Market Insights Health Pharmacies OTC Products

Digestive & Intestinal Remedies (Pharmacies) - Laos

Laos

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$2.75m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.59%, resulting in a market volume of US$3.61m 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$0.36 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 Laos is experiencing steady growth and development.

Customer preferences: Customers in Laos are increasingly seeking out digestive and intestinal remedies from pharmacies. This can be attributed to a growing awareness of digestive health and a desire to maintain overall well-being. Additionally, the convenience of purchasing these remedies from pharmacies, which are easily accessible throughout the country, is a major factor driving customer preferences.

Trends in the market: One notable trend in the Digestive & Intestinal Remedies market in Laos is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are opting for natural alternatives. This trend is in line with the global shift towards natural and organic products. As a result, pharmacies in Laos are stocking a wider range of natural digestive and intestinal remedies to cater to this growing demand. Another trend in the market is the rising popularity of probiotics. Probiotics are live bacteria and yeasts that are beneficial for digestive health. They help maintain a healthy balance of bacteria in the gut, which can improve digestion and overall well-being. Customers in Laos are increasingly aware of the benefits of probiotics and are seeking out products that contain these beneficial microorganisms. Pharmacies are responding to this trend by stocking a variety of probiotic supplements and foods.

Local special circumstances: Laos is a landlocked country in Southeast Asia with a predominantly rural population. The country's healthcare infrastructure is still developing, and access to healthcare services can be limited in some areas. As a result, pharmacies play a crucial role in providing essential healthcare products, including digestive and intestinal remedies, to the population. The convenience and accessibility of pharmacies make them a preferred choice for customers seeking these remedies.

Underlying macroeconomic factors: Laos has been experiencing steady economic growth in recent years, which has contributed to the development of the Digestive & Intestinal Remedies market. As the economy grows, people have more disposable income to spend on healthcare products and are willing to invest in their well-being. This has led to an increase in the demand for digestive and intestinal remedies, as customers prioritize their health and seek out products that can improve their overall quality of life. In conclusion, the Digestive & Intestinal Remedies market in Laos is growing and evolving to meet the changing preferences of customers. The demand for natural and herbal remedies, as well as probiotics, is on the rise. Pharmacies play a vital role in providing these products to the population, particularly in areas where access to healthcare services is limited. The overall economic growth in Laos has also contributed to the development of the market, as people have more disposable income to spend on healthcare products.

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.