Market Insights Health OTC Pharmaceuticals

Digestives & Intestinal Remedies - ASEAN

ASEAN

The Digestives & Intestinal Remedies market market in ASEAN is projected to generate a revenue of US$1.05bn in 2024.
It is anticipated to experience an annual growth rate of 5.31% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of US$4,408.00m in 2024.
In terms of per person revenues, the market generates approximately US$1.51 in 2024.
In the ASEAN region, the demand for natural and herbal-based digestive remedies is on the rise, reflecting a growing preference for traditional medicine.

Key regions: Canada, United States, Australia, Brazil, Japan

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Analyst Opinion

The Digestives & Intestinal Remedies market in ASEAN is experiencing steady growth due to changing customer preferences and increasing awareness about digestive health.

Customer preferences: Customers in ASEAN are becoming more health-conscious and are actively seeking solutions for digestive issues. This has led to a growing demand for Digestives & Intestinal Remedies in the region. Consumers are now looking for natural and herbal remedies that are effective in relieving digestive discomfort. Additionally, there is a rising preference for products that are easy to consume and have minimal side effects.

Trends in the market: One of the key trends in the Digestives & Intestinal Remedies market in ASEAN is the increasing popularity of probiotics. Probiotics are live bacteria and yeasts that are beneficial for digestive health. They help in maintaining a healthy balance of gut bacteria and can alleviate symptoms of digestive disorders such as irritable bowel syndrome (IBS) and indigestion. The demand for probiotic supplements and foods has been on the rise as consumers recognize the benefits of these products.Another trend in the market is the growing availability of over-the-counter (OTC) digestive remedies. OTC products provide convenience to consumers as they can be easily purchased without a prescription. This has led to an increase in self-medication for common digestive issues such as acidity and bloating. Consumers are opting for OTC remedies as a first line of defense before seeking medical advice.

Local special circumstances: The Digestives & Intestinal Remedies market in ASEAN is influenced by local cultural practices and traditional medicine. Many countries in the region have a rich heritage of herbal remedies that are used to treat digestive ailments. These traditional remedies are often preferred by consumers due to their perceived effectiveness and minimal side effects. Manufacturers in the market are capitalizing on this trend by introducing herbal and natural products that cater to the local preferences.

Underlying macroeconomic factors: The growing middle class population and rising disposable incomes in ASEAN countries are driving the growth of the Digestives & Intestinal Remedies market. As people have more purchasing power, they are willing to spend on products that improve their overall well-being. Additionally, the increasing urbanization and hectic lifestyles in the region have led to a rise in digestive issues, further fueling the demand for Digestives & Intestinal Remedies.In conclusion, the Digestives & Intestinal Remedies market in ASEAN is witnessing growth due to changing customer preferences, increasing awareness about digestive health, and favorable macroeconomic factors. The market is characterized by a shift towards natural and herbal remedies, an increasing demand for probiotics, and the availability of OTC products. Local cultural practices and traditional medicine also play a significant role in shaping the market dynamics.

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.