In 2020 overall, digestive remedies is expected to see much slower current value growth than in 2019. The category is likely to be affected by the increased economic fallout as a result of the COVID-19 pandemic with household incomes decreasing and thus spending less on OTC drugs, including digestive remedies.
OTC generics generally face continued difficulties in terms of encouraging consumers to purchase them instead of well-known brands. Consumers still perceive generics to be less effective than the branded options, despite pharmacists advising that they are essentially the same products.
Saidal Algerie SpA remains the leading player in digestive remedies in Algeria in 2020 and saw a value share increase. The state-owned company benefits from large amounts of funds available for the consistent improvement of its production processes and increases in production capacities.
After slower retail value growth in 2020, digestive remedies is expected to return to stronger growth in 2021, with a small constant value growth rate expected until 2024, followed by marginal decline. The slow retail value growth in 2020 is mainly expected to be due to the economic downturn from the COVID-19 pandemic as consumers increasingly buy generic drugs as well as Algerians eating more balanced, nutritious meals and therefore needing digestive remedies less.
The digestive remedies category saw continued growth in 2020, and this is expected to continue, with positive growth expected over the forecast period. This will be the result of the economy recovering somewhat as well as greater consumer awareness of the availability of these products, coupled with increasing levels of domestic production.
The Algerian government regularly announces increases in domestic production volumes of OTC medicines, which generated 47% of sales in 2019, and has plans to meet 70% of local demand with domestic production by 2022. As a result, local manufacturers of digestive remedies are expected to increase production capacity in response to rising demand and ongoing growth in sales of digestive remedies.
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Understand the latest market trends and future growth opportunities for the Digestive Remedies industry in Algeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Digestive Remedies industry in Algeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Digestive Remedies research and analysis database.
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