Digestive & Intestinal Remedies (Pharmacies) - Belgium

Belgium

Highlights

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$143.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.99%, resulting in a market volume of US$150.20m 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$12.21 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digestive & Intestinal Remedies (Pharmacies) market in Belgium has been experiencing steady growth in recent years.

Customer preferences: Customers in Belgium have shown a growing preference for digestive and intestinal remedies, as they become more aware of the importance of maintaining a healthy digestive system. This trend is driven by factors such as an aging population, increasing stress levels, and a rise in unhealthy eating habits. Consumers are actively seeking products that can provide relief from common digestive issues such as indigestion, bloating, and heartburn.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Belgium is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious about the ingredients in the products they use and are opting for natural alternatives to traditional pharmaceutical remedies. This trend is also influenced by the growing popularity of holistic health practices and the desire for more sustainable and eco-friendly options. As a result, there has been a rise in the availability and variety of natural digestive and intestinal remedies in pharmacies across Belgium. Another trend in the market is the growing popularity of probiotics. Probiotics are live bacteria and yeasts that are beneficial for digestive health. They are commonly found in yogurt and other fermented foods, but are also available in supplement form. The demand for probiotic products has been increasing as consumers recognize the potential benefits for their digestive system. This trend is supported by scientific research that highlights the role of probiotics in promoting a healthy gut microbiome.

Local special circumstances: Belgium has a well-developed healthcare system and a high level of healthcare expenditure per capita. This provides a favorable environment for the growth of the Digestive & Intestinal Remedies market, as consumers have easy access to pharmacies and a wide range of products. Additionally, the country has a strong tradition of self-medication, with a high percentage of the population regularly purchasing over-the-counter remedies for minor ailments. This cultural preference for self-care contributes to the demand for digestive and intestinal remedies.

Underlying macroeconomic factors: The growth of the Digestive & Intestinal Remedies market in Belgium is also influenced by macroeconomic factors such as population demographics and lifestyle changes. Belgium has an aging population, with a significant proportion of the population over the age of 65. Older adults are more likely to experience digestive issues and are therefore a key target market for digestive and intestinal remedies. Furthermore, the modern lifestyle in Belgium, characterized by high stress levels and a sedentary lifestyle, can contribute to digestive problems. This creates a need for products that can provide relief and support digestive health. In conclusion, the Digestive & Intestinal Remedies market in Belgium is experiencing growth due to changing customer preferences, including a demand for natural and herbal remedies, as well as the increasing popularity of probiotics. The local special circumstances, such as a well-developed healthcare system and a culture of self-medication, also contribute to the market's growth. Additionally, underlying macroeconomic factors such as an aging population and lifestyle changes further drive the demand for digestive and intestinal remedies in Belgium.

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.