Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Germany

Germany

In Germany, the revenue in the Cold & Cough Remedies market market is estimated to reach US$2.06bn by 2024.
It is projected to grow at an annual rate of 4.77% between 2024 and 2029 (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, amounting to US$11,190.00m in 2024.
Taking into account the country's population, the per person revenue in Germany is approximately US$24.76 in 2024.
Germany's cold & cough remedies market is driven by a strong demand for natural and herbal products.

Key regions: United States, Japan, Australia, United Kingdom, China

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Analyst Opinion

The Cold & Cough Remedies market in Germany has been experiencing significant growth in recent years.

Customer preferences: Customers in Germany have been increasingly seeking out Cold & Cough Remedies products to alleviate their symptoms. This can be attributed to the rising awareness about the importance of maintaining good health and the desire to find quick and effective solutions for common cold and cough. Additionally, the convenience of over-the-counter remedies has also contributed to the growing demand.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Germany is the shift towards natural and herbal remedies. Consumers are becoming more conscious about the ingredients in the products they use and are opting for natural alternatives that are perceived to be safer and have fewer side effects. This trend is in line with the global movement towards natural and organic products.Another trend in the market is the increasing availability of Cold & Cough Remedies products through online channels. E-commerce platforms have gained popularity among consumers due to the convenience of shopping from home and the wide range of products available. This has opened up new opportunities for both local and international brands to reach a larger customer base.

Local special circumstances: Germany has a well-established healthcare system and a high level of health consciousness among its population. This has created a favorable environment for the growth of the Cold & Cough Remedies market. Additionally, the country has a large aging population, which is more susceptible to cold and cough-related illnesses. This demographic factor has further contributed to the demand for Cold & Cough Remedies products.

Underlying macroeconomic factors: The German economy has been relatively stable in recent years, with a strong focus on healthcare and wellness. This has led to increased spending on healthcare products, including Cold & Cough Remedies. Furthermore, the government has implemented policies to promote the use of preventive healthcare measures, which has also had a positive impact on the market.In conclusion, the Cold & Cough Remedies market in Germany is experiencing growth due to customer preferences for quick and effective solutions, the trend towards natural and herbal remedies, the availability of products through online channels, the country's well-established healthcare system, and the underlying macroeconomic factors. This presents opportunities for both local and international brands to cater to the growing demand in the market.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.