Bringing Relief Through OTC Consumer Health Products Market
SWOT Analysis
Strength: Large product portfolio and wide geographical presence of key players like Johnson & Johnson, Bayer AG and Abbott Laboratories across the globe.
Weakness: High competition from local players offering cheaper alternative products.
Opportunity: Increasing spends on healthcare and preventive care in emerging nations present an opportunity for market expansion.
Threats: Stringent regulations surrounding OTC drugs; new product patent expiration allowing generic versions.
Key Takeaways
The Global OTC Consumer Health Market Size is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing health consciousness among consumers.
Regional analysis: The US market currently dominates the global market with over 30% value share owing to rising elderly population. However, Asia Pacific region is expected to witness fastest growth over forecast period with China, India being major revenue generators.
Key players: Key players operating in the OTC consumer health market are Johnson & Johnson, Abbott Laboratories, Sanofi, GlaxoSmithKline plc. Bayer AG, Nestle Company, Procter & Gamble Corp., Danone Food Company, Colgate Palmolive Mfg. Company, Unilever, and Henkel AG & Co. KGaA
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