Digestives & Intestinal Remedies - Taiwan

In Taiwan, the revenue generated in the Digestives & Intestinal Remedies market market in 2024 amounts to US$279.90m.
It is projected that the market will experience an annual growth rate of 3.94% (CAGR 2024-2029).
In comparison to other countries, China leads the global market with a revenue of US$4.41bn in 2024.
When considering the total population, the per person revenue in Taiwan is US$11.68 in 2024.
Taiwan is experiencing a growing demand for natural and herbal-based digestive and intestinal remedies in the OTC Pharmaceuticals market.

Definition:
The Digestives and Intestinal Remedies market comprises over-the-counter natural and synthetic digestive agents and remedies against gastrointestinal complaints. Digestives include preparations in the form of pills, powder, capsules, liquids, solutions, suspensions, drops and suppositories. Not included are prescription medicines, preparations that are against the state law or are not explicit digestive drugs (e.g. painkillers). Among the top-selling digestives are Perenterol, Iberogast, Dulcolax and Buscopan Plus. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Additional information:
The Digestives and Intestinal Remedies market comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
Digestive medicines
Remedies against gastrointestinal complaints

Prescription medicines
Homeopathic remedies
Tea

The Digestives & Intestinal Remedies market in Taiwan is experiencing steady growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in Taiwan are shifting towards a more health-conscious lifestyle, leading to an increased demand for digestive and intestinal remedies. As people become more aware of the importance of gut health, they are seeking products that can alleviate digestive issues and promote overall well-being. This trend is not unique to Taiwan, as it is also observed in other countries worldwide.Trends in the market indicate a growing interest in natural and herbal remedies for digestive problems. Consumers are increasingly opting for products that are made from natural ingredients and have minimal side effects. This has led to the rise of herbal supplements and probiotics in the Digestives & Intestinal Remedies market in Taiwan. Manufacturers are responding to this trend by introducing new products that cater to these preferences.Local special circumstances in Taiwan also contribute to the development of the Digestives & Intestinal Remedies market. The Taiwanese population has a high prevalence of digestive disorders, such as irritable bowel syndrome and acid reflux. This creates a significant market opportunity for companies offering products that can alleviate these conditions. Additionally, the aging population in Taiwan is more prone to digestive issues, further driving the demand for digestive and intestinal remedies.Underlying macroeconomic factors also play a role in the growth of the Digestives & Intestinal Remedies market in Taiwan. The country has a strong healthcare system and a high level of disposable income, allowing consumers to afford and access these products. Furthermore, the government in Taiwan has been actively promoting health and wellness, leading to increased awareness and demand for digestive and intestinal remedies.In conclusion, the Digestives & Intestinal Remedies market in Taiwan is experiencing growth driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more health-conscious and seek natural remedies, the market is responding with innovative products. The high prevalence of digestive disorders and the aging population in Taiwan further contribute to the market's growth. With a strong healthcare system and government support for health and wellness, the Digestives & Intestinal Remedies market in Taiwan is expected to continue its upward trajectory.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.