IMARC Group, a leading market research company, has recently released a report titled “Gastrointestinal OTC Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the gastrointestinal OTC drugs market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Gastrointestinal OTC Drugs Market?
The global gastrointestinal OTC drugs market size reached US$ 40 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 52.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.90% during 2023-2028.
What are Gastrointestinal OTC Drugs?
Gastrointestinal over-the-counter (OTC) medications are non-prescription drugs that are available without any prescription from doctors to relieve the symptoms related to the digestive system and promote improved digestive health. Some of the commonly used gastrointestinal over-the-counter (OTC) drugs include antacids, proton pump inhibitors (PPIs), laxatives, H2 blockers, antiemetics, bowel anti-inflammatory drugs, and anti-diarrheal medication. They are generally employed to address gastrointestinal diseases, including complications related to the large intestine, small intestine, gallbladder, stomach, esophagus, rectum, liver, and pancreas. In addition, gastrointestinal OTC drugs are widely utilized to treat diarrhea, motion sickness, acid reflux, indigestion, constipation, flatulence, and vomiting. They also enhance gut health, restore beneficial bacteria, prevent future complications, and reduce the severity of several symptoms. As a result, gastrointestinal OTC is easily available in hospitals, clinics, and pharmacies across the globe.
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What are the growth prospects and trends in the gastrointestinal OTC drugs industry?
The market is primarily driven by the growing occurrences of gastrointestinal (GI) ailments such as gastroesophageal reflux disease (GERD), and irritable bowel syndrome (IBS). Additionally, rapid urbanization, sedentary lifestyles, hectic schedules, and unhealthy eating habits of individuals are contributing to market growth. Gastrointestinal OTC drugs are commonly used to treat various conditions such as dyspepsia, acute diarrhea, heartburn, bloating, and morning sickness. Moreover, numerous technological advancements and the development of advanced forms such as effervescent tablets, liquids, suspensions, film strips, and chewable products are enhancing the effectiveness of the drugs, improving absorption, and reducing the frequency of dosing, representing another major growth-inducing factor. Besides this, the emergence of convenient and travel-friendly packaging options such as blister packs, resealable pouches, and single-dose packets is accelerating market growth. Along with this, the significant expansion in online and retail pharmacies due to the easy availability, affordability, and several payment options for purchasing gastrointestinal OTC drugs is propelling the market growth. Apart from this, the gastrointestinal OTC drugs market is growing at different rates in numerous regions, with North America being the largest market due to the increasing prevalence of gastrointestinal ailments, growing awareness among the masses, and numerous product innovations across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. Furthermore, the growing awareness among individuals about the importance of digestive health and the widespread adoption of gastrointestinal drugs to promote gut health, ensure proper breakdown and absorption of nutrients, and improve digestion are influencing the market growth. In line with this, the rising popularity of self-care and growing inclination toward non-invasive treatments to manage common digestive issues and offer immediate relief is also creating a positive market outlook for gastrointestinal OTC drugs.
What is included in market segmentation?
The report has segmented the market into the following categories:
Drug Class Insights:
- Gastrointestinal Cancer Treatments
- Gastric Acid Reducers
- Proton Pump Inhibitors
- H2 Inhibitors
- Gastric Acid Neutralizers
- Bowel Anti-Inflammatory
- Gastroesophageal Reflux Disease (GERD) or Heartburn
- Motion Sickness
End User Insights:
End Use Insights:
- Oil and Gas
- Water Treatment
- Food and Beverages
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Boehringer Ingelheim GmbH
- Johnson & Johnson
- Prestige Consumer Healthcare Inc.
- Purdue Pharma L.P
- Zydus Lifesciences Limited
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