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Global Consumer Healthcare Services Industry Report: Analysis and Forecast 2022-2027

Global Consumer Healthcare Services Industry Report: Analysis and Forecast 2022-2027

Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Consumer Healthcare Services Industry Report

The global Consumer Healthcare Services industry was valued to be worth USD 355 billion in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 7 percent, achieving a value of around USD 533 billion by 2027.

The Consumer Healthcare Services industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. The progress of the industry is mainly because of the moving demand for self-medication and over-the-counter products. Moreover, the increasing elderly population who are at risk of getting ill with various diseases is another reason that is supporting the development of the healthcare market globally. North America is the biggest category spender by region which is impelling the demand for the Consumer Healthcare Services industry.

Consumer Healthcare Services: Industry Definition and Segmentation

Scope

Consumer healthcare services is a section of the healthcare industry that does business with wellness, nutrition, and skincare goods. Consumer healthcare commodities largely consist of over-the-counter (OTC) medications that contain vitamin and mineral supplements and drugs that are sold to the customers without any prerequisite for a written prescription given by a healthcare professional. Some kinds of toothpaste, mouthwashes, eye drops, some kinds of wart removers, ointments containing antibiotics, first aid creams, and dandruff shampoos are considered OTC drugs.

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The Consumer Healthcare Services industry report comprises segments by:

  • Region – Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

Snapshot of the Report

The regional market for the Contract Mining Services industry can be divided into North America, Europe, Asia Pacific, and Latin America.

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Category Drivers

  • The market is observing expansion essentially due to the altering demand for self-medication and OTC commodities. The customers do not require a written prescription given by the doctors or healthcare specialists to buy the OTC products and can purchase these straight from the medical store. For example, as per the Consumer Healthcare Products Association, U.S. families on average pay around USD 338 per year on OTC products.
  • The escalating number of the elder population is susceptible to developing diseases is an additional cause that is promoting the advancement of the worldwide consumer healthcare market.
  • The emerging appreciation and acceptance of the OTC products particularly amongst the aged people are further assisting in the progress of the market.
  • The rising cost of healthcare has become a critical factor that is causing the growth of the consumer healthcare market.
  • The ever-changing trends from standard to online shopping platforms are presenting an advantageous platform for the further expansion of the market players existing in the industry.

Category Insight by Region

  • North America has built itself as the major region in the consumer healthcare market, followed by Europe, Asia Pacific, and the Rest of the World.
  • This is chiefly because of the presence of the top pharmaceutical giants, medical device production firms, CRAMS companies, consumer products, and health insurance companies in the region and the subsequent viable edge attained for operative supply channels for consumer healthcare products in the region.

Best Procurement Practices

The global Consumer Healthcare Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by Consumer Healthcare Services providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.

Category Management Analyses

Consumer healthcare services belong to any oral, nutritional, and skincare or any other healthcare product or instrument that is made accessible to the buyers in the stores and online platforms. These commodities do not involve a medical prescription to be purchased. Nonetheless, consumer healthcare services suppliers do not incorporate any product or device that is under some governing agreements and need a written prescription by a medical specialist.

Strategic Market Players Incorporated in the Global Consumer Healthcare Services Industry Report

The prominent companies in the market are GlaxoSmithKline Plc, Sanofi, Novartis AG, Bayer AG, and Abbott.

The industry report contains mergers and acquisitions, plant shutdowns, investments/divestments, capacity additions, and other latest developments in the market.

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Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertake extensive research to provide our customers with the latest and up-to-date market reports, cost-models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele. We work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with the updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate, so that they can form strategies which ensure their optimum growth.

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Procurement Resource

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts.