Digestives & Intestinal Remedies - Philippines

Philippines

Highlights

In the Philippines, the revenue generated in the Digestives & Intestinal Remedies market market is projected to reach US$221.30m in 2024.
It is predicted that this market will experience an annual growth rate of 6.67% (CAGR 2024-2029).
When comparing global figures, it is worth noting that China generates the highest revenue in this market, amounting to US$4.41bn in 2024.
In terms of per capita revenue, each person in the Philippines contributes approximately US$1.86 in 2024.
The demand for digestive and intestinal remedies is on the rise in the Philippines due to the increasing consumption of spicy and oily foods.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digestives & Intestinal Remedies market in Philippines is experiencing steady growth due to changing customer preferences and increasing demand for digestive health products.

Customer preferences: Customers in Philippines are becoming more health-conscious and are increasingly seeking products that promote digestive health. This shift in preferences can be attributed to several factors, including rising awareness about the importance of maintaining a healthy gut, increasing prevalence of digestive disorders, and a growing interest in natural and herbal remedies. As a result, there is a growing demand for digestive health products such as probiotics, fiber supplements, and herbal remedies.

Trends in the market: One of the key trends in the Digestives & Intestinal Remedies market in Philippines is the growing popularity of probiotics. Probiotics are live bacteria and yeasts that are beneficial for digestive health. They help restore the natural balance of bacteria in the gut and promote healthy digestion. The demand for probiotics is driven by their ability to improve digestion, boost immune function, and alleviate symptoms of digestive disorders such as bloating, gas, and constipation. As a result, many consumers are incorporating probiotics into their daily routine through supplements or fortified foods and beverages.Another trend in the market is the increasing demand for herbal remedies. Traditional herbal medicines have a long history of use in Philippines and are believed to have various health benefits, including improving digestion. Many consumers are turning to herbal remedies as a natural and holistic approach to digestive health. Popular herbal ingredients include ginger, peppermint, fennel, and chamomile, which are known for their soothing and digestive properties. The demand for herbal remedies is also fueled by the growing preference for natural and organic products.

Local special circumstances: The Digestives & Intestinal Remedies market in Philippines is influenced by the local cultural practices and traditional medicine systems. Traditional Filipino medicine, known as "Hilot," has a strong emphasis on natural remedies and holistic healing. This cultural heritage contributes to the popularity of herbal remedies and the preference for natural and traditional approaches to digestive health. Additionally, the availability of a wide range of tropical fruits and herbs in Philippines also contributes to the popularity of natural remedies and the use of local ingredients in digestive health products.

Underlying macroeconomic factors: The growing Digestives & Intestinal Remedies market in Philippines can be attributed to several underlying macroeconomic factors. Firstly, the country's growing middle class and rising disposable incomes have led to an increase in consumer spending on healthcare and wellness products. As people become more affluent, they are willing to invest in products that improve their overall health and well-being, including digestive health.Secondly, the increasing prevalence of digestive disorders in Philippines is driving the demand for digestive health products. Factors such as changing dietary habits, sedentary lifestyles, and high-stress levels contribute to the rising incidence of digestive disorders such as irritable bowel syndrome (IBS), acid reflux, and indigestion. This has created a significant market opportunity for Digestives & Intestinal Remedies manufacturers and suppliers.Overall, the Digestives & Intestinal Remedies market in Philippines is witnessing growth due to changing customer preferences, increasing demand for digestive health products, local cultural practices, and underlying macroeconomic factors. The market is expected to continue expanding as consumers prioritize their digestive health and seek natural and effective remedies to maintain a healthy gut.

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.