Market Insights Health Pharmacies OTC Products

Digestive & Intestinal Remedies (Pharmacies) - Bhutan

Bhutan

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$352.20k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.53%, resulting in a market volume of US$461.00k by 2029.
In global comparison, most revenue will be generated in China (US$3,367.00m in 2024).
In relation to total population figures, per person revenues of US$0.44 are generated in 2024.

Key regions: Australia, United States, India, Europe, China

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Analyst Opinion

The Digestive & Intestinal Remedies (Pharmacies) market in Bhutan is experiencing steady growth due to various factors.

Customer preferences: Customers in Bhutan are increasingly seeking digestive and intestinal remedies to address common digestive issues such as indigestion, bloating, and constipation. This can be attributed to the changing dietary patterns and lifestyle choices of the population, including the consumption of processed foods and sedentary lifestyles. As a result, there is a growing demand for over-the-counter digestive and intestinal remedies in pharmacies.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies (Pharmacies) market in Bhutan is the increasing popularity of natural and herbal remedies. Customers are becoming more conscious of the ingredients and potential side effects of pharmaceutical products, leading them to opt for natural alternatives. This trend is driven by the belief that natural remedies are gentler on the body and provide long-term benefits. As a result, pharmacies are expanding their product offerings to include a wide range of natural and herbal digestive and intestinal remedies.

Local special circumstances: Bhutan is known for its traditional medicine system, which has been practiced for centuries. This traditional medicine system incorporates natural remedies derived from herbs and minerals. The popularity of traditional medicine in Bhutan has influenced customer preferences in the Digestive & Intestinal Remedies (Pharmacies) market. Customers often seek traditional remedies alongside modern pharmaceutical products, creating a unique market dynamic in Bhutan.

Underlying macroeconomic factors: Bhutan has been experiencing economic growth in recent years, leading to an increase in disposable income and healthcare expenditure. As a result, customers are more willing to spend on healthcare products, including digestive and intestinal remedies. This economic growth has also led to improved access to healthcare facilities and pharmacies, further driving the demand for digestive and intestinal remedies. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in Bhutan is developing due to changing customer preferences, the popularity of natural and herbal remedies, the influence of traditional medicine, and underlying macroeconomic factors such as economic growth and increased healthcare expenditure.

Methodology

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.