New Healthcare market report from Euromonitor International: "Digestive Remedies in Denmark"
Boston, MA -- (SBWIRE) -- 06/19/2014 -- A number of factors related to lifestyle and demographics positively impacted sales of digestive remedies in Denmark. First of all, there is an increasing wish among Danes to live active and interesting lives, combining career with travel, sports and cultural events. Most obviously, the increase in travelling leads to increased sales of motion sickness remedies. Moreover, there is a possibility that hectic lifestyles lead to an increase in the incidence of ulcers and heartburn and thus encourages growth in demand for antacids, proton pump inhibitors and other digestive remedies. Finally, it should be noted that the Danish population is ageing, a fact which also impacts demand for digestive remedies. This can especially be seen in laxatives, which showed steady growth, partly fuelled by the fact that constipation is more common among the elderly.
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Digestive remedies was led by McNeil Denmark with value share of 15% in 2013. The majority of McNeil's sales are generated in diarrhoeal remedies where the company's brands Imodium and Imodium Plus hold combined value share of 68%. The launch of Orifarm's competing generic product Imolope in 2007 led to a decline in Imodium's value share from 2007-2011, but in 2012-2013 the situation stabilised indicating that a large consumer segment remains, which is willing to pay extra for a traditional, well-known brand.
Over the forecast period, the generic manufacturer and parallel importer Orifarm is expected to continue its aggressive expansion policy. The company may choose to enter antacids, which is the largest of the category, where Orifarm is not already present. Through intense marketing Orimfarm will also strive to increase its share in the categories, where the company is already present. However, the fact that Orifarm's value share in digestive remedies after some years of strong growth has managed to remain stable at 13% since 2011, shows that the company will have to fight to grow further. More specifically, further growth requires that Orifarm expands its consumer base beyond the most price-sensitive consumers to wider consumer segments, which are more likely to value the symbolic value of brands and be willing to pay extra. However, Orifarm is obviously willing to make the marketing investments, which are required to capture these further consumer segments, and thus the company is expected to continue growing over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Digestive Remedies industry in Denmark with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Digestive Remedies industry in Denmark, our research will save you time and money while empowering you to make informed, profitable decisions.
The Digestive Remedies in Denmark market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Digestive Remedies in Denmark?
- What are the major brands in Denmark?
- Are there any herbal/traditional home-made digestive remedies, like charcoal, which compete strongly with standard medicinal products?
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