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The fast-paced world has actually forced the people to keep something like digestion at the backburner, whereas health needs to be given the topmost priority. This lethargy or “don’t care” attitude has actually given rise to the upswing in digestive remedies market. This is actually a 21st-century market, as something like this was never taken seriously by the people before. Only after the ignorance started taking a huge toll on health did the awakening come through. This factor would keep the digestive remedies market going even in the forecast period.
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What do the Digestive Remedies Market Dynamics say?
The global digestive remedies market, by type of product, span capsules, chewable, liquid/drinkable, powder, gels, and likewise (gummy, tablet, and pills). Nature-wise, it’s conventional and organic. By source, it’s probiotic and prebiotic. By sales channel, it’s pharmaceutical & drug store, supermarket/hypermarket, convenience store, direct store, online retail, and others. Probiotic holds more than 60% of the market share and the status quo is expected to remain the same in the forecast period. This could be reasoned with proven efficacy of probiotics in pancreatitis, pancreatic cancer, and exocrine pancreatic insufficiency. At the same time, the fact that certain customers could develop sensitivities and allergies to probiotics can’t be ignored. Coming to the positive side, digestive enzymes could be in great demand especially digestive enzymes powder.
With the passage of time, prebiotics are also expected to be held in high esteem as the scientists have realized that probiotics solely can’t suffice, as far as digestion aid is concerned.
Natural digestive remedies are also being considered; looking at the detrimental effects that synthetic remedies bring in.
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Competitive Remedies
The game changers of digestive remedies market include Johnson & Johnson Inc., Bayer AG, GlaxoSmithKline Plc, Boehringer Ingelheim GmbH, Procter & Gamble Co., Sanofi, Pfizer Inc., Reckitt Benckiser Group Plc, Jiangzhong Pharmaceutical Co. Ltd., bbott Laboraatories Inc., Takeda Pharmaceutical Co. Ltd., Prestige Brands Holdings Inc., Menarini Group, Taisho Pharmaceutical Holdings Co. Ltd., and Purdue Pharma LP. These players are certainly not into the comfort zone. They are in the state of innovation, persuasion, and assimilation, as they need to stick around amidst cutthroat competition.
The participants are more into inorganic mode of expansion. For instance – Boehringer Ingelheim and Sanofi have signed definitive agreements for swapping the latter’s animal health with the former’s consumer healthcare business. Also, the year 2019 witnessed a joint venture between Pifizer’s Consumer Health division and GlaxoSmithKline for extending support to product innovations and opportunities of revenue growth around the world.
How will the growth unfold from a region-wise perspective?
The current scenario is such that North America holds more than 30% of the market share due to growing incidences of chronic gastrointestinal diseases, growing geriatric population, and an increasing demand for preventive medicine all across the US. Europe stands second on the similar grounds. The UK is especially a hub of fast aging population. However, the Asia-Pacific is expected to grow at the fastest rate in the digestive remedies market in the near future due to growing awareness regarding the importance of digestion.
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