Other Health and Personal Care Stores Global Market Report 2024

The other health and personal care stores market size has grown steadily in recent years. It will grow from $70.36 billion in 2023 to $73.64 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth observed during the historical period can be attributed to various factors, including consumer trends related to health and wellness, an aging population that seeks specialized health and personal care solutions, and the increasing interest in alternative medicine and therapies. These factors have contributed to the expansion of the other health and personal care sector.

The other health and personal care stores market size is expected to see steady growth in the next few years. It will grow to $88.25 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing prevalence of e-commerce and online retail, a growing emphasis on personalized health and wellness solutions, the emergence of CBD and cannabis products, the demand for natural and organic products, and the proliferation of health monitoring devices. Notable trends expected in this forecast period encompass the continued growth of e-commerce and online sales, the customization and personalization of health and personal care products, the focus on natural and organic offerings, and the adoption of holistic and alternative medicine in the other health and personal care sector.

Over the historical period, there has been a notable increase in the number of surgeries conducted worldwide. Unfortunately, many lives are lost due to conditions that necessitate surgical intervention. A study published by The Lancet Commissions indicates that low- and middle-income countries (LMICs) need to annually scale up their surgery rate to meet a minimum volume of 5,000 operations per 100,000 population, a target that approximately two-thirds of countries are expected to fulfill. The rising number of surgeries performed each year is anticipated to drive growth in the market, as increased surgeries create higher demand for products available in the health and personal care stores market.

The different types of health and personal care stores in this category include convalescent supply stores, prosthetic stores, hearing aid stores, sick room supply stores, medical equipment and supplies stores, and personal mobility scooter dealers. For instance, hearing aid stores specialize in electronic devices that amplify sound and are worn by individuals with hearing loss. These stores may offer various categories of products, including mass-market products and premium products. Additionally, the stores themselves can be categorized as licensed, branded, brand-licensed, or unbranded establishments, depending on their affiliations and certifications.

The other health and personal care stores market research report is one of a series of new reports that provides other health and personal care stores market statistics, including other health and personal care stores industry global market size, regional shares, competitors with other health and personal care stores market share, detailed other health and personal care stores market segments, market trends and opportunities, and any further data you may need to thrive in the other health and personal care stores industry. This other health and personal care stores market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing awareness among individuals about personal care products is poised to stimulate the expansion of the other health and personal care store market in the future. Personal care encompasses consumer products used for personal hygiene, self-care, and beautification. The increasing availability and utilization of personal care products can lead to greater demand for health and personal care stores. These stores offer convenience, expertise, and access, serving as essential destinations for consumers seeking to meet their health and wellness needs. For example, in 2023, according to Cosmetics Europe, a Belgian-based personal care association, 500 million consumers worldwide use personal care products daily to enhance their well-being and safeguard their health. Additionally, the personal care industry contributes approximately USD 31.23 billion (€29 billion) annually to the European economy. Thus, the growing awareness of personal care products is a driving force behind the expansion of the other health and personal care store market.

Within the global supply chain, product recalls are becoming more common due to heightened consumer concerns about product safety. Retailers play a pivotal role as intermediaries between the upstream supply chain, which includes manufacturers and wholesalers, and consumers. For instance, in February 2023, major companies like Unilever, Procter & Gamble, and Johnson & Johnson initiated recalls of aerosol sunscreens, deodorants, and dry shampoos due to benzene contamination. Product recalls have negative repercussions for retailers in terms of revenue.

Prominent companies in the other healthcare and personal care stores market are introducing new brands available in various stores to boost their revenues. The introduction of Maude and Luna Daily at Sephora has solidified these brands' positions in the sexual wellness and intimate care market, while also providing a valuable opportunity for Sephora to diversify its offerings in this category. For example, in April 2023, Maude, a U.S.-based personal care brand, and Luna Daily, a U.S.-based body care brand, introduced intimate care products from both brands in over 260 Sephora stores. Maude became the first sexual wellness brand to be stocked in Sephora's brick-and-mortar stores, and Luna Daily was the inaugural exclusive U.K. intimate care brand to launch at Sephora.

The adoption of online supply platforms or e-commerce sites is gaining increasing popularity among both retailers and customers. Online retailing offers advantages over traditional brick-and-mortar stores, such as overcoming geographical constraints, cost-effective advertising and marketing channels, catering to niche products, facilitating product comparisons and shopping, offering 24/7 accessibility, enabling targeted communication, and more. In November 2021, SMV Healthcare, a Chennai-based pharmaceutical company, launched MyMedicalShop.com, an online platform for purchasing medicines and healthcare products. E-commerce provides retailers with a new avenue to reach customers without the need for a physical store.

In April 2022, Lifesupply Health Supplies Inc., a Canada-based medical supplies company, acquired Smart Move Medical for an undisclosed amount. This acquisition is set to expand the distribution network of the company and provide broader access to an international network of suppliers. Smart Move Medical, based in Canada, is a supplier of medical equipment.

Major companies operating in the other health and personal care stores market include USANA Health Sciences Inc., Enzymatic Therapy Inc., Ajinomoto Health & Nutrition North America Inc., Super Supplements Inc., Herbalife Nutrition Ltd., Forever Living Products International Inc., TriVita Inc., Nature's Sunshine Products Inc., Integrated BioPharma Inc., CVS Health Corporation, Walgreens Boots Alliance Inc., Rite Aid Corporation, GNC Holdings Inc., The Vitamin Shoppe Inc., Sally Beauty Holdings Inc., Ulta Beauty Inc., Sephora USA Inc., Bath & Body Works LLC, Vitamin World Inc., PetSmart Inc., The Body Shop International Limited, Holland & Barrett Retail Limited, L'Occitane Inc., The Face Shop Co. Ltd., Kiehl's Since 1851 LLC, Lush Fresh Handmade Cosmetics Ltd., Vitamin Cottage Natural Food Markets Inc., Mother's Market & Kitchen Inc., Vitamin Shoppe Inc., Life Time Inc., Pharmaca Integrative Pharmacy Inc., Sprouts Farmers Market Inc., Planet Fitness Inc., New Seasons Market LLC, Smoothie King Franchises Inc., Juice It Up! Franchise Corporation, Massage Envy Franchising LLC, European Wax Center LLC, Equinox Holdings Inc.

Asia-Pacific was the largest region in the other health and personal care stores market in 2023. North America was the second-largest region in the other health and personal care stores market. The regions covered in the other health and personal care stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the other health and personal care stores market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The other health and personal care stores market includes revenues earned by entities by include medical equipment, diagnostics, hearing aids, personal mobility scooters, prosthetics, and sick room equipment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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