May 29, 2024
Laxatives Market

Laxatives Market Is Expected To Be Flourished By Growing Geriatric Population

The laxatives market comprises oral and rectal laxatives used to relieve constipation and facilitate bowel movements. Oral laxatives include stool softeners, bulk forming laxatives, stimulant laxatives, and osmotic laxatives. Rectal laxatives are suppositories inserted into the rectum. Over-the-counter laxatives are commonly used by adults and children to relieve occasional constipation or irregularity. Oral laxatives are also prescribed by physicians to manage bowel conditions like irritable bowel syndrome, diverticulitis, and colonoscopy preparation. The global laxatives market is estimated to be valued at US$ 3.5 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

As mentioned in the heading, the growing geriatric population is expected to flourish the laxatives market substantially during the forecast period. Elderly people aged 65 years and above are more prone to constipation and bowel disorders due to reduced physical activity, dietary and lifestyle changes, and chronic underlying medical conditions. Aging is often associated with a declining gastrointestinal motility and reduced intestinal transit. Other key market drivers include rising awareness regarding bowel health, growing preference for over-the-counter drugs to self-treat constipation, increasing healthcare expenditure, and technological advancements in formulation technologies to enhance efficacy, tolerability, and convenience of laxative products.

Segment Analysis

The global laxatives market is highly fragmented with the dominant sub-segment being osmotic laxatives which currently holds around 35% of the overall market share. Osmotic laxatives are preferred due to their effectiveness in treating constipation with minimal side effects. They work by retaining fluid in the intestines which helps soften stool and promotes bowel movements.

PEST Analysis

Political: Regulations regarding over-the-counter vs prescription drugs vary globally which impacts the sales and distribution of laxatives.
Economic: Growth in disposable incomes in developing nations is increasing healthcare spending and boosting demand for laxatives. Rise in lifestyle diseases is also propelling the market.
Social: Changing attitudes towards preventing and treating constipation promptly and regularly consuming laxatives for chronic cases is fueling market revenues.
Technological: Advanced formulations that are sugar-free, have natural ingredients and provide faster relief are gaining popularity. Focus on developing chewable/flavored options for patients.

Key Takeaways

The global Laxatives Market Growth is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis reveals that Asia Pacific currently dominates the market and is expected to maintain its leading position through 2031 owing to large populations, growing healthcare spending and rising awareness in the region.

Key players operating in the laxatives market are Bayer, Procter & Gamble, GlaxoSmithKline and Abbott. Regional analysis related content comprises Key players such as Bayer, Procter & Gamble and GlaxoSmithKline are focusing on strengthening their product portfolios in high growth emerging markets through partnerships with local players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it