Top Trends in Healthcare and OTC Products 2018 - The latest trends in: OTC medication; vitamins, minerals, and supplements; functional food and drink; and sports nutrition
Healthcare and OTC products include OTC medications, vitamins, minerals, and supplements, functional food and drink, and sports nutrition. The overall category represents huge sales and shows no sign of slowdown as consumers become more health-conscious and opt for OTC and healthcare products to help facilitate this mindset. However, the category faces challenges going forward, which will impact the product choices consumers make, and the need for innovation.
Consumers' health awareness has risen as a result of improving education levels and greater access to health information and knowledge, which is the key driver in healthcare and OTC products. In 2017, the market value of OTC healthcare reached $141bn worldwide, with Asia-Pacific, as the leading market, accounting for 36.1%, followed by North America and Europe. In terms of future growth, Latin America is predicted to be the second-fastest-growing market between 2017 and 2020 after Asia-Pacific.
The growing natural trend has driven consumers to turn to food and drink as a way to maintain and improve health. As a result, the market has witnessed a boom in functional food and drink, formulated and positioned to deliver a preventive or curative approach to health. This has posed a threat to OTC medication and supplement brands, but also inspired them to develop formula sourced from food ingredients that are naturally health-enhancing, or create formats mimicking everyday food and drink.
Top Trends in Healthcare and OTC Products 2018, covers key trends to watch within the healthcare and OTC products sector, drawing upon TrendSights framework, insight analysis, innovation intelligence, and product examples.