Digestive & Intestinal Remedies (Pharmacies) - Guatemala

Guatemala

Highlights

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$35.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.98%, resulting in a market volume of US$46.97m 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$1.91 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digestive & Intestinal Remedies (Pharmacies) market in Guatemala is experiencing significant growth and development.

Customer preferences: Customers in Guatemala have shown a growing demand for digestive and intestinal remedies. This can be attributed to several factors, including an increase in unhealthy eating habits and sedentary lifestyles. As Guatemalans are consuming more processed foods and spending less time on physical activities, they are more prone to digestive and intestinal issues. This has led to a higher demand for remedies that can alleviate symptoms such as indigestion, bloating, and constipation.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Guatemala is the rising popularity of natural and herbal remedies. Customers are increasingly seeking natural alternatives to traditional pharmaceutical products, as they perceive them to be safer and have fewer side effects. This trend is driven by a growing awareness of the potential risks associated with long-term use of certain pharmaceutical drugs. As a result, there has been a surge in the demand for herbal teas, probiotics, and dietary supplements that promote digestive health. Another trend in the market is the increasing availability and accessibility of digestive and intestinal remedies. Pharmacies in Guatemala are expanding their product offerings in response to the growing demand. Customers can now find a wide range of remedies, including over-the-counter medications, herbal supplements, and specialized products for specific digestive issues. This has made it easier for customers to find the right remedy for their needs and has contributed to the overall growth of the market.

Local special circumstances: Guatemala has a high prevalence of gastrointestinal diseases and disorders. This is partly due to the country's limited access to clean water and sanitation facilities, which increases the risk of infections and other digestive issues. Additionally, Guatemala has a high poverty rate, which means that many people cannot afford to seek medical treatment for their digestive problems. As a result, they turn to over-the-counter remedies available at pharmacies to alleviate their symptoms. This has created a strong demand for affordable and accessible digestive and intestinal remedies.

Underlying macroeconomic factors: The growth of the Digestive & Intestinal Remedies market in Guatemala is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income among the population. As people have more money to spend, they are more willing to invest in their health and purchase remedies to alleviate their digestive issues. Additionally, the government has implemented healthcare reforms that have improved access to healthcare services, including pharmacies. This has further contributed to the growth of the market as more people have access to remedies for their digestive problems. In conclusion, the Digestive & Intestinal Remedies market in Guatemala is developing due to customer preferences for natural remedies, the increasing availability of products, the high prevalence of gastrointestinal issues, and underlying macroeconomic factors such as economic growth and improved access to healthcare services. As the market continues to grow, it is important for companies to understand and cater to the specific needs and preferences of Guatemalan customers.

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.