Market Insights Health OTC Pharmaceuticals

Digestives & Intestinal Remedies - Greece

Greece

In Greece, the revenue in the Digestives & Intestinal Remedies market market is projected to reach US$39.75m in 2024.
This market is expected to grow annually by 1.29% (CAGR 2024-2029).
In comparison to other countries, in China generates the highest revenue in this market, amounting to US$4,408.00m in 2024.
When considering the population figures, per person revenues of US$3.86 are generated in Greece in 2024.
In Greece, there is a growing trend towards natural digestive remedies, with consumers seeking herbal and plant-based products for gastrointestinal health.

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

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Analyst Opinion

The Digestives & Intestinal Remedies market in Greece has been experiencing steady growth in recent years.

Customer preferences: Greek consumers have shown a growing interest in natural and herbal remedies for digestive issues. They are increasingly seeking products that are made from natural ingredients and have minimal side effects. This preference for natural remedies is in line with global trends, as consumers become more health-conscious and seek alternatives to traditional pharmaceuticals.

Trends in the market: One of the key trends in the Digestives & Intestinal Remedies market in Greece is the increasing demand for probiotics. Probiotics are live bacteria and yeasts that are beneficial for the digestive system. They help restore the natural balance of bacteria in the gut and aid in digestion. Greek consumers have become more aware of the benefits of probiotics and are incorporating them into their daily routines. This trend is driven by the growing understanding of the importance of gut health and its impact on overall well-being.Another trend in the market is the rising popularity of digestive enzymes. Digestive enzymes are substances that help break down food into smaller molecules, making it easier for the body to absorb nutrients. Greek consumers are turning to digestive enzymes to alleviate symptoms such as bloating, indigestion, and heartburn. This trend is fueled by the increasing prevalence of digestive disorders and the desire for quick and effective relief.

Local special circumstances: Greece has a rich history of herbal medicine and natural remedies. Traditional Greek medicine, known as "iatrochemistry," has been practiced for centuries and emphasizes the use of herbs and natural ingredients for healing. This cultural heritage has influenced Greek consumers' preferences for natural remedies in the Digestives & Intestinal Remedies market. They have a strong belief in the efficacy of herbal remedies and are more inclined to trust products that have a long history of traditional use.

Underlying macroeconomic factors: The Greek economy has been recovering from a prolonged recession, and this has had an impact on consumer behavior. Greek consumers are becoming more price-conscious and are looking for affordable options when it comes to healthcare products. This has led to an increase in the demand for generic and private label Digestives & Intestinal Remedies, which are often priced lower than branded products. The economic recovery has also resulted in increased disposable income, allowing consumers to spend more on healthcare products.In conclusion, the Digestives & Intestinal Remedies market in Greece is developing in response to customer preferences for natural remedies, including probiotics and digestive enzymes. The cultural heritage of herbal medicine in Greece has also influenced consumer preferences. The recovering economy and increased disposable income have contributed to the growth of the market. Overall, the market is expected to continue growing as Greek consumers prioritize their digestive health and seek effective and affordable solutions.

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.