Competitor Strategies in Consumer Health

Delivery

This report comes in PPT.

Key Takeaways

Consumer health brands aim to fit into consumers’ life routines and remain top-of-mind when they think about their health needs

Leading pharmaceutical players such as Haleonplc, KenvueInc, Bayer AG, Sanofi and Reckitt Benckiser Group Plc continue to dominate within the consumer health industry. Over the last few years, a greater shift has been seen by leading players, such as Haleonplc spinning off fromGlaxoSmithKline in July 2022 and Kenvue Inc the spin-off of Johnson & Johnson in May 2023, focusing on being consumer health companies and being more present in consumers’ everyday life for their health management and illness solutions through existing and new product portfolios and marketing campaigns.

Wellness at the forefront for consumers as self-care takes centre stage for maintaining healthy years

There is a greater desire for consumers to maintain health for longer periods amidst challenging and uncertain times, stemming from the need to spend quality life and time to do what they want including their ability to work and earn and connect with loved ones. Hence, the trend of wellness products for self-care that help consumers optimise their health effectively for the short, mid and long term.

Health management and illness treatment go hand in hand

Consumer health companies are evolving their existing product portfolios to manage not only illnesses and diseases and their symptoms such as pain management but also creating deeper approaches and formulations to deal with evolving gaps in the market for consumers. This requires companies to have a deeper understanding of the nature of their consumers’ health considerations and provide effective solutions that integrate medical and technological approaches that address individual needs.

Technology answers consumer questions, fosters innovation and manages supply and demand

Incorporating technology effectively across the business departments within the consumer health industry is to remain crucial for its progress and long-term profits. This can include usage of technology to facilitate human interactions through online marketing campaigns, leveraging social media pages to connect directly with consumers, supply chain management, and innovation development and efficiencies.

The quest for genuine sustainability for healthy people and planet

Consumers want to see more from governments and businesses in a sustainable yet affordable way, authentically contributing to the wellness of the planet along with its people. Pushing the envelope around authentic and genuine sustainability has yet to be materialised especially as consumer health players, from across cross industries such as FMCG players Nestlé and P&G and former pharmaceutical companies Haleon and Kenvue, have joined in along with rest of the industry in having strategic sustainability plans and reporting in place to be implemented.