Market Insights Health Pharmacies OTC Products

Digestive & Intestinal Remedies (Pharmacies) - Chile

Chile

Revenue in the Digestives & Intestinal Remedies market is projected to reach US$14.17m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.37%, resulting in a market volume of US$15.56m by 2028.
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$0.72 are generated in 2024.

Key regions: United States, South Korea, Japan, Canada, India

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Analyst Opinion

The Digestive & Intestinal Remedies (Pharmacies) market in Chile is experiencing steady growth and development.

Customer preferences: Customers in Chile are increasingly seeking digestive and intestinal remedies to address common gastrointestinal issues such as indigestion, heartburn, and constipation. This trend can be attributed to several factors. Firstly, the changing dietary habits of Chileans, with a shift towards more processed and fast food, has led to an increase in digestive problems. Additionally, the growing awareness and importance of maintaining a healthy gut microbiome has also contributed to the demand for digestive and intestinal remedies.

Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Chile is the rising popularity of natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of pharmaceutical products and are seeking natural alternatives. This has led to an increase in the demand for herbal supplements and probiotics, which are believed to promote digestive health. Manufacturers are responding to this trend by introducing a wide range of natural and herbal products to cater to the growing demand. Another trend in the market is the increasing availability and convenience of over-the-counter (OTC) remedies. Chile has a well-established network of pharmacies, making it easy for consumers to access a variety of digestive and intestinal remedies without a prescription. This convenience factor has contributed to the growth of the OTC segment in the market, as consumers can easily self-diagnose and purchase remedies for their digestive issues.

Local special circumstances: Chile has a high prevalence of digestive disorders, which is driving the demand for digestive and intestinal remedies. Factors such as stress, sedentary lifestyles, and poor dietary habits contribute to the high incidence of gastrointestinal issues in the country. Additionally, Chile's aging population is also a significant factor in the market's development, as older individuals are more prone to digestive problems and are more likely to seek remedies to alleviate their symptoms.

Underlying macroeconomic factors: Chile's stable economy and rising disposable incomes have also contributed to the growth of the Digestive & Intestinal Remedies market. As people have more purchasing power, they are willing to spend on healthcare products, including remedies for digestive issues. Furthermore, the increasing urbanization and modernization of Chile have led to a greater emphasis on health and wellness, driving the demand for digestive and intestinal remedies. In conclusion, the Digestive & Intestinal Remedies market in Chile is experiencing growth due to changing customer preferences, including a preference for natural and herbal remedies, as well as the increasing availability of over-the-counter products. The high prevalence of digestive disorders, coupled with Chile's stable economy and rising disposable incomes, further contribute to the market's development.

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.