Healthcare Market Domain

2239 Words9 Pages
The healthcare domain will be briefly reviewed as a whole, but will further analyze Johnson & Johnson’s world leading development of the consumer healthcare market to evaluate the evolution of the healthcare domain into the 3rd largest contributor to the United States Gross Domestic Product (GPD) (Bureau of Economic Analysis, 2016). the expected increase in the consumer healthcare market and how that growth will further propel Johnson & Johnson to maintain its status as the worldwide leader in sales of consumer healthcare products will also be analyzed (Johnson & Johnson Services Inc., 2016).
Healthcare Market Domain
In 2015, healthcare spending added over $1.3 trillion to the United States GDP (Bureau of Economic Analysis, 2016). According
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The most influential change is due to an increased consumer awareness regarding the ingredients contained in products and the effects that they are now known to cause with long-term use. This has greatly impacted several Johnson & Johnson products that had to be reformulated in order to remove potentially harmful ingredients. In its long history, Johnson & Johnson has endured numerous product recalls, lawsuits, and scandals. While such problems have occasionally been damaging for the company and its public reputation, it has remained extraordinarily resilient, ultimately surviving and thriving regardless of its shortcomings. Nonetheless, these issues are an important part of the company's history and central to the public's perception of its corporate…show more content…
Increased accessibility has allowed Johnson & Johnson to further develop already existing products, but to also work with populations in development of new products in order to meet specific healthcare needs. Technology has also allowed the company access to parts of the world not previously accessible, which has led to the discovery of new plants and other natural resources in which new products can be developed (Johnson & Johnson, 2016). With continuous improvements in technology, so will opportunity for growth. This growth will result in the need for additional employees to meet demand and more efficient products to comply with growing safety standards around the world. All of which will affect all aspects of Johnson &
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