Abstract
This report covers a range of products designed specifically for relief from gastrointestinal ailments, including antacids, laxatives, stomach remedies and anti-diarrheals.
In 2006, there were an estimated 62 million sufferers of gastrointestinal (GI) ailments. Poor diet and stress-inducing lifestyles also factor into sales. Many consumers are following the growing trend to diagnose and treat themselves when minor GI ailments occur, which has aided sales. Hispanic consumers appear to be a very viable demographic for manufacturers of over-the-counter remedies, as their population and spending power increases rapidly. A significant number of Hispanics and other ethnicities also lack health insurance, and in many cases must turn to over-the-counter medications to alleviate symptoms. The cornerstone of the market remains aging consumers, who report suffering from GI disorders and using remedies more than their younger counterparts.
Major innovation is scarce in the market, despite 130 new products or line extensions between 2001 and 2006. Among the new product trends are chewable tablets, more palatable flavoring, and combination products that offer relief for two or more symptoms. Most of the growth in the market has come from prescription switches, mainly Procter & Gamble's Prilosec tablets, and to a lesser degree Pfizer's Zantac 150 tablets. Without the sales of these products, the market would not exhibit the growth it has between 2004 and 2006.
The future of the market appears strong, mostly because the number of consumers aged 45 and older, the period in age when GI disorders begin to appear more frequently, is forecast to increase more than younger demographics. Also, a relaxation of FDA standards on prescription switches may allow more products to go OTC, despite more stringent laws on direct-to-consumer advertising and recent litigation involving switches in other OTC markets. Switches traditionally aid the overall size of the market. Hispanic population and spending power numbers are expected to increase in the coming years as well, heralding further participation in the market.
In this report, Mintel clearly identifies the principal external factors driving or curtailing growth. Exclusive consumer research reveals the attitudes, needs and behavior of consumers, with analysis broken down both by demographic characteristics, and by segment.
Six years of specific sales data provide a factual and impartial presentation of the market as a whole. Mintel also evaluates the performance of individual sectors in the market, and provides information about the major companies and brands. Using the SPSS forecasting package, Mintel creates a five-year forecast of U.S. retail sales, revealing potential opportunities for growth and product development.
This report contains US IRI InfoScan data.
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