by The global Laxatives Market is estimated to be valued at USD 6.5 billion in 2022 and is expected to exhibit a CAGR of 6.00% over the forecast period 2023-2032, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
The Laxatives Market is driven by the increasing prevalence of digestive disorders such as constipation and irritable bowel syndrome (IBS) and the growing aging population. Laxatives are used to treat and prevent constipation by helping to promote bowel movements. They are available over-the-counter or by prescription and come in various forms such as oral tablets, capsules, powders, and suppositories. Laxatives are also used in certain medical conditions such as opioid-induced constipation and for bowel preparation before surgical procedures.
B) Market Dynamics:
The market dynamics of the Laxatives Market are influenced by two main drivers: the increasing prevalence of digestive disorders and the growing aging population.
Driver 1: Increasing Prevalence of Digestive Disorders:
Digestive disorders such as constipation, IBS, and chronic idiopathic constipation (CIC) are common gastrointestinal conditions affecting millions of people worldwide. According to the International Foundation for Gastrointestinal Disorders, around 25-45 million Americans suffer from IBS. The demand for laxatives is expected to increase to provide relief from these conditions.
Driver 2: Growing Aging Population:
The global population is experiencing a significant increase in the aging population. With age, the risk of developing digestive disorders and constipation increases. According to the World Health Organization, the global population aged 60 years and above is projected to reach 2 billion by 2050. This aging population is expected to drive the demand for laxatives.
C) SWOT Analysis:
– Strength:
- Increasing prevalence of digestive disorders: The rising number of people suffering from digestive disorders is driving the demand for laxatives.
- Growing aging population: The aging population is more prone to constipation, leading to increased demand for laxatives.
– Weakness:
- Side effects of long-term use: Prolonged use of laxatives may lead to dependence and potential side effects such as dehydration, electrolyte imbalances, and damage to the intestines.
- Availability of alternative treatments: There are various alternative treatments available for digestive disorders, such as dietary and lifestyle changes, which may limit the growth of the laxatives market.
– Opportunity:
- Technological advancements: Advancements in drug delivery systems and formulations can provide more effective and safer laxatives.
- Emerging markets: The Laxatives Market has significant growth potential in emerging markets due to increasing healthcare awareness and improving healthcare infrastructure.
– Threats:
- Stringent regulations: The Laxatives Market is governed by strict regulations, particularly for prescription-based laxative drugs, which may restrict market growth.
- Potential adverse effects: Increasing awareness about potential side effects of laxatives may discourage their usage, impacting market growth.
D) Key Takeaways:
- The global Laxatives Market is expected to witness high growth, exhibiting a CAGR of 6.00% over the forecast period, due to the increasing prevalence of digestive disorders and the growing aging population.
- North America is expected to dominate the Laxatives Market due to the high prevalence of digestive disorders and well-developed healthcare infrastructure.
- Key players operating in the global Laxatives Market include Mylan N.V., Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd., Sanofi, Pfizer Inc., GlaxoSmithKline plc, Merck & Co., Inc., AstraZeneca, Johnson & Johnson Private Limited, Novartis AG, Hikma Pharmaceuticals PLC, Lupin, Fresenius Kabi AG, Aurobindo Pharma, Cipla Inc., Bausch Health Companies Inc., Dr. Reddy’s Laboratories Ltd., Amneal Pharmaceuticals LLC., Apotex Inc., and Eli Lilly and Company.
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
