Key regions: United States, South Korea, Japan, Canada, India
The Digestive & Intestinal Remedies (Pharmacies) market in India is experiencing significant growth and development.
Customer preferences: Indian consumers are increasingly seeking digestive and intestinal remedies from pharmacies due to the rising prevalence of gastrointestinal disorders and digestive health issues. The changing dietary habits, sedentary lifestyles, and high-stress levels are contributing to the growing demand for these remedies. Consumers are also becoming more health-conscious and proactive in managing their digestive health, leading to increased purchases of over-the-counter remedies from pharmacies.
Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in India is the shift towards natural and herbal remedies. Many consumers are now opting for Ayurvedic and herbal products that are perceived to be safer and have fewer side effects. This trend is driven by the traditional belief in the effectiveness of natural remedies and the increasing availability of herbal products in pharmacies. Another trend is the growing popularity of probiotics and digestive enzymes. These products are being marketed as aids for improving digestion and gut health. The increasing awareness about the importance of maintaining a healthy gut microbiome is driving the demand for these products. Pharmacies are capitalizing on this trend by stocking a wide range of probiotics and digestive enzymes to cater to consumer needs.
Local special circumstances: India has a rich tradition of Ayurveda and natural remedies, which influences consumer preferences in the Digestive & Intestinal Remedies market. Ayurvedic remedies are highly regarded for their holistic approach to health and wellness. This cultural preference for natural remedies has created a niche market for Ayurvedic digestive and intestinal remedies in India. Furthermore, the Indian pharmaceutical industry is known for its strong generics market. Generic versions of digestive and intestinal remedies are widely available in pharmacies at lower prices compared to branded products. This affordability factor has contributed to the increased accessibility and affordability of these remedies for consumers.
Underlying macroeconomic factors: India's growing population and rising disposable income levels are key macroeconomic factors driving the growth of the Digestive & Intestinal Remedies market. As more people can afford healthcare products, the demand for digestive and intestinal remedies is expected to continue growing. Additionally, the increasing urbanization and expansion of organized retail in India have made these remedies more easily accessible to consumers. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in India is witnessing growth due to changing customer preferences, including a shift towards natural and herbal remedies, and the increasing popularity of probiotics and digestive enzymes. The local special circumstances, such as the cultural preference for Ayurvedic remedies and the availability of affordable generic products, further contribute to the market's development. The underlying macroeconomic factors, such as the growing population and rising disposable income levels, provide a favorable environment for the market's continued growth.
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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