San Francisco, 29 July 2022: The Report Digestive & Intestinal Remedies Market Size, Share & Trends Analysis Report By Type, By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2022 – 2028
The global digestive & intestinal remedies market size is expected to reach USD 22.9 billion by 2028, registering a CAGR of 3.5% from 2022 to 2028, according to a new report by Grand View Research, Inc. Digestive medicines are the most common over the counter medicines purchased by people. Moreover, physicians recommend the use of these medicines only after minor health issues such as acidity and other digestive problems. But in several countries, these medicines are sold directly to the patients without prescription as per their rules and regulations.
The market is majorly driven by high demand for over-the-counter products such as zientac, omez, and others. There is an increase in gastrointestinal disorders cases among people. Moreover, increasing cases of inflammatory bowel disease, constipation, irritable bowel syndrome, and gastroesophageal reflux illness are other factors that in turn are boosting market growth over the forecast period.
The market growth is driven by the developments and expansion of fast-food joints and the food service industry. Due to the expansion of hotels, restaurants, and junk food places across the world, consumption of oily, spicy, and unhygienic food has increased extremely. Moreover, increasing disposable income and a hectic lifestyle are facilitating the trend of eating out. This significantly leads to digestive and intestinal problems such as acidity, upset stomach, inflammations, etc., and increases consumption of digestive and intestinal remedies.
During the COVID-19 pandemic, the sales of digestive and intestinal remedies were reduced globally. Lockdown measures to control the spread of COVID-19 and better hygiene have frozen the spread of seasonal illnesses, which has reduced the sales of over-the-counter medicines. Various pharmaceutical companies have displayed quarterly earnings reports which showed that a decrease in digestive and intestinal remedies has affected their bottom line sales in the market.
The digestive medicines accounted for the largest revenue share of over 50% in 2021 owing to the increasing demand for these drugs due to rising health issues. The rising aging population is also another key factor driving the segment growth. Moreover, altering lifestyles and diets has also increased the demand for digestive remedies products. Hence, owing to these reasons the segment is estimated to show growth over the estimated period.
The offline segment dominated the market with the highest share of over 70% in 2021. The demand for digestives & intestinal remedies is rising among customers due to more sustainability offered by these offline stores than any other channel. Hence the segment is projected to show growth during the assessment period.
North America dominated the market and accounted for around 45% revenue share in 2021 due to the growing number of gastrointestinal diseases in this region. Also, the growing geriatric and obese population in this region is driving the market growth. Increasing research and development activities along with the presence of key market players are other factors boosting market growth over the forecast period.
Access Research Report of Digestive & Intestinal Remedies Market @ https://www.grandviewresearch.com/industry-analysis/digestives-intestinal-remedies-market-report
Digestive & Intestinal Remedies Market Report Highlights
- Asia Pacific is expected to register the fastest CAGR of 4.1% from 2022 to 2028 owing to rising demand for digestives & intestinal remedies due to the increasing prevalence of GI illness disease
- The digestive medicines accounted for the largest revenue share of over 50% in 2021 owing to the increasing demand for these drugs due to rising health issues
- The offline segment dominated the market with the highest share of 70% in 2021 owing to its increasing sales
- The remedies against gastrointestinal complaints segment will register the highest growth at 3.7% from 2022 to 2028 due to its growing cases of gastrointestinal disease
List of Key Players in Digestive & Intestinal Remedies Market
- Bayer Healthcare
- Johnson & Johnson
- GlaxoSmithKline Plc
- Procter & Gamble Co
- Sanofi
- Boehringer Ingelheim GmbH
- Reckitt Benckiser Group Plc (RB)
- Abbott Laboratories Inc.
- Takeda Pharmaceutical Co Ltd
- Menarini Group
Access Press Release of Digestive & Intestinal Remedies Market @ https://www.grandviewresearch.com/press-release/global-digestives-intestinal-remedies-market
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