21 January 2015

Mobile health will impact consumer healthcare industry in the long run

Market researcher Euromonitor International says mobile health (mhealth) is an emerging market segment to watch in the global consumer healthcare market.

According to Euromonitor, mhealth is about engaging consumers via mobile apps and devices with the purpose of modifying behaviour towards improved health outcomes. 

In 2014, over-the-counter (OTC) remedies such as sleep aids, eye care, dermatologicals and digestive remedies performed very well with US$36 billion in sales globally. Emerging market segment sports nutrition grew strongly in the mass market with US$10 billion in sales globally, but still represents the smallest category within the consumer health industry at 4.7% share.

The company said the global consumer health industry experienced 5.7% growth in current/fixed currency terms, with US$216.4 billion in retail sales globally in 2014. 

"The industry keeps growing at a healthy pace as significant corporate consolidation will transform the competitive landscape and the rise of mobile health will impact consumer behavior in years to come,” said Euromonitor's Head of Industry Research, Monica Feldman.