DUBLIN, April 26, 2023 /PRNewswire/ — The “Global Digestive Remedies Market: Analysis By Type, By Formulation, By Distribution Channel, By End User, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global digestive remedies market in 2022 stood at US$18.71 billion, and is likely to reach US$23.53 billion by 2028.
Digestive remedies are treatments or medicines that try to relieve pain or symptoms caused by digestive disorders. These remedies might include over-the-counter drugs, herbal supplements, or dietary adjustments that help the gastrointestinal tract work more effectively. They are frequently used to treat common digestive issues such as heartburn, indigestion, bloating, constipation, and diarrhea.
The increase in sedentary lifestyles and unhealthy dietary habits is contributing to the growing demand for digestive remedies in recent years. This shift has resulted in a higher incidence of digestive disorders, causing people to seek relief and improve their overall digestive health.
The growing stress levels in modern life, insufficient physical activity/obesity and natural digestive remedies have also contributed to fuel the demand for digestive remedies. Moreover, a shift towards functional foods/probiotics and the growth of the VMS category would impact digestive remedies industry. The global digestive remedies market is projected to grow at a CAGR of 3.82% during the forecast period of 2023-2028.
Global Digestive Remedies Market Dynamics:
- Growth Drivers: The increasing prevalence of gastrointestinal disorders like IBS, GERD, and IBD has driven the demand for effective digestive remedies. This has led to significant investments in R&D, exploring novel therapeutic targets and personalized treatment approaches. Therefore, the global digestive remedies market has grown in recent years as newer therapies and improved management strategies emerge for these gastrointestinal conditions. Further, the market is expected to grow owing to rapid urbanization, growth of e-commerce, aging population, rising disposable income, increased consumer focus on health, etc. in recent years.
- Challenges: Counterfeit digestive remedies endanger public health and hamper market growth by undermining consumer trust and causing financial losses for genuine manufacturers. Companies are investing in anti-counterfeiting measures and collaborating with governments and regulatory bodies to combat this issue. Addressing the counterfeit product challenge is crucial for the overall development of the global digestive remedies market. Additionally, other factors like regulatory hurdles, etc. are other challenges to the market.
- Market Trends: The growing adoption of personalized medicines, which tailor treatments to an individual’s genetic make-up, gut flora, and lifestyle, will likely to benefit the global digestive remedies market. This approach fuels innovation and demand by providing more effective, targeted therapies, ultimately improving patient outcomes and driving market growth in the coming years. More trends in the market are believed to grow the digestive remedies market during the forecasted period, which may include increasing penetration of Artificial Intelligence and Machine Learning, escalation of Internet of Things (IOT), increase in demand for probiotics, increase in telemedicine and digital health platforms, increasing demand for functional foods and nutraceuticals, etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has had both positive and negative impacts on the global digestive remedies market, with growth in some areas and challenges in others.
The pandemic has driven digital transformation and underscored the importance of supply chain resilience. The post-COVID impact on the digestive remedies market is expected to result in increased sustained health focus, e-commerce growth, supply chain resilience, product innovation, and increased telemedicine adoption.
Competitive Landscape and Recent Developments:
The global digestive remedies market is competitive and fragmented, consisting of numerous players, including established pharmaceutical and nutraceuticals corporations and smaller businesses. This diverse landscape leads to a dynamic market environment that addresses the growing demand for digestive health solutions.
Companies focus on R&D to create innovative therapies, invest in modern production technology, and employ novel marketing techniques emphasizing customer awareness and education. Strategic partnerships, mergers, and acquisitions are common as firms seek to expand their product offerings and market presence.
Further, key players in the digestive remedies market are:
- Bayer AG
- Sanofi S.A.
- Pfizer Inc.
- Abbott Laboratories
- Procter & Gamble Co.
- Reckitt Benckiser Group PLC.
- Johnson & Johnson
- Nestle S.A.
- Haleon PLC
- Sun Pharmaceutical Industries Ltd.
- Perrigo Company PLC
- Menarini Group
The digestive remedies market is highly competitive, with numerous players vying for a sizeable market share. To gain an edge, companies employ strategies like product innovation, marketing efforts, mergers and acquisitions, and partnerships. Innovations include new formulations, flavors, and delivery systems to cater to consumer preferences.
Manufacturers expand their product portfolios to target various digestive issues or age groups, capturing a larger market share. Marketing strategies involve online and offline advertising, social media campaigns, and influencer partnerships to attract consumers. Mergers and acquisitions, such as GSK’s spinoff of its consumer healthcare business, Haleon, in 2022, and its joint venture with Pfizer in 2019, showcase companies expanding product offerings or refocusing on profitable therapeutic areas.
Partnerships and collaborations with research institutions and academic centers enable access to new research, technologies, and expertise, fostering innovative product development. The competitive nature of the digestive remedies market propels companies to continually adapt and evolve their strategies, ultimately benefiting consumers with a greater variety of products and ongoing improvements in quality and effectiveness.
Key Topics Covered:
1. Executive Summary
2.1 Digestive Remedies: An Overview
2.1.1 Definition of Digestive Remedies
2.1.2 Benefits of Digestive Remedies
2.2 Digestive Remedies Segmentation: An Overview
2.2.1 Digestive Remedies Segmentation
3. Global Market Analysis
3.1 Global Digestive Remedies Market: An Analysis
3.1.1 Global Digestive Remedies Market: An Overview
3.1.2 Global Digestive Remedies Market by Value
3.1.3 Global Digestive Remedies Market by Type (Antacids, Laxatives, Diarrheal Remedies, Proton Pump Inhibitors (PPIs), Digestive Enzymes, Motion Sickness, and Others)
3.1.4 Global Digestive Remedies Market by Formulation (Capsules, Tablets, Powder, and Others)
3.1.5 Global Digestive Remedies Market by Distribution Channel (Pharmacies & Drugstores, Online Providers, and Others)
3.1.6 Global Digestive Remedies Market by End User (Paediatrics, and Adults)
3.1.7 Global Digestive Remedies Market by Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)
3.2 Global Digestive Remedies Market: Type Analysis
3.2.1 Global Digestive Remedies Market by Type: An Overview
3.2.2 Global Antacids Market by Value
3.2.3 Global Laxatives Market by Value
3.2.4 Global Diarrheal Remedies Market by Value
3.2.5 Global Proton Pump Inhibitors (PPIs) Market by Value
3.2.6 Global Digestive Enzymes Remedies Market by Value
3.2.7 Global Motion Sickness Remedies Market by Value
3.2.8 Global Others Digestive Remedies Market by Value
3.3 Global Digestive Remedies Market: Formulation Analysis
3.3.1 Global Digestive Remedies Market by Formulation: An Overview
3.3.2 Global Capsules Digestive Remedies Market by Value
3.3.3 Global Tablets Digestive Remedies Market by Value
3.3.4 Global Powder Digestive Remedies Market by Value
3.3.5 Global Others Digestive Remedies Market by Value
3.4 Global Digestive Remedies Market: Distribution Channel Analysis
3.4.1 Global Digestive Remedies Market by Distribution Channel: An Overview
3.4.2 Global Pharmacies & Drug Stores Digestive Remedies Market by Value
3.4.3 Global Online Providers Digestive Remedies Market by Value
3.4.4 Global Others Digestive Remedies Market by Value
3.5 Global Digestive Remedies Market: End User Analysis
3.5.1 Global Digestive Remedies Market by End User: An Overview
3.5.2 Global Adult Digestive Remedies Market by Value
3.5.3 Global Pediatric Digestive Remedies Market by Value
4. Regional Market Analysis
5. Impact of COVID
5.1 Impact of COVID-19 on Global Digestive Remedies Market
5.2 Post-COVID-19 Impact on Global Digestive Remedies Market
6. Market Dynamics
6.1 Growth Driver
6.1.1 Rapid Urbanization
6.1.2 Growth of E-commerce
6.1.3 Rising Disposable Income
6.1.4 Aging Population
6.1.5 Prevalence of Gastrointestinal Disorders
6.1.6 Increased Consumer Focus on Health
6.2.1 Counterfeit Products
6.2.2 Regulatory Hurdles
6.3 Market Trends
6.3.1 Increasing Penetration of Artificial Intelligence and Machine Learning
6.3.2 Escalation of Internet of Things (IOT)
6.3.3 Increase in Telemedicine and Digital Health Platforms
6.3.4 Increasing Demand for Probiotics
6.3.5 Increasing Demand for Functional Foods and Nutraceuticals
6.3.6 Growing Adoption of Personalized Medicines
7. Competitive Landscape
7.1 Global Digestive Remedies Market: Competitive Landscape
7.2 Global Digestive Remedies Players by Market Share
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qo137m
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