Skip to main content

OTC Consumer Health Products (Powder Form) Market Set for Huge Growth in the Near Future

The global market for over-the-counter health products of powder form is projected to experience incremented demand at a CAGR of 3.6% during the forecast period of 2017 to 2025, which is primarily a reflection of growing awareness among the consumers regarding the prevalence of lifestyle diseases. In addition to that, escalating percentage of geriatric population, increasing disposable income, deep penetration of social media, and fitness trends are augmenting the demand in the global OTC consumer health products market. On the other hand, adverse effects of some of the supplements, the lack of valid literature, and counterfeit pharmaceuticals are hindering the market from attaining its true potential. The report estimates the global OTC consumer health products market to be worth US$40.6 bn by the end of the forecast period, which is 2025.
Based on indication, this TMR report segments the global OTC consumer health products market into skin care products, oral care products, nutritional supplements, gastrointestinal products, and wound care management products. In 2016, the nutritional supplements segment served the maximum demand, and is expected to remain most fruitful aspect of the market throughout the forecast period, which is primarily attributed to the growing demand for vitamins and dietary supplements and the sports nutrition products.
The report observes that health conscience is increasing among the urban population as a result of changing lifestyle, growing percentage of geriatric population, increasing disposable income, and widespread penetration of social media. On the other hand, the gastrointestinal products segment is expected to sustain its position as second most important segment, as a result of increasing heartburns.
Out of five major regions evaluated by this report: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, the OTC consumer health products market earns maximum demand from North America, which houses two developed countries in the U.S. and Canada. In the near future, North America is expected to maintain its leading position, as a result of high adoption rate of OTC products, changing lifestyle choices, growing demand for healthier options, and escalating geriatric population. In addition to that, as a number of leading players have headquarters in the U.S., strategic acquisitions is expected to reshape the competitive landscape of OTC consumer health products market in North America.
Europe, currently, is the second most lucrative region, with Germany as the leading revenue generating country, although vastly populated region of Asia Pacific is projected to increment the demand for OTC consumer health products market at most robust CAGR during the forecast period of 2017 to 2025. In the near future, two of the most promising emerging economies, India and China, are expected to turn Asia Pacific into a goldmine for the vendors operating in the global OTC consumer health products market.
Some of the key companies currently operating in the global market for over-the-counter consumer health products of power form market are: Pfizer, Inc., Piramal Enterprises Ltd., Abbott Laboratories, Bayer AG, Sun Pharmaceuticals Ltd., GlaxosmithKline plc, Johnson & Johnson, Ipsen, Sanofi S.A., American Health, and Glenmark Pharmaceuticals Ltd. In the near future, development of new products that have fewer to no side effects, imparting awareness via social media and aggressive marketing, and geographical expansion is expected to be the common strategies by the key companies to expand their horizon and cope up with the intense competition.



Comments

Post a Comment

Popular posts from this blog

Wi-Fi Chipset Market Poised for an Explosive Growth in the Near Future

Wi-Fi is a technology based on the IEEE 802.11 standard which connects two or more devices using wireless communication within a limited area such as office building, school, home, or computer laboratory. Usage of Wi-Fi has increased significantly in residential and commercial places since the last several years due to the ease of its installation and operation. Currently, a number of devices including video-game consoles, digital cameras, digital audio players, digital printers, smart TVs, tablets, phones, and personal computers are available with built-in Wi-Fi technology. These devices can connect to the internet with the help of wireless access point or wireless LAN (Local Area Network) and can provide control and monitoring of a system from a remote location. Wi-Fi chipsets usually operate in 2.4 gigahertz UHF (Ultra High Frequency) band and 5.8 gigahertz SHF (Super high frequency) band. Wi-Fi Alliance, comprising more than 375 organizations worldwide, establishes and enforces W...
Post a Comment
Read more

Keyless Entry System Market: Industry Outlook, Growth Prospects and Key Opportunities

Keyless entry system is technology that provides physical access to an individual inside any premises or automotive without the use of a mechanical key for performing the locking and unlocking operation. Keyless entry system provides an enhanced convenience and security to the users. In case of a keyless entry system, the users get secure and authorized access to an automotive or premise with the use of various external devices or gesture such as a keyless fob or a smart card, or by the use of their own voice, fingerprints or facial recognition among others. Owing to rapidly increasing adoption of smart technologies across various application sectors, keyless entry systems is increasingly installed among users especially in the transportation sector, government sector, banking financial services and insurance (BFSI) sectors and hospitality industry among others. The global Keyless Entry System market is anticipated to experience a robust growth during the forecast period from 2017 to...
Post a Comment
Read more

Automotive Leaf Spring Suspension Market - Business Strategies and Recent Development

Key priorities of automotive manufacturers include increasing operational performance, improving drivability, and ensuring the safe transport of cargo and passengers. Increasing acceptance of hybrid and electric vehicles and integration of smart and connected technologies have prompted manufacturers to focus on improving the power and drivetrain systems such as clutch, transmission, propeller shaft, axle, and leaf springs. Leaf springs are located between the wheels and the body of the vehicle. When the wheel passes over a bump, it rises and deflects the spring; thereby, storing the energy in the spring. On releasing, due to the elasticity of the spring, it rebounds thereby expanding the stored energy. Increase in demand for automobiles globally, is driving the leaf spring market. The leaf springs are primarily used in light, medium, and heavy-duty commercial vehicles such as pick-up trucks and vans. Some passenger car manufacturers rely on use of leaf spring technology for bet...
Post a Comment
Read more