Articles
The Rise Of Probiotics
February 22, 2010
•Article: The Rise Of Probiotics
While originally regarded strictly as a specialty market, probiotic supplements are now mainstream. According to LexisNexis, 231 probiotic products were launched in 2008, compared with 34 just three years prior; 75 percent of women report being interested in a digestive system ‘makeover'. Distinguished medical journals confirm the industry's credibility by publishing an increasing number of clinical trials with the popularity of probiotics being measured by the $43M drugstore sales in 2008. Notably, probiotics are characterized as "the vital healthcare concept of the 21st century," in Probiotics – A Global Update of Market Trends & Opportunities.
Reputation and R&D are key to the competitive advantage. The elements that bring success to leading nutraceutical and pharmaceutical companies – global reputations, sophisticated research and development, and savvy marketing – position them to excel in the consumer healthcare industry and awareness of probiotics has grown exponentially in the past decade. Some estimates indicate, for example, that nearly half of Americans know of probiotics. Yet a significantly smaller percentage understands their benefits. This disparity between awareness and understanding gives the top nutraceutical and pharmaceutical companies an advantage – consumers associate perceived benefits with the companies whose name they recognize and reputation they trust.
Reprinted with permission from NGP US
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