The first quarter of 2020 saw a dramatic shift in consumer shopping behaviour, greatly impacting the Consumer Health market. As lockdowns ease, it’s time to take a look back at market performance prior to the pandemic to identify innovation trends and understand the effects of OTC Monograph Reform.
Between 2015 and 2019, the global Consumer Healthcare market had been slowing, with a slight decline in sales during 2019 primarily due to a slowdown in the retail sector across North America and Western Europe. However, the global Consumer Healthcare market is expected to grow by 5.6% annually over the next five years (1) as the retail market recovers from the impact of COVID-19.
As consumers begin to take their health more seriously, the Over-the-Counter (OTC) medicine market is seeing consistent, predictable growth. As the leading development and supply partner to the industry, Catalent hosted a webinar that assessed the health of the OTC market prior to the COVID-19 outbreak, the impact of OTC Monograph Reform, and highlighted innovation partnership opportunities moving forward.
With more than 85 years of experience in the industry, Catalent has become a global leader in providing end to end development and delivery solutions, leveraging a broad range of innovative technologies, deep technical expertise, and a global supply footprint to enable brands in the OTC, VMS, and beauty sectors of consumer health to accelerate growth.
(1) Source: DB6 Global CHC Database.