US Approach to Health Management Market Report 2021
£ 3,695 (Excl.Tax)
Description
Providing the most comprehensive and up-to-date information and analysis of the US Approach to Health Management Consumer market including the behaviors, preferences, and habits of the consumer.
Current Market Landscape
The COVID-19 pandemic elevated consumer awareness of many aspects of their personal health, spurring spending on health-related services and products. Health management is universal, and while many adults place significant pressure on medical professionals to guide their health and wellbeing, younger generations are taking it upon themselves and leveraging digital tools to gain the information they need to protect their health and wellbeing.
Future Market Trends in US Approach to Health Management
This report will explore consumer trends and behaviors toward finding treatments and information for specific ailments or good health. It will also explore prompts for seeking remedies and the success consumers experience when seeking information and resources for health management to help companies and brands better market to consumers.
Read on to discover more about the US Approach to Health Management consumer market, read our US Managing Common Illness Market Report 2021, or take a look at our other Healthcare and Medical market research reports.
Quickly understand
- The impact of COVID-19 on personal health management.
- US health management trends and purchase channel preferences among key demographics.
- Women’s stronger demand for mental health support.
- The need to re-focus health management routines on consumer priorities.
- US Health Management Market Size
Covered in this report
Brands include: Walmart, Care/of, Proof, Sugarbreak, Hilma, Beekeeper’s Naturals, MeMd, Vital Proteins, Anthem, Apple, CVS, Aetna, Vicks, MinuteClinic, TikTok, Instagram, Walgreens, Target, Amazon, Whole Foods, Kroger, The Vitamin Shoppe, GNC, Pillpack, JPMorgan Chase, Berkshire Hathaway, Basic Care, Lululemon.
Expert analysis from a specialist in the field
This report, written by Jennifer White Boehm, a leading analyst in the Healthcare and Medical sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Personal health is more important than ever before for consumers, but how they approach managing their health is evolving as consumers encounter new health concerns and goals. Adults are taking their learnings from the previous year and applying them to how they care for their health now, with a strong emphasis on mental wellness and illness prevention. The health care industry needs to evolve with consumers, adapting offerings to align with how and where consumers seek out health and wellness information and treatment options today.
Jennifer White Boehm
Director, US Reports
Table of Contents
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
- Economic and other assumptions
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Executive Summary
- Top takeaways
- Pandemic limits spread of common illness, amplifies mental health issues
- Leverage social to reach younger audiences
- Reach shoppers with interactive experiences
- Market overview
- Figure 1: Best- and worst-case forecast value sales of healthcare products and services, at current prices, 2016-26
- Impact of COVID-19 on approach to managing health
- Figure 2: Short-, medium- and long-term impact of COVID-19 on approach to health management, November 2021
- Opportunities and challenges
- Build trust to modernize the category
- Retailers need to evolve to become wellness destinations
- Room to grow for mental health resources
- Figure 3: Select health issues, by gender and age, 2021
- Utilize technology to increase reach with consumers
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The Market – Key Takeaways
- Healthcare market will rebound
- Aging population puts pressure on market
- Increasing access to internet will provide boon to telehealth
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Market Size and Forecast
- Historic and projected sales performance
- Figure 4: Best- and worst-case forecast value sales of healthcare products and services, at current prices, 2021-26
- Historic and projected sales performance
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Market Factors
- Aging population drives demand for chronic illness solutions
- Figure 5: Population aged 18 or older, by age, 2016-26
- Closing the digital divide supports the future of telehealth
- Aging population drives demand for chronic illness solutions
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Companies and Brands – Key Takeaways
- Mass merchandisers add to wellness offerings…
- … yet drug stores are evolving, too
- Expect tech-enabled solutions and services to play a role in future of health management
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Competitive Strategies
- Mass merchandisers beef up wellness offerings
- Figure 6: Walmart DTC wellness partnership Instagram post, 2021
- Pandemic brings new opportunities for digital health solutions
- Mass merchandisers beef up wellness offerings
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Market Opportunities
- Drug stores need to improve in-store experience
- Common illness remedies lean into self-care positioning
- Figure 7: Vicks Immunity Zzzzs product, 2020
-
- Figure 8: Care/of Instagram, 2021
- Leverage social media to reach younger demographics
- Figure 9: TikTok wellness hub, 2021
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The Consumer – Key Takeaways
- Drug stores need to evolve to minimize channel leakage
- Mental health issues become more prominent
- Treatment solutions vary based on health issue
- Greater awareness of self creates barriers to seeking solutions
- Consumer reviews influential for parents, young adults
- Consumers turn to what they know when sick
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Purchase Channels
- Outside drug store channel leakage
- Figure 10: Purchase channels, 2021
- Channel preference varies by age and gender
- Figure 11: Select purchase channels, by gender and age, 2021
- Mass retailers win rural residents
- Figure 12: Select purchase channels, by area, 2021
- Outside drug store channel leakage
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Health Issues
- Consumers experience wide range of health issues that need solutions
- Figure 13: Health issues, 2021
- Younger women have strong need for mental wellbeing support
- Figure 14: Select health issues, by gender and age, 2021
- Make mental health support accessible for all to end the cycle
- Figure 15: Select health issues, by household income, 2021
- Parents need support
- Figure 16: Health issues, by parental status, 2021
- Consumers experience wide range of health issues that need solutions
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Sources for Treatment
- Health issue dictates resources used, but professional opinions top the list
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- Figure 17: Sources of treatment when sick, 2021
- Healthy adults turn to professionals too
- Figure 18: Treatment sources when healthy, 2021
- Boost health support on social to reach a younger audience
- Figure 19: Sources for treatment – any condition, by age, race and Hispanic origin, parental status, 2021
- Most consumers find what they are looking for
- Figure 20: Search success rate, by health issues, 2021
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Barriers to Seeking Treatment
- Being “in tune” with body deters information seeking
- Figure 21: Barriers to seeking treatment, 2021
- Being “in tune” with body deters information seeking
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Health Solution Criteria
- Cost and convenience as important as recommendations
- Figure 22: Health solution criteria, by ailment type, 2021
- Accessibility and trust are key
- Figure 23: TURF Analysis – Health solution criteria, 2021
- Methodology
- Peer reviews have stronger influence on younger adults, parents
- Figure 24: Importance of customer reviews, by age, parental status, 2021
- Cost and convenience as important as recommendations
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Healthcare Provider Interest
- Adults gravitate toward what’s familiar
- Figure 25: Healthcare provider interest, by ailment, 2021
- Young adults live in a digital health world
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- Figure 26: Digital healthcare provider interest, by any ailment (net), by age, race and Hispanic origin, 2021
- Parents open to a range of health providers
- Figure 27: Select healthcare provider interest, by any condition (net), by parental status, 2021
- Adults gravitate toward what’s familiar
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Appendix – Data Sources and Abbreviations
- Data sources
- Sales data
- Forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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Appendix – The Market
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- Figure 28: Total US retail sales and forecast of health, OTC and vision, at current prices, 2016-26
- Figure 29: Total US retail sales and forecast of health, OTC and vision, at inflation-adjusted prices, 2016-26
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