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Other Health and Personal Care Stores Global Market Report 2022

·4-min read

Major players in the other Health and personal care stores market are USANA Health Sciences Inc, Enzymatic Therapy Inc, Ajinomoto Health And Nutrition North America Inc, Super Supplements Inc, Herbalife Nutrition Ltd, Forever Living Products International, Trivita Inc, Nature’s Sunshine Products Inc, ForeverGreen Worldwide, and Integrated Biopharma Inc.

New York, June 01, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Other Health and Personal Care Stores Global Market Report 2022" -

The global other health and personal care stores market is expected to grow from $56.95 billion in 2021 to $58.03 billion in 2022 at a compound annual growth rate (CAGR) of 1.9%. The market is expected to grow to $59.35 billion in 2026 at a compound annual growth rate (CAGR) of 0.6%.

The other health and personal care stores market consists of sales of health and personal care products excluding medicines, optical products, perfumes, cosmetics, beauty supplies, and food supplement products in the retail and wholesale industry.This part of the industry is mainly engaged in retailing specialized health and personal care products which include medical equipment, diagnostics, hearing aids, personal mobility scooters, prosthetics, and sick room equipment.

The revenue generated by Other health and personal care stores sums the revenues of Convalescent supply stores, Prosthetic stores, Hearing aid stores, Sickroom supply stores, Medical equipment, and supplies stores, and Personal mobility scooter dealers.

The main types of other health and personal care stores are convalescent supply stores, prosthetic stores, hearing aid stores, sick room supply stores, medical equipment, and supplies stores, and personal mobility scooter dealers.Hearing aid stores refer to an electronic device for amplifying sound that is worn in or behind the ear of a person with hearing loss.

The categories included are mass products, and premium products The stores are licensed as branded, a brand licensed, and unbranded.

Asia Pacific was the largest region in the other Health and personal care stores market in 2021.North America was the second-largest region in the other Health and personal care stores market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

There is an increased concentration of growth in the number of surgeries performed worldwide across the historic period.Many people lose their lives from conditions that require surgical care.

By 2030, according to a study published by The Lancet Commissions, if the LMICs were to scale up the surgery rate annually then a minimum volume of 5000 operations per 100,000 population is expected to be fulfilled by about two-thirds of countries. The increase in growth of the number of surgeries performed annually is expected to boost the market growth as surgeries will increase the demand for health and personal care products supply.

Product recalls in the global supply chain occur due to increasing concern about product safety among consumers.Retailers are the bridge or connection between the upstream supply chain which includes manufacturers & wholesalers and consumers.

In February 2020, Advanced Bionics LLC (AB), a US subsidiary of Sonova Holding AG-a leading hearing aid provider has voluntarily recalled HiRes Ultra and Ultra 3D cochlear implants for corrective action, and this one time recall is estimated to cost them $51 million due to issues of reduced performance by the customers.In February 2020, ResMed recalled Stellar 100 and 150 Non-invasive and Invasive Ventilators due to the failure of the device.

During a reverse supply chain, a major role is played by the retailers thus a product recall has a negative impact on the retailers in terms of revenue.

The use of online supply platforms or e-commerce sites is gaining increased popularity among retailers and customers as well.Online retailing overcomes the traditional retailing stores in ways like limiting geographical barriers, cost-effective advertising, and marketing channels, creating a market for niche-products, providing customers to compare and shop, remaining open 24/7, creating targeted communication, and more.

In February 2019, Z5 Inventory, Inc., a global supply chain server company announced an online medical supplies store named which aims at providing long-dated products as low-cost alternatives to vendors. According to an article by BigCommerce Pty. Ltd., by the end of 2019, the global e-commerce revenue held 14% ($3.5 billion) of total retail sales which is expected to reach 16% by the end of 2020. E-commerce builds a new path without the need for a manual store for retailers to reach the customers.

In November 2019, PromptCare, a US-based regional provider of specialized respiratory therapy and infusion services acquired Florida’s Hollywood Medical Supply for an undisclosed amount.The deal has allowed PromptCare to enter the state of Florida and will place PromptCare in a leading place in Southeastern states of the US.

Florida’s Hollywood Medical Supply, a US-based medical supplier specializes in the supply of hi-tech respiratory services and medical supplies concentrating on medically fragile children of Florida.

The countries covered in the other Health and personal care stores market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Read the full report:

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