Market Insights Health OTC Pharmaceuticals

Digestives & Intestinal Remedies - Baltics

Baltics

In the Baltics, the revenue in the Digestives & Intestinal Remedies market market is projected to reach US$50.38m in 2024.
It is anticipated that the market will experience an annual growth rate of 4.88% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, amounting to US$4,408.00m in 2024.
In terms of per person revenues, the Baltics generates US$8.65 in 2024.
The Baltics have seen a rise in demand for natural and herbal digestive remedies in the OTC Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Digestives & Intestinal Remedies market in Baltics has been experiencing steady growth in recent years. Customer preferences in the region have been shifting towards natural and herbal remedies, driving the demand for digestive and intestinal products that are made from organic ingredients. Additionally, there has been an increasing awareness about the importance of gut health and its impact on overall well-being, leading to a greater demand for products that promote digestive health.

Customer preferences: In line with global trends, customers in the Baltics have been showing a preference for natural and herbal remedies when it comes to digestive and intestinal health. This can be attributed to a growing awareness about the potential side effects of synthetic medications and a desire for more holistic approaches to healthcare. As a result, there has been an increased demand for products that are made from organic ingredients and are free from artificial additives.

Trends in the market: One of the key trends in the Digestives & Intestinal Remedies market in the Baltics is the growing popularity of probiotics. Probiotics are live bacteria and yeasts that are beneficial for digestive health. They are believed to improve gut flora and promote better digestion. As customers become more aware of the benefits of probiotics, there has been a surge in demand for products that contain these beneficial bacteria.Another trend in the market is the rise of functional foods and beverages that promote digestive health. These products are formulated with ingredients that are known to have a positive impact on the digestive system, such as fiber, prebiotics, and digestive enzymes. Customers in the Baltics are increasingly seeking out these functional products as they look for ways to improve their digestive health through their diet.

Local special circumstances: The Baltics, comprising of Estonia, Latvia, and Lithuania, have a rich tradition of herbal medicine. This has influenced customer preferences in the region, with many people seeking out natural remedies for various health conditions, including digestive issues. Local companies have capitalized on this demand by developing and marketing herbal digestive remedies that are derived from traditional Baltic herbs.

Underlying macroeconomic factors: The growing Digestives & Intestinal Remedies market in the Baltics can also be attributed to favorable macroeconomic factors. The region has experienced stable economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, people in the Baltics have more purchasing power to spend on healthcare products, including those that promote digestive health.Furthermore, the Baltics have a well-developed healthcare system that places a strong emphasis on preventive care. This has led to a greater awareness about the importance of maintaining good digestive health and has created a conducive environment for the growth of the Digestives & Intestinal Remedies market.In conclusion, the Digestives & Intestinal Remedies market in the Baltics is experiencing growth due to customer preferences for natural and herbal remedies, the popularity of probiotics, and the rise of functional foods and beverages. Local special circumstances, such as the tradition of herbal medicine, also contribute to the market's development. Favorable macroeconomic factors, including stable economic growth and a well-developed healthcare system, further support the growth of the market in the Baltics.

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.