Key regions: United States, South Korea, Japan, Canada, India
The Digestive & Intestinal Remedies (Pharmacies) market in Panama has been experiencing steady growth in recent years.
Customer preferences: Panamanian customers have shown a growing preference for digestive and intestinal remedies due to a variety of factors. One of the main reasons is the increasing awareness of the importance of digestive health and its impact on overall well-being. As people become more health-conscious, they are seeking out products that can help alleviate digestive issues such as indigestion, bloating, and heartburn. Additionally, the convenience of purchasing these remedies from pharmacies makes them a popular choice among consumers.
Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Panama is the rising demand for natural and herbal remedies. Customers are increasingly looking for products that are made from natural ingredients and have fewer side effects. This trend is in line with the global shift towards more natural and holistic approaches to healthcare. As a result, pharmaceutical companies are developing and marketing more natural remedies to cater to this growing demand. Another trend in the market is the increasing availability of over-the-counter (OTC) digestive and intestinal remedies. OTC products are medications that can be purchased without a prescription, making them easily accessible to consumers. This convenience factor has contributed to the growing popularity of OTC remedies, as customers can quickly and easily find relief for their digestive issues without having to visit a doctor.
Local special circumstances: One of the unique factors in the Panamanian market is the high prevalence of gastritis and other digestive disorders. This can be attributed to various factors such as the consumption of spicy and greasy foods, stress, and a sedentary lifestyle. As a result, there is a higher demand for digestive and intestinal remedies in Panama compared to other countries.
Underlying macroeconomic factors: The growing Digestive & Intestinal Remedies market in Panama can be attributed to several macroeconomic factors. Firstly, the country's stable economic growth has led to an increase in disposable income, allowing consumers to spend more on healthcare products. Additionally, the aging population in Panama has also contributed to the growth of the market, as older individuals are more likely to experience digestive issues and seek remedies for them. In conclusion, the Digestive & Intestinal Remedies market in Panama is experiencing steady growth due to customer preferences for natural remedies, the availability of over-the-counter products, the high prevalence of digestive disorders, and underlying macroeconomic factors such as stable economic growth and an aging population.
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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