Digestive & Intestinal Remedies (Pharmacies) - Ghana

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$14.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.29%, resulting in a market volume of US$17.25m 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$0.42 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 Ghana is experiencing significant growth due to changing customer preferences and trends in the market. Customer preferences in the Digestive & Intestinal Remedies (Pharmacies) market in Ghana are shifting towards natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are seeking out natural alternatives. This preference for natural remedies is driven by a desire for holistic health and wellness, as well as concerns about potential side effects of traditional pharmaceutical products. Trends in the market reflect this shift towards natural remedies. There has been an increase in the availability of herbal and natural digestive and intestinal remedies in pharmacies across Ghana. These products often contain ingredients such as ginger, peppermint, and aloe vera, which are believed to have digestive health benefits. The demand for these products is also driven by the growing popularity of traditional medicine and practices in Ghana. Local special circumstances in Ghana contribute to the development of the Digestive & Intestinal Remedies (Pharmacies) market. Traditional medicine has a long history in Ghana and is deeply rooted in the culture. Many Ghanaians have grown up using traditional remedies for various ailments, including digestive and intestinal issues. This cultural preference for natural remedies has created a market demand for herbal and traditional products in the country. Additionally, the Ghanaian government has recognized the importance of traditional medicine and has implemented policies to promote its use and development. This has further contributed to the growth of the Digestive & Intestinal Remedies (Pharmacies) market in Ghana. Underlying macroeconomic factors also play a role in the development of the Digestive & Intestinal Remedies (Pharmacies) market in Ghana. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As Ghanaians have more money to spend on healthcare products, they are willing to invest in higher quality and more specialized digestive and intestinal remedies. Additionally, the healthcare sector in Ghana has been expanding, with increased investment in infrastructure and facilities. This has improved the accessibility and availability of healthcare products, including digestive and intestinal remedies, in pharmacies across the country. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in Ghana is developing due to changing customer preferences towards natural remedies, trends in the market, local special circumstances, and underlying macroeconomic factors. As Ghanaians become more conscious of their health and wellness, the demand for herbal and natural digestive and intestinal remedies is expected to continue to grow.

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.