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Digestive Health Market | Expected to Reach USD 71.95 billion (at CAGR of 7.9%) | COVID-19 Impact Covered | Forecast Period 2021-2027
Digestive Health Market
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The coronavirus incident has caused massive loss and disruption to various industries across the globe. We understand that this health disaster has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
The report on themarket incorporates:
Wide-ranging inspection of the industry
Significant information about segments
Leading regions in the market
Competitive landscape
Recent developments and drivers
COVID-19 impact
Heavy R&D Investments by Industry Players to Incite Development
The growing concerns regarding gut health among consumers have impelled manufacturers to invest heavily in research and development of digestive health products. According to a large-scale multinational research study conducted in 2020, more than 40% of the people worldwide have functional gastrointestinal disorders, affecting the quality of life and healthcare use. Thus, the surging demand for natural and safe products will create opportunities for the digestive health industry. Furthermore, the development of innovative products by key players can have an exceptional effect on the market. For instance, in November 2020, Beroni Group, an Australia-based diversified biopharmaceutical enterprise, announced a new product Beilemei in China. It is a probiotic health product aimed at modulating the balance of human intestinal flora.
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Surging Demand for Health Productsto Boost Business Amid COVID-19
The market has faced limitations due to the disruption caused by COVID-19 in the logistics and supply chain. However, the demand for functional products has remained steady throughout the epidemic. The prominent companies operating in the market focus on their distribution network and production lines to cater to consumers' demands. According to Yakult U.S.A. Inc.'s annual report, in their overseas food and beverage business, average daily sales rose by 1.6% from the prior year to 31,624 bottles in 2020. Moreover, the growing cognizance about dietary supplements and healthy products will subsequently uplift the digestive health market growth during the coronavirus pandemic. According to the Food & Beverage and Supplements Report 2020, almost one-third of consumers consume more supplements (31%), functional foods, or beverages (29%).
Adoption of Organic Products to Propel Market in Europe
The market in Asia Pacific is expected to hold the largest share in the global digestive health market. The rising prevalence of digestive disorders is the factor contributing to the growth of this market. The demand for digestive health products is burgeoning, especially in countries such as Japan, India, and China. This has further given tailwinds to the market in this region. Followed by this, the market in North America is anticipated to hold the second-largest share in the global market. The growth is attributed to the rising geriatric population in the US and Canada. The surging number of gastrointestinal issues coupled with the presence of a large number of manufacturers in the region. Europe is expected to expand exponentially due to the rising adoption of natural and safe digestive health products. The Middle East & Africa is expected to proliferate owing to the increasing consumer spending.
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Key Development:
April 2018: Sundyota Numandis, a major leader in clinically proven and safe healthcare solutions, announced its partnership with an Italian firm to launch the world’s most researched probiotic product, Lactobacillus rhamnosus GG, in the Indian market.
The Report Lists the Key Players in the Market:
Yakult Honsha Co., Ltd. (Tokyo, Japan)
Cie Gervais Danone (Paris, France)
Sanofi (Paris, France)
BASF SE (Ludwigshafen, Germany)
Bayer AG (Leverkusen, Germany)
Hansen Holding A/S (Hørsholm, Denmark)
Nestle S.A. (Vevey, Switzerland)
Deerland Probiotics & Enzymes, Inc (United States)
DuPont (Delaware, United States)
Other Prominent Players
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
Number of procedures and average price of procedures
Replacement rate and pricing of capital equipment
Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
Market & technological trends, new product developments, product pipeline.
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