Market Insights Health Pharmacies OTC Products

Digestive & Intestinal Remedies (Pharmacies) - Norway

Norway

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$16.63m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.01%, resulting in a market volume of US$16.62m 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$3.02 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 Norway has been experiencing steady growth in recent years.

Customer preferences: Norwegian consumers have shown a growing interest in natural and herbal remedies for digestive and intestinal issues. This preference for natural products can be attributed to a general trend towards healthier lifestyles and a desire to avoid synthetic chemicals. As a result, there has been an increase in demand for products that are made from natural ingredients and have minimal side effects.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Norway is the rise of probiotic products. Probiotics are live bacteria and yeasts that are beneficial for gut health. They are believed to improve digestion and boost the immune system. Probiotic supplements and yogurts have gained popularity among Norwegian consumers who are looking for natural ways to improve their digestive health. Another trend in the market is the increasing availability of over-the-counter (OTC) remedies for digestive and intestinal issues. Previously, many of these products required a prescription, but now they are readily available in pharmacies without the need for a doctor's visit. This has made it easier for consumers to access the remedies they need and has contributed to the growth of the market.

Local special circumstances: Norway has a high prevalence of digestive and intestinal issues, which has contributed to the growth of the market. Factors such as a high-fat diet, stress, and sedentary lifestyles have led to an increase in conditions such as indigestion, constipation, and irritable bowel syndrome. As a result, there is a strong demand for remedies that can alleviate these symptoms and improve overall digestive health.

Underlying macroeconomic factors: The growing market for Digestive & Intestinal Remedies in Norway can also be attributed to the country's strong economy and high disposable income levels. Norwegians are willing to spend more on their health and are increasingly seeking out products that can improve their quality of life. This has created a favorable environment for the growth of the market. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in Norway is experiencing steady growth due to customer preferences for natural remedies, the rise of probiotic products, the increasing availability of OTC remedies, the high prevalence of digestive and intestinal issues, and the country's strong economy and high disposable income levels.

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.