As the COVID-19 pandemic has largely receded as the chief driver of growth, the global market for consumer health in 2022 has instead responded to a swift rise in global inflation, shortages to ingredients and raw materials, and bottlenecks in shipping. Together, these stifled real growth for the industry and wiped away gains from the rebounding demand for cough and cold remedies, sustained interest in sports nutrition, and the rise of lifestyle-orientated vitamins and dietary supplements.
This report comes in PPT.
In 2022, consumer health companies scrambled to adjust to a market environment dominated by shortages in supplies of essential ingredients and materials, severe shipping delays, and the corresponding inflationary pressures that forced them to make difficult decisions on their product portfolios. The industry will likely have to contend with similar dilemmas in 2023.
COVID-19 has sparked a revolution in online shopping for consumer health, and, despite some predictions of a comedown, consumers have sustained and extended interest in purchasing consumer health via e-commerce in 2022. As companies and regulatory regimes adjust, we expect this to continue into the forecast period, especially in long-neglected categories like OTC.
Mental health is at the front of every formulator’s mind in 2022, as consumers are loudly demanding solutions to long-unaddressed lifestyle concerns across the mental health spectrum, including stress, anxiety, sleepnessness, and worry. Consumer response is likeliest via partnerships to maximise the gains of pharmacological and behavioural approaches.
Increasingly, consumers demand solutions to a spectrum of considerations and expect them to scale up to a coherent whole that supports their health journeys. Enterprising companies are attacking this problem head-on by taking a page from personalised nutrition and curating an off-the-shelf menu that, combined, will address consumers’ largest needs.
Organic consumer demand for more robust OTC women’s health solutions has been met in recent months by political events that have only accelerated calls for such action. As a result, it is likely that the forecast period will increasingly see products formulated for health demands across a woman’s lifespan available without a prescription in many markets.
The year 2022 has been a banner year for company splits, the primary example being GlaxoSmithKline Plc’s divestment of its consumer health division into stand-alone company, Haleon Plc. The coming years are only going to deepen the industry’s commitment to separating pharmaceutical and consumer divisions, with Johnson & Johnson leading the charge.
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and WellbeingSee All of Our Definitions
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!