In this article, we will give you some valuable insight on the Consumer Healthcare market over the next couple of years looking at 2030.
First, we will take a look at the global outlook situation for the Consumer Healthcare market, including future growth and trends in the market, as well as segments with a possible high potential. Then we will dig in to the situation in specific countries.
The Global market growth outlook to 2030
The next decade will present a great opportunity for OTC & Healthcare companies, providing them with an industry that is expected to show steady and consistent growth of roughly 4% per year. With a revenue of slightly over 80 US$ Bn in 2020, the industry is projected to grow to almost 100 US$ Bn by 2030 in ex-factory prices.
Global market trends
A few months into COVID-19, consumer shopping of OTC products already showed a strong trend of moving to online. This habit seem to have stick even after the COVID-19 crisis. The OTC & Healthcare product online category is expected to grow by up to 35%. This however is very much depending on product segments and local regulations.
Segments with high potential
Ophthalmic Products are expected to continue to dominate the OTC market quite considerably in the future. Vitamins, Minerals, and supplements along with Analgesics will also represent a huge part of the OTC market, followed closely by Dermatology and Gastrointestinal products. Moreover immune protection might further develop even after the pandemic. Due to the fact that the world eating/food trends are constantly enlarging and changing we also see good growth trends in gastro health. Also all the products supporting a good sleep as well as products influencing mental health positively will have good growth options.
Countries with the most potential
The leading Consumer Healthcare markets in 2030 will remain the following: US, Japan, Germany, France, Italy, UK, Spain, Canada, South Korea and Australia. The most interesting countries might be located in the emerging markets. In 2030, about 45% of sales for Consumer Heath & OTC companies will be generated in international Emerging Markets such as: China, Russia, Brazil, Peru, Chile, Mexico, Columbia, Saudi Arabia, Ukraine, Egypt, India, Vietnam and the Philippines. However, this is also depending on specific segments, government and regulatory boding influencing the markets´ aspects.