Global OTC Consumer Health Products Market Athletic Socks Segment to Register High Growth
The OTC consumer health products market has been segmented by type into nutrition, oral healthcare, skin health, vitamins & dietary supplements, herbal & traditional products, wound care, digestive remedies, sleep aids, emergency contraception, eye care, smoking cessation aids and others. Among these segments, the nutrition and vitamins & dietary supplements have dominated the market in 2016 and are expected to continue its dominance over the forecast period. Factors such as rising awareness among consumers regarding fitness and prevalence of lifestyle disorders are envisioned to drive the growth of OTC consumer health products market in upcoming years.
The global market for OTC consumer health products is anticipated to reach at a valuation of USD 40.7 Billion, expanding at a compound annual growth rate of 3.75% by the end of forecast period. Factors such as rising disposable income of the consumers and growing spending on fitness products are likely to foster the growth of OTC Consumer Health Products Market.
Based on regional platform, North America is the largest market for OTC consumer health products owing to high disposable income of the consumers and high expenditure on health care products. Additionally, the United States is the dominating market of OTC consumer health products in North America region. Further, growing awareness regarding lifestyle diseases and increasing self-medication trends in regions of Europe is anticipated to drive the market of OTC consumer health products by satisfactory CAGR during the forecast period.
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Rise in Lifestyle Infections to Boom the Market
Global market of OTC consumer health products is primarily driven by growing population coupled with rising awareness regarding lifestyle diseases amongst the population. Further, rising penetration of lifestyle diseases due to poor life style choices are also escalating the demand for OTC consumer health products. These factors are expected to benefit the expansion of OTC consumer health products market.
The report titled “OTC Consumer Health Products Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the OTC consumer health products market in terms of market segmentation by type, by distribution channel and by region.
However, the presence of fake medicines and other consumer health products is likely to inhibit the growth of the OTC consumer health products market in the near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the OTC consumer health products market which includes company profiling of Johnson & Johnson, Abbott Laboratories, Sanofi Pharmaceuticals, GlaxoSmithKline Pharmaceuticals Company, Bayer Pharmaceuticals Company, Nestle Company, Procter & Gamble Corp., Danone Food Company, Colgate Palmolive Mfg. Company, Unilever Company and Henkel Company
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the OTC consumer health products market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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