Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Croatia

Croatia

In Croatia, the revenue in the Cold & Cough Remedies market market is projected to reach US$42.55m by the year 2024.
The market is anticipated to experience an annual growth rate of 5.86% (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.
In terms of per person revenues, in Croatia generates US$10.67 in 2024.
The Croatian market for cold and cough remedies is experiencing a surge in demand due to the prevalence of respiratory illnesses during the winter months.

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

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Analyst Opinion

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

Customer preferences: Customers in Croatia have shown a growing preference for over-the-counter cold and cough remedies. This can be attributed to several factors, including convenience, affordability, and the desire for self-care. With busy lifestyles and limited access to healthcare professionals, many consumers are opting for self-medication options to treat common cold and cough symptoms. Additionally, the rising cost of healthcare services has made over-the-counter remedies a more cost-effective solution for many individuals.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Croatia is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious about the ingredients they put into their bodies and are seeking products that are perceived as more natural and less chemically-based. This trend is driven by the growing awareness of the potential side effects of synthetic medications and the desire for more holistic approaches to healthcare.Another trend in the market is the rising popularity of combination products. These are cold and cough remedies that offer multiple benefits, such as relieving congestion, soothing sore throat, and reducing cough. Combination products provide convenience to consumers by addressing multiple symptoms with a single product. This trend is driven by the desire for simplicity and efficiency in treating cold and cough symptoms.

Local special circumstances: Croatia is a country with a high prevalence of respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD). This has contributed to the increased demand for cold and cough remedies in the market. The country's climate, with cold winters and high humidity, can also contribute to the spread of respiratory infections, leading to a higher demand for remedies to alleviate cold and cough symptoms.

Underlying macroeconomic factors: The steady growth of the Cold & Cough Remedies market in Croatia can be attributed to several macroeconomic factors. The country has experienced stable economic growth in recent years, which has increased disposable income levels and consumer spending power. This has allowed consumers to allocate a larger portion of their budget towards healthcare and self-care products, including cold and cough remedies.Furthermore, the aging population in Croatia has also contributed to the growth of the market. As individuals age, they are more susceptible to respiratory infections and other health issues, leading to a higher demand for cold and cough remedies. The increasing life expectancy in Croatia has resulted in a larger population of older adults, driving the demand for these products.In conclusion, the Cold & Cough Remedies market in Croatia is experiencing steady growth due to customer preferences for over-the-counter remedies, the trend towards natural and herbal products, and the rising popularity of combination products. The country's high prevalence of respiratory diseases, along with its climate, also contribute to the demand for these remedies. The stable economic growth and aging population in Croatia are underlying macroeconomic factors that further drive the market's development.

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.