Digestives & Intestinal Remedies - Thailand

Thailand

Highlights

In Thailand, the Digestives & Intestinal Remedies market market generates a revenue of US$119.20m in 2024.
It is projected to experience an annual growth rate of 4.52% (CAGR 2024-2029).
When compared to other countries around Worldwide, China leads the market with a revenue of US$4.41bn in 2024.
In terms of per capita figures, each person in Thailand generates a revenue of US$1.66 in 2024.
Thailand's OTC Pharmaceuticals market for Digestives & Intestinal Remedies is witnessing a surge in demand due to the country's spicy cuisine and high prevalence of digestive disorders.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digestives & Intestinal Remedies market in Thailand is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Thailand are increasingly seeking digestive and intestinal remedies to address common gastrointestinal issues such as indigestion, bloating, and constipation. This growing demand is driven by a number of factors, including changing dietary patterns, increased stress levels, and a greater awareness of the importance of gut health.

Trends in the market: One of the key trends in the Digestives & Intestinal Remedies market in Thailand is the rising popularity of natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of pharmaceutical products and are opting for natural alternatives. This has led to an increase in the availability and variety of herbal digestive supplements and remedies in the market. Additionally, there is a growing trend of combining traditional herbal ingredients with modern scientific formulations to provide effective and safe solutions for digestive issues.Another trend in the market is the increasing availability of over-the-counter (OTC) digestive remedies. Previously, many digestive remedies required a prescription from a healthcare professional. However, the regulatory landscape has changed, allowing certain digestive remedies to be sold without a prescription. This has made these products more accessible to consumers, leading to increased sales and market growth.

Local special circumstances: Thailand has a rich tradition of herbal medicine, and this has influenced the local market for digestive and intestinal remedies. Thai consumers have a strong preference for herbal and traditional remedies, which has led to the development of a wide range of locally-produced herbal digestive products. These products often incorporate traditional Thai herbs and ingredients known for their digestive benefits. This local preference for herbal remedies has also attracted international companies to enter the Thai market and offer their own herbal digestive products.

Underlying macroeconomic factors: Thailand's growing middle class and increasing disposable income levels have contributed to the growth of the Digestives & Intestinal Remedies market. As people have more money to spend on healthcare and wellness products, they are willing to invest in digestive remedies to improve their overall well-being. Additionally, the aging population in Thailand is also driving the demand for digestive remedies, as older individuals are more prone to digestive issues and seek solutions to improve their digestive health.In conclusion, the Digestives & Intestinal Remedies market in Thailand is experiencing growth and development due to changing customer preferences, including a preference for natural and herbal remedies, the increasing availability of OTC products, and the influence of local traditions and preferences. These trends are supported by underlying macroeconomic factors such as a growing middle class and an aging population. As the market continues to evolve, there will likely be further innovation and expansion in the range of digestive remedies available to consumers in Thailand.

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.