Unhealthy Lifestyles Necessitate the Demand for Digestive Remedies
The global market for digestive remedies is anticipated to reach the revenues worth ~S$ 22 Billion by 2027, according to a recent study released by PMR. Growing consumer understanding of the acuteness of gastrointestinal disorders, combined with the need for excellent health, is anticipated to boost the global digestive remedies market over the forecast period of 2019 to 2027.
The growing ubiquity of gastrointestinal diseases, such as inflammatory bowel disease, irritable bowel syndrome, constipation, and gastroesophageal reflux illness, has raised concerns about stomach health, which, in turn, is expected to boost product development within the digestive remedies market.
Digestive remedies supplements must comply with the requirements of multiple regulatory bodies, including the U.S. Food and Drug Administration, Dietary Supplement Health and Education Act 1994, and Natural Health Products Regulations for manufacture and use.
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- Johnson & Johnson Inc.
- Bayer AG
- GlaxoSmithKline Plc
- Boehringer Ingelheim GmbH
- Procter & Gamble Co,
- Pfizer Inc.
- Reckitt Benckiser Group Plc (RB)
- Jiangzhong Pharmaceutical Co Ltd
- Abbott Laboratories Inc.
- Takeda Pharmaceutical Co Ltd
- Prestige Brands Holdings Inc.
- Menarini Group
- Taisho Pharmaceutical Holdings Co Ltd
- Purdue Pharma LP
Consumer Focus Rapidly Shifting to Healthy Living; Natural Digestive Remedies and Mental Health Becoming a Priority
In the recent past, the production of digestive remedies products has risen considerably. In addition to dietary advantages, digestive remedies provide a plethora of human health advantages. Of all the new products available in the digestive remedies category, probiotics and prebiotics integrated food products have gained significant market share in global digestive remedies, especially in Europe, Asia, and lately in the United States.
Thus, the probiotic strategy and the prebiotic approach through the growth of functional foods are fundamentally distinct, although both contribute to the general improvement of intestinal health and fuel the demand of digestive remedies product across the globe.
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Pre & Probiotics Stimulating Strategic Developments
There has been a lengthy debate among health experts over the health advantages of digestive remedies such as probiotics and prebiotics for many years, and which of them was the most effective product for improving human health.
Weighing each item for digestive remedies pros and cons, producers and scientists initially concentrated on probiotics, while prebiotics was not given much significance. This is reflected in the marketing styles of each item and thus, sales of probiotics gained traction for the global digestive remedies market.
In the last few years, market competitors are turning to prebiotics as they think that probiotics alone are not enough for digestive health. The best technique is to use both probiotics and prebiotics in tiny amounts and to allow the multiplication of good bacteria by supplying them with food in the form of prebiotics and by replenishing the number of bacteria over a period of time with probiotics.
Endeavors by market players to enhance the efficacy of both prebiotics and probiotics by continuously investing time and money in research and development initiatives will propel the digestive remedies market to greater heights. The industry will further gain traction through well placed and well-timed marketing strategies.
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Probiotic Digestive Remedies Pocket 2/3rd Market Shares amid Ethical Concerns
The segment of animal origin maintains a market share of more than 60% in the source segment and is anticipated to follow the same trend over the forecast period. Major variables responsible for the segment development include the efficacy of in multiple illnesses or circumstances, such as pancreatitis, exocrine pancreatic insufficiency, and pancreatic cancer. However, ethical problems related to products of probiotic are anticipated to hinder segment growth.
In addition, the allergies and sensitivities of customers to these products of animal origin are also anticipated to hinder their development in the global digestive remedies industry.
On the positive side, the microbial enzyme segment is anticipated to experience the growth rate of 1.9% in the forecast period. This development rate of microbial origin products can be ascribed to variables such as the low price of manufacturing and elevated enzymatic activity.
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Asia Pacific to Overtake North America in Retail Sales by 2027 in Digestive Remedies Market
Presently, North America holds 1/3rd of the global shares in the global digestive remedies market. The increasing incidence of chronic gastrointestinal diseases, the rapid aging of the population, the increasing demand for preventive medicine and the existence of significant market players are the main factors contributing to the big size of the industry.
Apart from the elevated incidence of GI illnesses, demand for instant relief solutions has escalated the growth across the region. With the time-pressed working population seeking quick-fix solutions, well-established companies are increasingly offering innovative digestive remedies. On the other side, Asia-Pacific is anticipated to have the highest development rate in the forecast period.
Leading Companies Investing in Acquisitions
Due to the existence of multiple big and small producers, the digestive remedies market is extremely fragmented and competitive. Some of the major competitors in the global digestive remedies market are Bayer Healthcare, Johnson & Johnson, GlaxoSmithKline Plc, Procter & Gamble Co, Sanofi’s and Boehringer Ingelheim GmbH. Sanofi and Boehringer Ingelheim have reached definitive agreements to swap Sanofi’s animal health and Boehringer Iingelheim’s consumer healthcare businesses
Key competitors are extremely focused on innovation in manufacturing techniques to enhance effectiveness and shelf life. The greatest long-term growth prospects for this industry can be seized by ensuring continuing process improvements and economic flexibility to invest in the best possible approaches. Recently, In July 2019, GlaxoSmithKline has announced the joint venture with Pfizer's Consumer Health division to support the product innovations and revenue growth opportunities across the globe.
Adoption of innovative marketing strategies has allowed participants in the digestive remedies industry to grow at a significant rate. With adequate investment at each point of product development, companies have worked to increase awareness of the health advantages of digestive remedies. In order to increase product awareness, successful clinical trial results have been shared with target customers.
Digestive remedies Market: In-Depth Assessment on Key Segments
The global digestive remedies market is segmented on the basis of Product Type, Nature, Source, Sales Channel and Region.
Country-specific assessment on demand for digestive remedies have been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous digestive remedies producers, experts and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market.
Some of the major companies operating in the digestive remedies market are: Bayer Healthcare, Johnson & Johnson, GlaxoSmithKline Plc, Procter & Gamble Co and Boehringer Ingelheim GmbH and others