Market Insights Health Pharmacies OTC Products

Digestive & Intestinal Remedies (Pharmacies) - Eastern Asia

Eastern Asia

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$4.56bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.57%, resulting in a market volume of US$4.93bn 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$2.79 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Digestive & Intestinal Remedies (Pharmacies) market in Eastern Asia is experiencing significant growth and development. Customer preferences in the region are shifting towards natural and herbal remedies for digestive and intestinal issues. Consumers are becoming more conscious of the potential side effects of traditional medications and are seeking alternative solutions. This trend is driven by the growing popularity of traditional Chinese medicine, which emphasizes the use of natural ingredients to promote overall health and well-being. Additionally, there is a rising demand for probiotic products, as consumers become more aware of the importance of gut health in maintaining a healthy digestive system. In terms of market trends, there is a growing focus on product innovation and differentiation. Manufacturers are introducing new formulations and delivery formats to cater to the diverse needs and preferences of consumers. For example, there has been an increase in the availability of chewable tablets, effervescent powders, and liquid remedies in the market. These products offer convenience and ease of consumption, which are highly valued by busy urban consumers in the region. Local special circumstances also play a role in the development of the Digestive & Intestinal Remedies market in Eastern Asia. In countries like China, where there is a strong cultural belief in the power of traditional medicine, there is a high demand for herbal remedies and traditional Chinese medicine formulations. This has created a unique market landscape where both traditional and modern remedies coexist. Underlying macroeconomic factors are also contributing to the growth of the market. Rising disposable incomes and increasing healthcare expenditure in the region are enabling consumers to spend more on self-care and preventive healthcare products. Additionally, the aging population in many Eastern Asian countries is driving the demand for digestive and intestinal remedies, as older individuals are more prone to digestive issues. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in Eastern Asia is experiencing growth and development due to shifting customer preferences towards natural and herbal remedies, a focus on product innovation, local special circumstances such as the popularity of traditional Chinese medicine, and underlying macroeconomic factors such as rising disposable incomes and an aging population.

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.