Top Trends in Healthcare and OTC 2017: Exploring OTC medication, vitamins, minerals and supplements; functional food and drink; and sports nutrition categories
Summary
Global consumers are becoming more health-conscious as a reaction to rising obesity levels and lifestyle-related illnesses, such as diabetes, in the modern world. Consumers' busy lives are a major driver for the healthcare and OTC market as people opt for more convenient, multifunctional, and personalized products that better target their specific needs.
Over-the-counter (OTC) drugs are those sold directly to a consumer without a prescription from a healthcare professional, as compared to prescription drugs, which may be sold only to consumers possessing a valid prescription.
The pressures of modern life are taking their toll on consumers as their increasingly hectic lifestyles, due to work, active social lives and family responsibilities, means that stress is the most concerning health issue globally. As a result, healthcare products that help people become either more energized or focused (at work), or more relaxed (outside of work), will be very appealing to stressed consumers.
The majority of global consumers, 62%, are influenced by how a products health and wellbeing when choosing food products; while 60% are influenced when choosing non-alcoholic drinks.1 This is mainly the result of consumers greater awareness about the importance of a healthy balanced diet to their overall wellbeing. The importance of health and wellness for food and drink products is also due to the high levels of obesity impacting global consumers, particularly in more developed nations, causing concern amongst many individuals.
It has identified following key trends in healthcare and OTC -
- Multifunctional Products: Time poor consumers increasingly demand more multifunctional medicine, food and drink to effectively combat different symptoms simultaneously.
- Tailor-Made For Me: Consumers are realizing one size doesn’t always fit all, creating demand for more personalized products that target specific ages, gender, DNA, and usage occasions.
- Natural Lifestyles: Growing distrust of ‘artificial’ ingredients means consumers are going ‘back to basics’ and seeking more natural healthcare products that promote an all-encompassing holistic lifestyle.
- Smart Healthcare: Smartphones are set to revolutionize the ways in which consumers monitor their health as people increasingly turn to apps and the “internet of things.”
Companies mentioned in this report: Cold-Eeze, UVO, Culturelle, Kuxtal Alimentos Funcionales, Berocca Performance, Dr. Jacob's, Optrex Night Restore, Thylbert, Vive Organic, Masumax, Nature's Jeannie.
Scope
- 66% of global consumers agree that they are more likely to purchase products developed for their lifestyles.
- 77% of global consumers believe that natural claims are nutritious.
- 19% of global consumers will usually turn first to the internet for health or medical advice compared to 43% who first go to doctors or medical professionals.
- Understand what the top trends are in the healthcare and OTC market.
- Understand which audiences are most affected by these trends.
- Learn what the key opportunities, drivers, and inhibitors of the top trends are.
- See the actions that major brands are taking to get ahead.
- About the analysis
- Content to help you learn from the past, understand the present, and see the future
- Introduction
- GlobalData has identified five key trends in healthcare and OTC
- The TrendSights trends that are driving growth in healthcare and OTC are pinpointed below
- Healthcare and OTC medication category definitions
- Trend relevance and potential for each healthcare and OTC category
- Recommended key innovation platforms across each healthcare and OTC trend
- Key drivers and inhibitors underpinning demand for healthcare and OTC
- Table Global: How concerned are you about the following health issues?1
- Common ailments and lifestyle-related illnesses are key concerns among global consumers
- Food and drink products must promote health and wellbeing to appeal to young adults
- Exercise is an essential way for many consumers to maintain their health and fitness
- Consumers are supporting their diet and health with essential vitamins, minerals, and supplements
- Table Global: To what extent are you trying to consume or avoid the following food groups?1
- Trend 1: Multifunctional Products
- Grab busy consumers' attention with time-saving multifunctional product offerings
- Consumers demand more convenient and functional healthcare products to save time
- Everyday functionality will appeal to consumers trying to maintain their wellbeing and health
- Example we like: convenient multifunctional healthcare
- Trend implications across the healthcare and OTC categories
- Trend 2: Tailor-Made For Me
- Many consumers seek personalized healthcare product offerings
- Consumers seek products tailored to their own demographic and lifestyle needs
- Products must meet consumers' age- and gender-related health needs
- Tailoring healthcare products to different lifestyles and activities will drive the market
- Examples we like: personalized healthcare
- Trend implications across the healthcare and OTC categories
- Trend 3: Natural Lifestyles
- Consumers demand simple, natural, and pure products that support their health
- "Natural" ingredients will increasingly drive the healthcare market
- "Natural" products are perceived to be more nutritious and to help consumers detox
- Natural claims appeal as artificial ingredients are perceived as harmful to health
- Products we like: all-natural healthcare
- Trend implications across the healthcare and OTC categories
- Trend 4: Smart Healthcare
- The internet and smart tech are enabling consumers to research, purchase, and use products differently
- The rise of the internet, tablets, and smartphones has changed how consumers manage their health
- Apps and smartphones offer consumers the chance to monitor their health more efficiently
- Table Global: "Do you use digital tools (e.g. smartphone apps, wearable devices) to monitor/manage the following?" (%)1
- Products we like: new technology to monitor long-term health
- Trend implications across the healthcare and OTC categories
- The Future
- Trend relevance and potential for each healthcare and OTC category
- Innovation implications across each healthcare and OTC trend
- Trends that could shape the future of healthcare
- Appendix
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