Medical Health & Life Science Research News

Learn details of the top trends in healthcare and OTC market in upcoming years

Medical Market Research

Top Trends in Healthcare and OTC 2017", overs key trends to watch within the healthcare and over-the-counter sector, drawing upon GlobalData's TrendSights framework, insight analysis, innovation intelligence, and product examples.

Key Findings:

  • 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.

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Key inhibitors

The market is experiencing noticeable inhibitors to growth; notably high prices, inconvenience, ineffective and unnatural perceptions. Many consumers are price-conscious because of the lingering affects of the recent global economic downturn in 2008.

As such, consumers are not very willing to spend more on products personalized to their needs.

In addition to this, increasingly busy lifestyles, due to work and active social lives, mean consumers lack the time and patience for products which are less convenient or more complex, such as those which are smart or personalized. This will limit the markets potential growth as consumers are increasingly driven by time-constraints to meet their health needs on daily basis.

Finally, consumers are skeptical of “unnatural” products as they perceive them to be low quality; this will specifically inhibit the appeal of multifunctional products that don’t contain some level of “natural” ingredients.

Key drivers

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.

The desire for more natural and less “fake” or “artificial” healthcare is another major driver in the market as consumers are skeptical of the health benefits of products they perceive to be “unnatural.” Additionally, the growth of the internet and smart technology is  another key driver as consumers become more digitally connected to smartphones and tablets. This allows consumers to become more informed shoppers through company websites, blogs, and social media guiding their healthcare consumption.

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Table of Contents

1 About the Authors

1.1 Analysts

1.1.1 Global Head of Medical Devices

2 Table of Contents

2.1 List of Tables

2.2 List of Figures

3 Executive Summary

3.1 Overview

3.2 Market Dynamics

3.3 Key Players

3.4 Future Outlook

4 Introduction

4.1 Catalyst

4.2 Related Reports

5 Market Outlook

5.1 Procedure Trends

5.2 Pricing Trends

5.3 Revenue Trends

5.4 Company Share Analysis

6 Market Insights

6.1 North America

6.1.1 Canada

6.1.2 Mexico

6.1.3 US

6.2 Europe

6.2.1 Denmark, Finland, Norway, and Sweden

6.2.2 Belgium, France, and Netherlands

6.2.3 Austria, Germany, and Switzerland

6.2.4 UK and Ireland

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