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The Gastrointestinal Over-The-Counter (OTC) Drugs Market size is estimated to grow at a CAGR of 5.29% between 2022 and 2027. The market size is forecasted to increase by USD 4,759.86 million. The growth of the market depends on several factors, including the increase in the prevalence of gastrointestinal disorders, the rise in the adoption of gastrointestinal OTC drugs due to easy availability and affordability, and the availability of multiple payment options.
This Gastrointestinal Over-The-Counter Drugs Market report extensively covers market segmentation by product (antacid, laxatives, anti-diarrheal, anti-emetics, and others), distribution channel (offline and online), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increase in the prevalence of gastrointestinal disorders is notably driving the Gastrointestinal Over-The-Counter (OTC) Drugs Market growth, although factors such as the risk of taking the wrong medication due to incorrect self-diagnosis may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in the prevalence of gastrointestinal disorders is notably driving the Gastrointestinal Over-The-Counter (OTC) Drugs Market growth. Gastrointestinal disorders refer to a group of medical conditions that affect the digestive/gastrointestinal system. The prevalence of gastrointestinal disorders has increased worldwide over the last few years, which has increased healthcare costs and decreased the quality of life of people. Changes in lifestyles and eating habits are some of the primary causes of these disorders. The consumption of processed and fast food has increased in recent years, leading to gastrointestinal disorders. The rise in stress levels also contributes to the increase in gastrointestinal disorders. Stress can cause conditions such as irritable bowel syndrome, ulcers, and acid reflux.
The rise in the prevalence of gastrointestinal disorders has an impact on individual patients and their families. Patients can experience chronic pain, loss of appetite, and reduced quality of life. Gastrointestinal disorders can also be life-threatening in some cases. These factors are expected to increase the demand for gastrointestinal OTC drugs worldwide, which, in turn, is expected to propel the growth of the global gastrointestinal OTC drugs market during the forecast period.
The increase in the adoption of online platforms for gastrointestinal OTC drugs is a key trend shaping the market. The popularity of online platforms has increased as they offer convenience, accessibility, and various options to consumers. These platforms provide detailed information about each drug, including the ingredients, dosage, and possible side effects, which helps buyers make informed decisions. Consumers can also read reviews from other buyers.
Online platforms also provide home delivery options. For example, Amazon offers a wide range of gastrointestinal OTC drugs, such as antacids, laxatives, and anti-diarrhea medications, that can be delivered within a day. It also provides information on different gastrointestinal issues, such as heartburn, indigestion, and constipation. Walgreens and CVS provide similar services. These factors are expected to fuel the growth of the market during the forecast period.
The risk of taking the wrong medication due to incorrect self-diagnosis may impede market growth. There are various gastrointestinal OTC drugs that do not require a prescription. However, incorrect self-diagnosis of the condition may lead the patient to take the wrong medication. Patients may not have adequate knowledge or expertise to differentiate between different gastrointestinal conditions. This can lead to unwanted side effects, prolonged discomfort, and serious complications.
Patients often fail to follow the instructions provided on OTC drugs, which can lead to incorrect dosage and timing. This can also lead to dangerous drug interactions or adverse effects. Moreover, patients may not be aware of the use of certain OTC gastrointestinal drugs. For example, antacids are commonly used to relieve indigestion or heartburn, but they are counter-indicated in patients who may have an undiagnosed peptic ulcer. These factors are expected to hinder the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Gastrointestinal OTC Drugs Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company offers gastrointestinal OTC drugs such as Pantoprazole.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the antacid segment will be significant during the forecast period. Antacids are used to treat symptoms of acid reflux, indigestion, and heartburn, which are caused by an increase in the acidity of the stomach. They work by neutralizing the acid, thereby relieving these symptoms. Antacids are available in various forms, such as tablets, capsules, suspensions, and chewable tablets. The growth of this segment is attributed to factors such as the increasing prevalence of gastrointestinal disorders worldwide.
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The antacid segment was valued at USD 6,469.55 million in 2017 and continued to grow until 2021. The prevalence of gastrointestinal disorders is increasing, owing to factors such as unhealthy eating habits, stressful lifestyles, and the use of non-steroidal anti-inflammatory drugs (NSAIDs). This is driving the demand for antacids. The easy access to healthcare and self-medication practices are also contributing to the growth of the antacid segment.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The demand for OTC drugs, especially for gastrointestinal issues such as irritable bowel syndrome (IBS), constipation, diarrhea, and acid reflux, is increasing in North America. This growth is attributed to various factors, such as a sedentary lifestyle, unhealthy eating habits, and rising stress levels. In addition, the increasing geriatric population in North America is leading to a rise in the demand for gastrointestinal OTC drugs. The presence of advanced healthcare infrastructure and leading pharmaceutical companies also contribute to the growth of the Gastrointestinal Over-The-Counter Drugs Market in the region.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The COVID-19 pandemic had a negative impact on the sales of gastrointestinal OTC drugs in North America in 2020 and early 2021. However, by the second quarter of 2021, lockdown restrictions were relaxed with the introduction of COVID-19 vaccination across various countries. The rising number of clinical trials and approvals by the US FDA for gastrointestinal OTC drugs, the increase in the prevalence of gastrointestinal diseases, the growth in healthcare expenditure, and the rise in the number of advanced healthcare facilities are expected to drive Gastrointestinal Over-The-Counter Drugs Market growth in the region during the forecast period.
The Gastrointestinal OTC Drugs Market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the Gastrointestinal OTC Drugs Market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent market, the global pharmaceuticals market, covers products and companies engaged in the R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Technavio calculates the global healthcare market size based on the combined revenue generated by manufacturers/providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Gastrointestinal OTC Drugs Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.29% |
Market growth 2023-2027 |
USD 4,759.86 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.77 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, AbbVie Inc., Bausch Health Co. Inc., Bayer AG, Cipla Ltd., Dr Reddys Laboratories Ltd., Eisai Co. Ltd., GlaxoSmithKline Plc, Haleon Plc, Johnson and Johnson Services Inc., Merck KGaA, Novartis AG, Pfizer Inc., Phathom Pharmaceuticals Inc., Prestige Consumer Healthcare Inc., Sanofi SA, SonoScape Medical Corp., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Vee Excel Drugs And Pharmaceuticals Pvt. Ltd., Zoic Pharmaceuticals Pvt. Ltd., and Boehringer Ingelheim International GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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