Key Challenge: Inconsistent regulatory framework in different countries / regions often affects market growth. In some emerging economies, certain drugs are for all purposes and are available to everyone willing to buy. Whereas, in other countries or regions, restrictions are much higher. There exist variations in regulatory framework even in economies that are on a similar track of development.

For example, in Europe, regulatory aspects related to the sales channel from which a non-prescription drug can be bought and the presence of the pharmacist during the transaction differs from country to country. Such kinds of fragmentation often result in an increase in costs, and also affect consumer access to products to some extent.

OTC Consumer Healthcare Market: Competition and Regional Overview

The OTC consumer healthcare market size is all set to witness expansion in the coming years. This is likely to be driven by the growth of regional local players that are operating in the market, especially in developing economies. Moreover, prominent companies are focused on expanding their market presence through acquisitions.

  • In 2017, Ipsen SA acquired a portfolio of five consumer products from Sanofi S.A., intending to expand its OTC consumer healthcare portfolio offerings.

Global sales of the OTC consumer healthcare market reached US$ 142 Bn in 2019. According to PMR’s report, the OTC consumer healthcare market is estimated to record a CAGR of over 5% during the forecast period of 2020-2030.

North America is a dominating region as far as global OTC consumer healthcare market share is concerned, followed by Europe. The United States holds a substantial position in the market in in North America. In the case of Europe, Germany and the United Kingdom together account for more than 40% share in the market.

Among other remaining regions, East Asia, South Asia, and Oceania are expected to register significant growth during the coming years, due to demographic factors such as increasing consumer concern regarding health and rising product availability at pharmaceutical stores. Other industry-related factors such as increasing manufacturing expertise, emerging local players with extensive focus on research and development, and government actions aimed at significantly promoting quality healthcare are expected to contribute favorably to the growth of the OTC consumer healthcare market.

Covid-19 Impact on OTC Consumer Healthcare Market

A recovery rate of approximately 58% has been observed across the world among all patients infected by coronavirus, as of 9th July, 2020. Various businesses across the world who have adopted new sales channels and have planned according to the crisis are expected to grow in the near future.  Moreover, the spread of coronavirus has positively influenced the sales of OTC consumer healthcare drugs due to increasing customer concerns regarding their health.

During the COVID-19 pandemic outbreak, sales from online channels are anticipated to grow, as people are more cautious and avoid visiting doctors and medical stores as much as possible, so as to practice social distancing measures to control the spread of the disease. However, as the pandemic subsides, online sales will lessen and physical sales will again pick pace.

Analysts’ Viewpoint

A brief overview of the changing landscape of the OTC consumer healthcare market has led our analysts to conclude that, the market is growing faster in developing regions. Competitors operating in the OTC consumer healthcare market will have to increase their existing marketing and branding capabilities. Planning marketing strategies with a focus on some crucial aspects such as prescriber shifts and strategies opted by other competitors in the market will remain important in the coming years. Branding strategies aimed at building big brands will be of more importance to survive in the highly competitive OTC consumer healthcare market.

OTC Consumer Healthcare Market - Scope of the Report

Persistence Market Research (PMR) has recently published a new research analysis on the OTC consumer healthcare market for the assessment period of 2020-2030. The research study offers a close look at the evolving aspects of the OTC consumer healthcare market and the dynamics impacting market growth. It also focuses on key developments that have made a mark in the OTC consumer healthcare market, and what other developments are on the cards. The report talks about various macro- and micro-economic factors responsible for giving an in-depth analysis of the market.

The research study on the OTC consumer healthcare market extensively focuses on key trends shaping its growth. In addition, opportunity analysis on OTC consumer healthcare underline untapped corners for aspiring players to make a note of. In addition, this research study on the OTC consumer healthcare market also offers a panoramic view of the incremental opportunity, which can further help readers make well-informed decisions.

Several stakeholders in the OTC consumer healthcare market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the report also can help new market entrants expand their bases in the OTC consumer healthcare market.

The report elaborates on both, historical and current trends molding the growth of the OTC consumer healthcare market. The performance of the OTC consumer healthcare market has been drawn and analyzed in ways that the lucrative side of the market is evident to readers. Competitive landscape provided in the report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.

OTC Consumer Healthcare Market: Segmentation

PMR’s research study on the global OTC consumer healthcare market offers a detailed market analysis, wherein, key segments have been discussed in detail. The segmentation of the OTC consumer healthcare has been offered on the basis of product, end user, sales channel, form, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

Product

  • OTC Pharmaceuticals
    • Eye Care
    • Oral Health Care
    • Medicated Skin Care
    • Wound Care
    • Digestive Remedies
    • Sleeping Aids
    • Emergency Contraceptives
    • Intimate Care
    • Hair Care
    • Cough, Cold & Allergy Remedies
    • Analgesics
    • Dermatological
  • Dietary Supplements
    • Nutrition
    • Vitamins
    • Minerals
    • Proteins
    • Others

End User

  • Male
  • Female
  • Kids

Sales Channel

  • Wholesalers & Distributors
  • Pharmacy or Drug Stores
  • Specialty Stores
  • Online Retailers
  • Hypermarkets/Supermarkets
  • Other Sales Channels

Form

  • Tablet
  • Powder
  • Liquid
  • Others

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

The OTC consumer healthcare market research report includes a competitive landscape that provides a dashboard view of key competitors operating in the market. Some of the market players profiled in this section include Sun Pharmaceutical Industries Limited, Glenmark Pharmaceuticals Ltd., Johnson & Johnson Private Ltd, Pfizer, Inc., American Health Corporation, Abbott Laboratories Inc, GlaxoSmithKline plc, Ipsen SA, Sanofi S.A., Bayer AG, Piramal Enterprises Ltd., Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd, BASF SE, Koninklijke DSM N.V., Reckitt Benckiser LLC, and Lonza Group Ltd.

OTC Consumer Healthcare Market: Key Questions Answered

The research study offers inclusive insights about the growth of the OTC consumer healthcare market in the most comprehensible manner for the better understanding of readers. Key insights offered in this report answer some of the salient questions that assist stakeholders in gauging all emerging possibilities.

  • How has rapidly changing consumer perspective acted as a major growth engine for the OTC consumer healthcare market?
  • How does e-Commerce boost OTC consumer healthcare market growth?
  • Do omni-channel concepts help companies grow in the global OTC consumer healthcare market?
  • What are the key trends that are constantly shaping the growth of the OTC consumer healthcare market?
  • Which are the prominent regions offering plentiful opportunities for the market?
  • What are the differential strategies adopted by key players to command a significant chunk of the global market share?

OTC Consumer Healthcare Market: Research Methodology

A unique and promising research methodology forms the base of the OTC consumer healthcare market report for the forecast period. The report has been prepared after comprehensive analysis of market happenings, and riveting insights have been compiled meticulously. The research methodology for the OTC consumer healthcare market is a two-step process, comprising primary and secondary research. Key stakeholders such as OTC consumer healthcare product suppliers and manufacturers, and experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals have been interviewed.

Secondary sources referred to acquire report findings include investor presentations of manufacturers, healthcare industry reports, Consumer Healthcare Products Association, and many other credible sources.

Companies covered in Otc Consumer Healthcare Market Report

  • Sun Pharmaceutical Industries Limited 
  • Glenmark Pharmaceuticals Ltd.
  • Johnson & Johnson Private Ltd, Pfizer, Inc.
  • American Health Corporation
  • Abbott Laboratories Inc.
  • GlaxoSmithKline plc
  • Sanofi S.A.
  • Piramal Enterprises Ltd.
  • Boehringer Ingelheim GmbH
  • Bayer AG
  • Teva Pharmaceutical Industries Ltd.
  • Ipsen SA, BASF SE
  • Koninklijke DSM N.V.
  • Reckitt Benckiser LLC.
  • Lonza Group Ltd. 
  • Other Players (as per request) 

Otc Consumer Healthcare Market

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