Key regions: Australia, United States, India, Europe, China
The Digestive & Intestinal Remedies (Pharmacies) market in Vietnam has been witnessing significant growth in recent years.
Customer preferences: Vietnamese consumers have become increasingly conscious of their health and well-being, leading to a growing demand for digestive and intestinal remedies. This trend can be attributed to several factors. Firstly, the rising disposable income of the middle-class population has allowed consumers to prioritize their health and invest in preventive healthcare products. Secondly, the increasing awareness about the importance of maintaining a healthy digestive system has led to a greater demand for remedies that address common digestive issues such as indigestion, bloating, and constipation. Lastly, the influence of Western lifestyles and diets has also contributed to the growing demand for digestive and intestinal remedies in Vietnam.
Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Vietnam is the shift towards natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of pharmaceutical drugs and are seeking alternative solutions that are perceived to be safer and more sustainable. This has led to a rise in the popularity of herbal remedies that are derived from natural ingredients and have been traditionally used in Vietnamese medicine. Another trend in the market is the increasing availability and accessibility of digestive and intestinal remedies through pharmacies. Pharmacies play a crucial role in the distribution of these products, providing consumers with easy access to a wide range of remedies and expert advice. The expansion of pharmacy chains and the development of e-commerce platforms have further facilitated the availability of these products, making them more accessible to consumers across the country.
Local special circumstances: Vietnam has a rich tradition of herbal medicine, which has influenced the preferences of Vietnamese consumers. Traditional Vietnamese remedies, such as herbal teas and medicinal herbs, are widely used to treat digestive issues. This cultural preference for natural remedies has shaped the market landscape in Vietnam, with consumers showing a strong preference for natural and herbal digestive and intestinal remedies.
Underlying macroeconomic factors: The growing economy of Vietnam has played a significant role in the development of the Digestive & Intestinal Remedies market. The rising disposable income, coupled with increasing urbanization and changing lifestyles, has created a favorable environment for the growth of the market. Additionally, the government's focus on healthcare and the development of the pharmaceutical industry has also contributed to the growth of the market. In conclusion, the Digestive & Intestinal Remedies market in Vietnam is experiencing significant growth due to the increasing consumer awareness about health and well-being, the shift towards natural and herbal remedies, the accessibility of these products through pharmacies, the cultural preference for traditional remedies, and the underlying macroeconomic factors such as rising disposable income and government support for healthcare.
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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