Market Insights Health Pharmacies OTC Products

Digestive & Intestinal Remedies (Pharmacies) - Lebanon

Lebanon

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$14.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.75%, resulting in a market volume of US$14.53m by 2028.
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$2.70 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 Lebanon has been experiencing steady growth in recent years.

Customer preferences: Customers in Lebanon have shown a growing preference for Digestive & Intestinal Remedies purchased from pharmacies. This can be attributed to the trust and convenience associated with purchasing these products from a trusted healthcare professional. Pharmacies provide a wide range of options, including both over-the-counter and prescription medications, allowing customers to find the most suitable remedy for their specific needs. Additionally, the availability of knowledgeable pharmacists who can provide guidance and recommendations further enhances the appeal of purchasing these products from pharmacies.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Lebanon is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients used in the products they consume and are seeking alternatives to traditional pharmaceutical options. This trend is driven by a growing awareness of the potential side effects associated with certain medications, as well as a desire for more holistic and natural approaches to healthcare. As a result, pharmacies in Lebanon are expanding their offerings to include a wider range of natural and herbal Digestive & Intestinal Remedies to cater to this demand.

Local special circumstances: Lebanon has a rich culinary tradition, with a wide variety of flavorful and often spicy dishes. While this is a source of pride for the Lebanese people, it can also lead to digestive issues for some individuals. As a result, there is a high demand for Digestive & Intestinal Remedies in the country. This local special circumstance contributes to the growth of the market, as customers seek effective remedies to alleviate symptoms such as indigestion, heartburn, and bloating.

Underlying macroeconomic factors: Lebanon has a relatively high prevalence of gastrointestinal disorders, which contributes to the demand for Digestive & Intestinal Remedies. Factors such as stress, poor dietary habits, and lifestyle choices can all contribute to the development of these disorders. Additionally, the country's aging population is also a driving force behind the market growth, as older individuals are more likely to experience digestive issues and seek remedies to manage their symptoms. The increasing disposable income and improving healthcare infrastructure in Lebanon also play a role in driving the growth of the Digestive & Intestinal Remedies market, as individuals have greater access to healthcare services and can afford to purchase these 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.