Key regions: United States, South Korea, Japan, Canada, India
The Digestive & Intestinal Remedies (Pharmacies) market in Thailand has been experiencing significant growth in recent years, driven by a number of factors.
Customer preferences: Thai consumers are increasingly prioritizing their digestive health, leading to a growing demand for digestive and intestinal remedies. This can be attributed to several factors, including changes in dietary habits, increased stress levels, and a greater awareness of the importance of gut health. As a result, consumers are seeking out products that can help alleviate digestive issues such as indigestion, bloating, and constipation.
Trends in the market: One of the key trends in the Digestive & Intestinal Remedies market in Thailand is the shift towards natural and herbal remedies. Thai consumers have a long-standing tradition of using traditional herbal medicines, and this preference is reflected in the market for digestive and intestinal remedies. Consumers are increasingly looking for products that are made from natural ingredients and have fewer side effects. This trend is also driven by a growing interest in holistic health and wellness. Another trend in the market is the increasing availability and popularity of over-the-counter (OTC) remedies. In the past, many consumers would visit a doctor or healthcare professional for digestive issues. However, with the rise of OTC remedies, consumers now have the option to self-diagnose and self-treat their digestive problems. This convenience factor has contributed to the growth of the market.
Local special circumstances: Thailand has a strong traditional medicine culture, with a wide range of herbal remedies that have been used for centuries. This has created a unique market for digestive and intestinal remedies, with a variety of traditional Thai remedies available alongside Western pharmaceutical products. Local manufacturers have capitalized on this demand by developing products that combine traditional Thai ingredients with modern scientific knowledge.
Underlying macroeconomic factors: Thailand's growing middle class and rising disposable incomes have played a significant role in the growth of the Digestive & Intestinal Remedies market. As more people have the means to afford healthcare products, the demand for digestive and intestinal remedies has increased. Additionally, the country's aging population has also contributed to the growth of the market, as older individuals are more likely to experience digestive issues and seek out remedies. In conclusion, the Digestive & Intestinal Remedies (Pharmacies) market in Thailand is experiencing growth due to changing customer preferences, including a focus on natural and herbal remedies, as well as the increasing availability of over-the-counter options. The country's strong traditional medicine culture and favorable macroeconomic factors, such as a growing middle class and an aging population, have also contributed to the market's development.
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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