Product ID: SQMIG35D2021
Report ID:
SQMIG35D2021 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
187 |
Figures:
82
Global Consumer Healthcare Market size was valued at USD 364.41 billion in 2019 and is poised to grow from USD 391.49 billion in 2023 to USD 694.58 billion by 2031, growing at a CAGR of 7.43% during the forecast period (2024-2031).
Products for wellness, oral health, nutrition, and skin health are all part of consumer healthcare. The majority of consumer healthcare goods are over-the-counter (OTC) medications, including vitamins and mineral supplements, which are offered directly to customers without a prescription from a medical expert. OTC medications include several varieties of toothpaste, mouthwash, eye drops, wart removers, first aid creams and ointments containing antibiotics, and even shampoos for dandruff.
One other element boosting the expansion of the global consumer healthcare market is the ageing population, which is more prone to getting ailments.
The market is also expanding as a result of the rising acceptance of OTC products among the senior population. The availability of fake products that contain an inaccurate amount of active pharmaceutical ingredient (API), a low-quality or incorrect API, and contaminants hinders the market's expansion.
The governments of various nations are, however, launching a variety of initiatives to limit the production and distribution of counterfeit consumer healthcare products, which in turn is paving the way for the expansion of consumer healthcare products that are dependable and trusted.
Given that consumers are compelled to forgo prescription medications in favour of less expensive alternatives, rising healthcare expenses are a crucial factor that may present a lucrative growth potential for the consumer healthcare market. The shift from traditional to online shopping platforms has the potential to offer industry participants in the consumer healthcare market with enticing growth prospects. Numerous vitamin health products, protein drinks, and supplements are available online from websites like PharmEasy, vitacost.com, healthkart.com, MedlinePlus, and vivavitamins.com.
US Consumer Healthcare Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONGlobal Consumer Healthcare Market size was valued at USD 364.41 billion in 2019 and is poised to grow from USD 391.49 billion in 2023 to USD 694.58 billion by 2031, growing at a CAGR of 7.43% during the forecast period (2024-2031).
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Product ID: SQMIG35D2021