Consumer Health In 2024: ‘Switch Power,’ ‘Reframing Sustainability’ And Meeting Household Budgets

… health empowerment.

In 2024, we expect health and wellness to continue to be of utmost importance and consumers to feel more empowered to take their health into their own hands. We anticipate increasing focus on empowering women’s health through life stages like menopause, advancement in digital and technology solutions, as well as telehealth 2.0 adoption. Further, we believe there will be more momentum in recognizing the importance of self-care’s role in the health care continuum with focus on health literacy and accessibility globally. At Kenvue, we feel a strong sense of responsibility to how we play a role in the health empowerment journey. Continued innovation as well as sustained reliability of our iconic, science-backed brands will remain important to supporting millions in their everyday care rituals.

At Sanofi Consumer Healthcare we are committed to supporting the self-care agenda in the UK, exploring new possibilities for switches, and working together with all stakeholders to shape a healthier future. And it is very exciting to be in a country that is leading the way in innovative switches and is a source of inspiration globally.

However, there are challenges ahead particularly in areas where stigma and social taboos are barriers for seeking treatment and creating health inequalities. One example is that more than 60% of Brits are too embarrassed to talk about their bowel movements to such an extent that many would suffer with constipation rather than buying a laxative from their pharmacy. We launched the Dulcolax #talkingpoopisgood campaign to try and get people talking more openly in this area.  Another example: in men’s health one in three men experience some degree of erectile dysfunction, but many are too ashamed and anxious to seek help. Our Cialis Together PeekaTaboo campaign was just the start of our important work in this area.

We are challenging taboos and championing better self-care literacy so people can make informed choices about their health and the options available. Making health care as simple as it should be to bring health and wellbeing to all is going to be a key priority for us in 2024 and beyond.

… significant transformation for the consumer healthcare industry.

This year is anticipated to bring a more integrated multi-channel approach and an acceleration in e-commerce, alongside stabilizing consumer prices and reduced inflationary pressures. We expect to witness a further divestiture of consumer healthcare assets from major pharmaceutical companies, accompanied by an increase in substantial deals for private equity funds. This period will also be marked by greater industry consolidation and a reimagining of pharmacy and retail chains, which will face ongoing challenges in competing with e-commerce and direct-to-consumer activities.

In 2023, many companies experienced challenges with stock shortages. It is hoped that this situation will improve in 2024, offering more stability and reliability in the supply chain.

Focusing on companies of our interest, such as Cooper and Vision Healthcare, 2024 presents numerous opportunities across various domains. For Cooper, following the anticipated completion of the €2 billion transaction involving the Viatris portfolio, which encompasses 200 brands across 50 countries, the second quarter of 2024 is set to be a period of significant organizational integration and expansion. This phase will include a focus on enhancing and investing in leading brands, with e-commerce and omnichannel strategies becoming increasingly critical. Cooper is forecasting accelerated growth in these distribution channels.

Vision Healthcare, a leading European direct-to-consumer company in the vitamins, minerals, and supplements (VMS) sector, plans to expand into the retail sector with select brands. The company is actively seeking to acquire additional retail brands, with an aim to further digitize them. This strategy reinforces Vision Healthcare's commitment to becoming a more comprehensive omnichannel player in the consumer healthcare industry. The company anticipates unlocking substantial synergies between brick-and-mortar and e-commerce channels, enhancing its market position and operational efficiency.

… building on our success addressing the needs of a growing number of erectile dysfunction sufferers.

The prevalence of erectile dysfunction (ED) continues to grow, affecting adult men of all ages and their partners across the world. The impact on men and their partner’s self-esteem and quality of life can be significant. We are extremely proud as the inventors of a cost effective and easily accessible clinically proven ED treatment. Therefore, in 2024 we will focus on bringing a new option to significant numbers of ED sufferers across new markets. We aim to build on what has been achieved to date, continuing the global roll out of our ground-breaking innovation that can help men get an erection in 10 minutes, bringing spontaneity to sexual intercourse. In many markets this will be the first time, including the key US market, that a clinically proven treatment will be available OTC, thereby opening up a new OTC sexual health care category.

… self-care for mental health.

The landscape of self-care for mental health is poised to undergo a transformative shift. As we embrace a new year, our focus will intensify on integrating technology with traditional self-care practices to enhance mental wellness. The rise of digital tools, including mindfulness apps, online therapy platforms and virtual support communities, is revolutionizing how individuals manage their mental health. Digital aggregators for mental health support are also becoming increasingly more common and will help deliver more personalized and accessible avenues for managing stress, anxiety and promoting overall emotional wellbeing. In the UK, the NHS is set to play a pivotal role in incorporating digital self-care strategies, and policies are already being shaped to integrate digital mental health services, making them more accessible to diverse populations.

The year also highlights the importance of digital literacy in mental health. Given the abundance of online resources, the challenge lies in navigating and utilizing these tools effectively. Educational initiatives aimed at enhancing digital mental health literacy are also becoming increasingly important, so is the concept of a digital detox including balancing screen time with offline activities. 

As we venture into 2024, the synergy between digital innovation and traditional self-care practices is set to redefine mental health and wellbeing strategies. Self-Care for Mental Health & Wellbeing is the 2nd pillar of self-care and will be the theme for this year’s International Self-Care Day, which will be celebrated the world over on 24 July.

… supercharged self-care.

Self-care empowers consumers and provides outstanding value for money. But increasing pressure on UK NHS resources is starting to make self-care a necessity rather than a choice.

There are now more ways than ever to practise self-care. The traditional consumer healthcare product portfolio of OTC medicines and supplements has been augmented by an increasing array of self-care medical devices, health monitors, home diagnostics and healthcare apps. As primary care services face more intense pressure, the key role of pharmacists as first-line healthcare providers is now finally being recognised with the introduction of the Pharmacy First scheme. While high-street pharmacies have had a tough year, the online sector is booming – the last year saw a significant rise in consumers obtaining prescription-only medicines through online pharmacies and clinics, most notably within the weight-loss category.

Against this background of expanded access routes, the 'conventional' consumer healthcare sector will have to work harder than ever. With the newly relaunched Reclassification Alliance established, we can probably expect some exciting 'first in class' POM-P (prescription-only medicine to pharmacy) switches in 2024. However, making these switches commercially successful could be challenging, given consumers can already self-select and obtain a very wide range of prescription medicines online as easily as they could obtain newly switched OTC medicines through a pharmacy consultation.

For AdverCheck, 2024 will be a year of continued collaboration and increased growth. We are looking forward to continuing our valued partnership with the PAGB through our involvement in the advertising and reclassification working groups. We have been lucky to work with three of the top five consumer healthcare companies over the last year, with new clients lined up for 2024. We believe the trend to outsource copy review, either to cover periods of increased demand or for ongoing support, will continue within the consumer healthcare sector, freeing up specialist internal departments to focus on growth activities.

… another pivotal year as we move into the era of AI.

Now that many of us have had their first attempts and got their first experiences with ChatGPT, 2024 will be a big year of artificial intelligence. Most of us will work to learn more about AI, to increase our knowledge about it, and aim to understand how it can be used in our specific area and function. We know that AI will revolutionize every area of business, whether it is R&D, supply chain, quality control, human resources, finance, administration, and many others. We marketers will focus to understand the new opportunities which will be available to us: faster and cheaper consumer insights and insight summaries on specific topics, better and target-adapted content and messaging, better understanding and identification of our consumer target groups, and better understanding of their media use and many others.

AI will make us sharper, faster, and more efficient – that is the positive side of it.

In 2024 we will also see more discussion at all levels about the limits to AI, how to prevent and control fake news, how to set an appropriate and safe legal framework to protect our citizens from misuse of AI. This is a very hot topic. During the Christmas break, everybody I talked to expressed their expectations on the benefits of AI but also their fear of it and its potential misuse. And as we know, the world is altogether more hostile with many more aggressors and dictators since 2000, who might love to misuse AI against democracies and their citizens. So, we will see many discussions at a political level, in companies and in private groups, as they all are looking for rules how to protect their own confidential data and how to protect themselves from fraud and deception.