MarkNtel Advisors recently published a detailed industry analysis of the Egypt Consumer Health Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Egypt Consumer Health Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Egypt Consumer Health Market is projected to grow at a noteworthy CAGR of around 5.5% during the forecast period, i.e., 2023-28.
What are the major Driver the Egypt Consumer Health industry?
Ever-growing Health Consciousness Among Egyptians – Modern customers are health-conscious and often look for new ways to ensure their health & well-being. As a result, they choose self-medication over other medications, i.e., augmenting the sales of preventative consumer healthcare products like OTC drugs, which do not require a prescription from a healthcare provider and are easily available at any store or pharmacy. Consumers often purchase these products, on their own, for relief from common health problems like clogged nose, cold, nasal congestion, or cough.
Besides, dietary supplements, sports nutrition products, weight control products, and functional foods & beverages are also being purchased increasingly by the rapidly growing health-conscious population in Egypt. Hence, this emerging trend of self-medication among consumers owing to their ever-increasing health consciousness is the prime aspect projected to drive the Egypt Consumer Health Market during 2023-28.
Growth Restraint: Lack of Consumer Knowledge of OTC Drugs Usage & the Presence of Counterfeit Medications to Hinder the Market Growth
Despite growing awareness of healthcare, many Egyptians still lack knowledge about OTC drugs & their appropriate usage, i.e., leading to ever-increasing instances of drug misuse & overuse, leading to the rising health risks & complications, which is the prime aspects projected to hinder the growth of Egypt Consumer Health Market.
In addition, owing to high import costs & taxes, some OTC drugs in Egypt have prices higher than consumer affordability, which makes it difficult for them to buy these products, i.e., another growth challenge to the market. Moreover, the availability of counterfeit drugs in the country is another big concern for consumers to purchase products as they are not sure about their safety & effectiveness. Hence, these aspects are likely to hamper the expansion of the Egypt Consumer Health Market in the years to come.
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What segments define the Egypt Consumer Health Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Disease Type
- Cardiovascular Diseases
- Respiratory Diseases
- Lifestyle Diseases
- Diabetes
- Obesity
- Depression
- High Blood Pressure
- High Cholesterol
- Others
By Category
- Weight Management & Wellbeing
- Sports Nutrition
- Pediatric Health
- OTC Pharmaceuticals
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Egypt Consumer Health Market Share & Competitive Landscape:
The Egypt Consumer Health Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Egypt Consumer Health Market are:
- GSK Consumer Healthcare
- Abbott Laboratories Inc.
- Bayer Middle East FZE
- Atkins Nutritionals Inc.
- 21st Century Healthcare
- Nestlé Middle East FZE
- Heinz Africa & Middle East & Africa FZO
- Vitabiotics Ltd
- Glanbia Plc
- Quest Nutrition LLC
- Alcon Middle East
- Allergan Plc
- Johnson & Johnson
- Others
Recent Developments in the Egypt Consumer Health Industry
October 2022: Bayer announced setting up an OTC (Over-the-Counter) production hub in Egypt in partnership with one of the local pharma companies. The company’s three-year strategy is to expand the business within the Egyptian market by producing 60-70% of OTC medicines for local consumers by the end of 2025. In addition, Bayer is also planning to invest $12 million in local manufacturing and will re-launch 5 new consumer health-related products by the end of 2025.
Questions Addressed in this Study
1.What factors are driving the Egypt Consumer Health Market growth?
2.How is the Egypt Consumer Health Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Egypt Consumer Health Market?
4.What is the current size of the Egypt Consumer Health Market, and how is it projected to change in the future?
6.What is the future outlook for the Egypt Consumer Health Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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