Dublin, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The "Digestive Remedies Market: Analysis By Type, By Formulation, By Distribution Channel, By End User, By Region Size and Trends and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.
The global digestive remedies market in 2023 stood at US$19.56 billion, and is likely to reach US$25.62 billion by 2029.
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 4.61% during the forecast period of 2024-2029.
Market Segmentation Analysis:
By Type: The market report has segmented the global digestive remedies market into seven segments namely, Antacids, Laxatives, Diarrheal Remedies, Proton Pump Inhibitors (PPIs), Digestive Enzymes, Motion Sickness, and Others. In 2023, the antacids segment dominated the market share as heightened stress levels, poor diets, and inactive lifestyles lead to widespread acid reflux, heartburn, and indigestion, prompting individuals to seek remedies. On the other hand, the laxatives segment is expected to be the fastest-growing segment due to its increasing prevalence of constipation, which is influenced by factors such as aging population and sedentary lifestyles, leading to a higher demand for effective treatments.
By Formulation: Based on the formulation, the global digestive remedies market can be segmented into four segments: Capsules, Tablets, Powder, and Others. In 2023, the capsule segment dominated the market, as consumers become increasingly aware of gut health importance and prefer convenient, easily consumable solutions like capsules, fitting well with their busy lifestyles. The powder segment is expected to be the fastest-growing segment due to its versatile and convenient formulations, easily mixed with liquids or meals, appeal to a wide range of customers.
By Distribution Channel: The global digestive remedies market can be divided into three segments based on distribution channel: Pharmacies & Drugstores, Online Providers, and Others. The Online Providers segment of the digestive remedies market is expected to be the fastest-growing due to the convenience and accessibility of online shopping. The growth of e-commerce, combined with the increasing usage of smartphones and the internet, has made it easier for customers to explore, compare, and purchase digestive remedies from the comfort of their own homes, which is likely to drive demand for online providers in the future years.
By End User: The global digestive remedies market can be divided into two segments according to end user: Adult, and Pediatric. The adult segment holds the largest market share in 2023, as well as the fastest growing market due to the increased demand for digestive remedies due to factors such as increased stress, unhealthy dietary habits, and sedentary lifestyles. These factors can contribute to digestive issues in adults, leading to a greater need for digestive support to maintain overall gut health, especially as natural digestive enzyme production decreases with age.
By Region: According to this report, the global digestive remedies market can be divided into five major regions. In 2023, North America dominated the global digestive remedies market due to the high prevalence of digestive disorders. The region has seen an increase in gastrointestinal diseases such as IBS, IBD, GERD, and constipation, due to changes in lifestyle, poor eating habits, sedentary lifestyles, and higher stress levels, along with a well-established healthcare infrastructure and strong R&D endeavors, which have fueled growth in the market.
The Asia Pacific digestive remedies market is expected to grow at the fastest CAGR from 2024 to 2029 due to increasing investment in healthcare infrastructure and greater access to medical care. The heightened awareness about the importance of digestive health, combined with government policies and initiatives aimed at boosting the pharmaceutical and healthcare sectors, is also driving the growth of the market in the region. India is expected to be the fastest-growing market for digestive remedies in the Asia Pacific due to rapid urbanization, a burgeoning middle class, and a large and growing population, along with increased awareness of digestive health, rising disposable incomes, and government support for the healthcare and pharmaceutical sectors.
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.
Furthermore, 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.
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.
Furthermore, key players in the digestive remedies market are:
- Bayer
- Sanofi
- Pfizer
- Abbott Laboratories
- Procter & Gamble
- Reckitt Benckiser
- Johnson & Johnson
- Nestle
- Haleon
- Sun Pharmaceutical Industries
- Perrigo
- Menarini
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 2023, 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 Attributes:
| Report Attribute | Details |
| No. of Pages | 168 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $20.45 Billion |
| Forecasted Market Value (USD) by 2029 | $25.62 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Digestive Remedies Overview
2.2 Digestive Remedies Segmentation Overview
3. Global Market Analysis
3.1 Global Digestive Remedies Market Analysis
3.2 Global Digestive Remedies Market Type Analysis
3.3 Global Digestive Remedies Market Formulation Analysis
3.4 Global Digestive Remedies Market Distribution Channel Analysis
3.5 Global Digestive Remedies Market End User Analysis
4. Regional Market Analysis
4.1 North America Digestive Remedies Market Analysis
4.2 Europe Digestive Remedies Market Analysis
4.3 Asia Pacific Digestive Remedies Market Analysis
4.4 Latin America Digestive Remedies Market Analysis
4.5 Middle East & Africa Digestive Remedies 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 Challenges
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
- Bayer
- Sanofi
- Pfizer
- Abbott Laboratories
- Procter & Gamble
- Reckitt Benckiser
- Johnson & Johnson
- Nestle
- Haleon
- Sun Pharmaceutical Industries
- Perrigo
- Menarini
For more information about this report visit https://www.researchandmarkets.com/r/8kbwhb
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