Consumer health is an area of great concern in all the countries. Some have good track record in the field of consumer health while some have poor. There are few who are taking steps in improving the consumer health. One of such countries is China. China has seen a strong valuation in the field of consumer growth in 2016. The main reasons being-
- The trend of growing consciousness among the local consumers
- The pursuit for the personal well being has increased
- The introduction of nutrition supplement like sports nutrition and weight gain nutrients.
Legal Measures of Health FoodThe law has been framed stricter. According to the new Administrative Measures of Health Registration and Filing, the management manages the health food in the market. Established on the very first day of July in 2016, it works towards the strengthening of the health and food filing. It ensures the standardisation of the rapid growing health food market of China.
Who is the King?The big question arises about who is the winner. As per the market analysis and report, there has been increased in the competition amongst the joint ventures, mergers and acquisitions. With a view to provide more consumer health, new competitors are coming into the market by acquiring the consumer health manufacturers.For citation, take the example of the acquisition of Guangzhou Biostime Biologicals of an 83% share in Australia’s leading multivitamin brand for HK$ 7.7 billion in the month of September for the year 2015. On another stance, the consumer health providers worked hand-in-hand with each other to utilise the maximum possible existing resources that remained in the competitive market.
E-Commerce Retailing vs. Offline DruggistsThe ecommerce has provided the people with lot of convenience. As far as the buying and selling of the medicines are concerned, it is quite easy to compare the product price as well as features. This advantage made the internet medicine retail continue to remain in the double digit. However, on the same side of the coin, there are many people who still prefer to buy medicines offline. In spite of the various advancement made on the part of online medicine sale and purchase, local druggist and pharmacists still rule the market.The main reason why still many people prefer offline mode is because of the availability of the free or paid health consultancy if necessary. If considered as the other part, direct selling of the drugs through various distribution channels is also a part of consumer health. This has been made possible because of the presence of some the big giants in the market.
AnalysisThough, anything cannot be procrastinated in the case of market and business. It takes years to build an empire and a moment to destroy it. But as far as the present market trend is heading, it can be said that consumer health is supposed to record a steady growth value at constant 2016 prices. With the growing demand for the OTC products and the strong will by the local consumers for health food, the awareness for the healthcare, nutrition, weight has increased. As per the report it is also seen that the under no circumstance the growth rate is coming down to less than the double digit.
Quick ReceiptEverything here is quick and fast. As soon as any purchase is done the delivery details is sent to mail or the account showing all the details. With the involvement of the maximum portion of the consumer in the health drive market, china is the fastest growing research analyst in the field of drugs and medicines. Collect report of the old companies and study about the growing competitiveness. Study the market trend and the flow. For China, the healthcare industry is the duty of in-country analysts. You can improve the market business are as-
- Tell the people about the marketing brands and strategy and the tips for market development that includes enhancement of the products’ sales and supply.
- According to their strategy they also ask to find opportunity in every research result as such result contains the latest data. The data help in analysing the market risk, market trend, plan, and the strategy to be followed. These all things are discussed with the expert qualitative analysis and growth forecast.
- In the case one is involved in the health industry of China, the research will save money and time. It will empower in making informed, profitable and decisive
- Adult mouth care
- Calming and Sleeping
- Cough, cold and allergy
- Digestive remedies
- Ear care
- Emergency contraception
- Eye care
- Herbal and traditional products
- Medicated skin Care
- OTC obesity
- Sports nutrition
- Vitamins and dietary supplements
- Wound Treatment
Features of the Chinese Consumer Reports–The consumer report of china was submitted giving the details on how the report was prepared. The key points that were taken in consideration for preparing the report are as follows-
- The report was made after analysing the supply side and the demands
- A detailed analysis of the international market was made. Not only was this an analysis on the local products also made.
- Analysis was made on the values of the products and the company. The report has also taken in consideration the market share of the brand
- In the report, the report has also forecast the market trends and the market growth for the next five years
- The report has also taken into consideration the past track record of the brand, its productivity and sale.
Process of arriving into such conclusionsA lot of ifs and buts are always present while analysing a market. However, the analysis was made easily by fragmenting it into a questionnaire session-
- Analysing on market share and reach of the Consumer Health in China
- Analysing the brands presence and the brand that is playing the major role
- With each day trends change, therefore, studying about the trends in OTC Healthcare