Digestive & Intestinal Remedies (Pharmacies) - Bangladesh

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$134.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.69%, resulting in a market volume of US$233.50m by 2029.
In global comparison, most revenue will be generated China (US$3.37bn in 2024).
In relation to total population figures, per person revenues of US$0.77 are generated in 2024.

Definition:
The Digestives and Intestinal Remedies market encompasses a range of over-the-counter (OTC) natural and synthetic digestive agents and remedies designed to address gastrointestinal concerns. These products are available through pharmacies and are provided in various forms such as pills, powder, capsules, liquids, solutions, suspensions, drops, and suppositories. The market excludes prescription medications, substances contravening state regulations, or items not explicitly categorized as digestive medications (e.g., pain relievers). Notable among the best-selling products in this category are Perenterol, Iberogast, Dulcolax, and Buscopan Plus. This market exclusively covers product sales through pharmacies.

Additional information:
The Digestives and Intestinal Remedies market comprises revenues, average revenue per capita and average revenue per pharmacy. 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 Digestive & Intestinal Remedies (Pharmacies) market in Bangladesh is experiencing significant growth due to changing customer preferences and trends in the market.

Customer preferences: Customers in Bangladesh are increasingly seeking remedies for digestive and intestinal issues. This can be attributed to a variety of factors such as changing dietary habits, increased stress levels, and a growing awareness of digestive health. As a result, there is a high demand for over-the-counter remedies in pharmacies that can provide quick relief from common digestive problems.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Bangladesh is the growing popularity of natural and herbal remedies. Customers are becoming more conscious about the ingredients and potential side effects of traditional pharmaceutical products. They are now opting for natural remedies that are perceived to be safer and have fewer side effects. This trend is driving the demand for herbal digestive and intestinal remedies in pharmacies. Another trend in the market is the increasing availability of a wide range of products in pharmacies. Pharmacies in Bangladesh are expanding their product offerings to cater to the growing demand for digestive and intestinal remedies. Customers now have access to a variety of options, including antacids, laxatives, and probiotics, among others. This increased product availability is driving the growth of the market.

Local special circumstances: Bangladesh has a large population with a high prevalence of digestive and intestinal issues. Factors such as unhealthy eating habits, lack of physical activity, and high-stress levels contribute to the high incidence of these problems. As a result, there is a strong demand for remedies in the market. Additionally, the country has a well-established healthcare system, with pharmacies being a key distribution channel for healthcare products. This makes pharmacies an ideal place for customers to purchase digestive and intestinal remedies.

Underlying macroeconomic factors: The growing middle class in Bangladesh is driving the growth of the Digestive & Intestinal Remedies market. With increasing disposable incomes, customers have more purchasing power and are willing to spend on healthcare products. This has led to a rise in demand for digestive and intestinal remedies in the country. Furthermore, the government of Bangladesh has been actively promoting healthcare and wellness initiatives. This includes campaigns to raise awareness about the importance of digestive health and the availability of remedies in pharmacies. These initiatives have contributed to the growth of the market by increasing customer knowledge and encouraging them to seek remedies for their digestive and intestinal issues. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in Bangladesh is experiencing growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for natural and herbal remedies, the availability of a wide range of products in pharmacies, the high prevalence of digestive and intestinal issues in the country, and the growing middle class with increased purchasing power are all driving the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.

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

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.