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The global sennosides market is witnessing significant growth owing to the increasing prevalence of constipation among the general population, resulting in a rising focus of the key players toward R&D activities to launch novel products in the market. Sennosides refer to the medications, which are made up of senna, a laxative of plant origin that contains the anthraquinone glucosides sennoside A and sennoside B, used to treat constipation.
Increasing Prevalence of Constipation to Drive Market Growth
The increasing prevalence of constipation, especially among key demographic groups such as pregnant women, is resulting in a rising demand for drugs to relieve constipation among the patients. This, along with the growing number of key players operating in the market, is focusing on the development and introduction of these products in the market.
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According to statistics published by the Organisation for Economic Co-operation and Development (OECD), the R&D expenditure was USD 92.20 billion in the U.S., USD 12.70 billion in Japan, USD 21.20 billion in Europe, and USD 2.80 billion in other countries.
Limited Awareness in Emerging Countries to Hinder Market Growth
There is a growing demand for novel products for the treatment of constipation among the general population. However, limited awareness about the benefits of nutraceutical products such as sennosides among the general population is hampering the growth of the market globally.
Growing Preference for Herbal Supplements to Provide Future Market Growth Opportunities
There is a growing preference toward herbal supplements owing to the benefits such as fewer side effects, improved health, among others, resulting in the rising adoption rate for these products, such as sennosides, in the market. Increasing demand is shifting the focus of key players toward the development and introduction of these products in the market.
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The report covers the following key insights:
By dosage form, the market is segmented into tablets, liquid, and others.
The tablets segment held a prominent market share in 2023. The growing benefits of tablets, such as high physiological and chemical stability, ease of administration, among others, are resulting in a rising focus of major players towards R&D activities to launch sennosides, which is further expected to support the segmental growth.
In terms of the distribution channel, the market is fragmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The retail pharmacies segment accounted for a substantial proportion of the market in 2023. The growth is due to the increasing number of retail pharmacies, further supporting the growing adoption rate for sennosides globally.
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Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest share of the global sennosides market in 2023. The growth is due to several factors, including the growing prevalence of constipation, increasing per capita healthcare expenditure, increasing acquisitions and mergers, among others.
Additionally, Europe is the second-largest market for sennosides. The rising geriatric population is resulting in the growing prevalence of constipation, which is further contributing to the demand for novel sennosides products in the market. This, along with the growing focus of key players toward R&D activities to launch novel sennosides products, is likely to support the growth of the market.
On the other hand, Asia Pacific is also expected to grow at a considerable CAGR during the forecast period. The growth is due to the growing number of prominent players operating in the market offering innovative sennosides products in the market.
The global sennosides market is semi-consolidated, with few players operating in the global sennosides market. The report includes the profiles of the following key players:
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