Market Insights Consumer OTC Pharmaceuticals

Digestives & Intestinal Remedies - South Korea

South Korea

Revenue in the Digestives & Intestinal Remedies market amounts to US$0.42bn in 2024. The market is expected to grow annually by 3.55% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$4,408m in 2024).
In relation to total population figures, per person revenues of US$8.12 are generated in 2024.

Key regions: Thailand, Germany, Worldwide, India, Canada

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Currency

Analyst Opinion

In the Digestives & Intestinal Remedies market, rising health issues such as gastrointestinal disorders among people are the main driver of the market growth. Due to the industrialization of the food industry, the consumption of fast food has been increasing continually in recent years. The development and expansion of the food services industry further help the market generate higher revenues. Additionally, hectic lifestyle is facilitating the trend of eating out. As a result, the consumption of digestive and intestinal remedies is boosted because of the growing awareness of healthcare.

In 2022, the global Digestives & Intestinal Remedies market reached US$18.79 billion and recovered from a slight decline in 2020 brought about by the COVID-19 pandemic. In the forecast period, the market is expected to reach a CAGR of around 2%.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.