Key regions: Australia, United States, India, Europe, China
The Digestive & Intestinal Remedies (Pharmacies) market in Latvia is experiencing steady growth due to changing customer preferences, market trends, and local special circumstances. Customer preferences in the Digestive & Intestinal Remedies market in Latvia are shifting towards natural and herbal remedies. Consumers are becoming more health-conscious and are seeking products that are perceived as safer and more gentle on the body. This preference for natural remedies is driven by a desire to avoid the potential side effects of traditional pharmaceuticals. As a result, there is an increasing demand for digestive and intestinal remedies that are made from natural ingredients and are free from artificial additives. Trends in the market also contribute to the growth of the Digestive & Intestinal Remedies market in Latvia. One of the key trends is the rising prevalence of digestive disorders and gastrointestinal issues among the population. This can be attributed to factors such as unhealthy diets, stress, and sedentary lifestyles. As a result, there is a growing need for remedies that can alleviate symptoms such as indigestion, bloating, and heartburn. Additionally, there is a growing awareness of the importance of gut health and the role it plays in overall well-being, which is driving the demand for products that support digestive health. Local special circumstances in Latvia also play a role in the development of the Digestive & Intestinal Remedies market. The country has a high prevalence of gastrointestinal disorders, which creates a significant market opportunity for remedies that address these issues. Additionally, the healthcare system in Latvia is focused on preventative care and self-medication, which further drives the demand for over-the-counter remedies that can be purchased at pharmacies without a prescription. This accessibility and convenience factor contributes to the growth of the market. Underlying macroeconomic factors also contribute to the growth of the Digestive & Intestinal Remedies market in Latvia. The country has experienced economic growth in recent years, which has led to increased disposable income and higher healthcare spending. This allows consumers to afford and prioritize their health and well-being, including purchasing digestive and intestinal remedies. Furthermore, the aging population in Latvia is also driving the demand for these products, as older individuals are more likely to experience digestive issues and seek remedies to alleviate their symptoms. In conclusion, the Digestive & Intestinal Remedies market in Latvia is developing due to changing customer preferences towards natural remedies, market trends related to digestive health, local special circumstances such as high prevalence of gastrointestinal disorders and a focus on self-medication, and underlying macroeconomic factors such as economic growth and an aging population.
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.
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