Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Canada

Canada

In 2024, the revenue in the Cold & Cough Remedies market market in Canada amounts to US$0.58bn.
It is projected to experience an annual growth rate of 4.71% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, reaching US$11,190.00m in 2024.
In terms of per person revenues, in Canada generates US$14.76 per person in 2024.
In Canada, there is a growing trend towards natural and herbal cold and cough remedies in the OTC Pharmaceuticals market.

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

Market

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Region comparison

Currency

Analyst Opinion

The Cold & Cough Remedies market in Canada has been experiencing steady growth in recent years.

Customer preferences: Customers in Canada have shown a strong preference for over-the-counter cold and cough remedies. This can be attributed to several factors, including convenience, cost-effectiveness, and the ability to self-diagnose and treat minor illnesses. Additionally, many Canadians prefer natural and herbal remedies, leading to an increased demand for products that are perceived as more natural and less chemically-based.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Canada is the increasing demand for multi-symptom relief products. As consumers seek more convenient and efficient solutions to their cold and cough symptoms, they are turning to products that can address multiple symptoms at once. This trend is driven by the desire for quick relief and the need to minimize the number of products consumed.Another trend in the market is the growing popularity of immune-boosting products. With an increased focus on overall health and wellness, consumers are looking for products that can help support their immune system and prevent illness. This trend is particularly evident during the cold and flu season when consumers are actively seeking ways to stay healthy and avoid getting sick.

Local special circumstances: Canada's cold climate and long winters contribute to a higher incidence of cold and cough illnesses, leading to a higher demand for cold and cough remedies. The country's vast geography and diverse population also play a role in shaping the market. Different regions may have unique preferences and needs when it comes to cold and cough remedies, requiring companies to adapt their product offerings accordingly.

Underlying macroeconomic factors: The growing aging population in Canada is a significant driver of the Cold & Cough Remedies market. As the population ages, there is an increased likelihood of experiencing cold and cough symptoms, leading to a higher demand for remedies. Additionally, rising healthcare costs and the increasing burden on the healthcare system have resulted in more individuals seeking self-care solutions for minor illnesses, further driving the demand for over-the-counter remedies.In conclusion, the Cold & Cough Remedies market in Canada is experiencing steady growth due to customer preferences for over-the-counter products, the demand for multi-symptom relief, and the popularity of immune-boosting products. The country's cold climate and diverse population also contribute to the market's development. Furthermore, underlying macroeconomic factors, such as the aging population and rising healthcare costs, play a significant role in driving the market's growth.

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.