Canada digestive remedies market forecast to increase by 2% CAGR during 2014 to 2019
Digestive Remedies in Canada - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 00:53:02
The fundamental driver of sales of digestive remedies is the fact that many Canadians suffer from digestive disorders, which can be exacerbated with ageing, and give rise to serious social and economic problems in Canada. The Canadian Digestive Health Foundation estimates that in 2009 more than 60% of Canadians (20 million people) had digestive disorders, which led to 30,000 deaths and C$18 billion in economic costs, including loss of productivity. However, this growing problem did not seem to bring sales to digestive remedies in 2013. Reasons include a lack of significant innovation, improved general nutrition, which included high fibre and fermented products, as well as competition from vitamins and dietary supplements, probiotics in particular.
McNeil Consumer Healthcare remained the largest brand owner in digestive remedies (22% value share) in 2013, with brands such as Imodium, Pepcid and Lactaid, each of which is the leading brand in its respective category. Other players, including Church & Dwight (Gravol and Diovol), Procter & Gamble (Metamucil), Prestige Brands (Gaviscon and Beano) and Purdue-Frederick (Senokot), as well as Shoppers Drug Mart´s Life brand, each held shares of between 5% and 10%.
In the next five years, digestive remedies is anticipated to see modest if not moderate growth, with a constant value CAGR of 2%, picking up slightly from 2012 and 2013, as it slowly recovers from Novartis´s shortage of OTC medication.
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