Digestive & Intestinal Remedies (Pharmacies) - Singapore

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$136.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.62%, resulting in a market volume of US$163.40m 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$22.59 are generated in 2024.

Definition:
The Digestives and Intestinal Remedies market encompasses a range of over-the-counter (OTC) natural and synthetic digestive agents and remedies designed to address gastrointestinal concerns. These products are available through pharmacies and are provided in various forms such as pills, powder, capsules, liquids, solutions, suspensions, drops, and suppositories. The market excludes prescription medications, substances contravening state regulations, or items not explicitly categorized as digestive medications (e.g., pain relievers). Notable among the best-selling products in this category are Perenterol, Iberogast, Dulcolax, and Buscopan Plus. This market exclusively covers product sales through pharmacies.

Additional information:
The Digestives and Intestinal Remedies market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
Digestive medicines
Remedies against gastrointestinal complaints

Prescription medicines
Homeopathic remedies
Tea

The Digestive & Intestinal Remedies (Pharmacies) market in Singapore is experiencing steady growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Singapore are increasingly seeking natural and herbal remedies for digestive and intestinal issues. This preference for natural products is driven by a growing awareness of the potential side effects of pharmaceutical drugs and a desire for more holistic approaches to healthcare. As a result, there is a rising demand for digestive and intestinal remedies that are made from natural ingredients and have fewer chemical additives.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Singapore is the increasing popularity of probiotics. Probiotics are live bacteria and yeasts that are beneficial for gut health. They help to restore the natural balance of bacteria in the digestive system and can alleviate digestive issues such as bloating, constipation, and diarrhea. The demand for probiotic products has been driven by growing consumer awareness of the importance of gut health and the role of probiotics in maintaining a healthy digestive system. Another trend in the market is the rising demand for over-the-counter digestive and intestinal remedies. Customers in Singapore are increasingly turning to pharmacies to purchase these products, as they provide convenience and accessibility. Pharmacies offer a wide range of digestive and intestinal remedies, allowing customers to easily find the product that best suits their needs. This trend is further supported by the fact that many digestive and intestinal remedies do not require a prescription, making them easily accessible to consumers.

Local special circumstances: Singapore has a high prevalence of digestive and intestinal issues, which has contributed to the growth of the market. Factors such as a stressful lifestyle, unhealthy eating habits, and a lack of physical activity can all contribute to digestive problems. As a result, there is a significant demand for remedies that can alleviate these issues and improve overall digestive health.

Underlying macroeconomic factors: Singapore's strong economy and high disposable income levels have also contributed to the growth of the Digestive & Intestinal Remedies market. With a higher purchasing power, consumers are more willing to invest in their health and seek out remedies for their digestive and intestinal issues. Additionally, Singapore's aging population has also played a role in driving demand for these products, as older individuals are more prone to digestive problems and are actively seeking solutions. In conclusion, the Digestive & Intestinal Remedies market in Singapore is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing preference for natural remedies, the popularity of probiotics, the demand for over-the-counter products, the high prevalence of digestive issues, and Singapore's strong economy and aging population are all contributing to the growth of the market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.