Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Ethiopia

Ethiopia

The revenue generated in the Cold & Cough Remedies market market in Ethiopia amounts to US$83.50m in 2024.
It is projected that the market will experience an annual growth rate of 12.13% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with US$11,190.00m in 2024.
In terms of per person revenues, in Ethiopia generates US$0.64 in 2024.
In Ethiopia, the demand for traditional herbal remedies for cold and cough is on the rise, reflecting the country's rich cultural heritage and preference for natural remedies.

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

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Analyst Opinion

The Cold & Cough Remedies market in Ethiopia has experienced significant growth in recent years, driven by several factors including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in Ethiopia have shifted towards a greater focus on health and wellness, leading to an increased demand for cold and cough remedies. As consumers become more health-conscious, they are seeking out products that can help alleviate symptoms and provide relief from common cold and cough ailments. This has created a growing market for over-the-counter remedies such as cough syrups, lozenges, and nasal sprays.Trends in the market also contribute to the development of the Cold & Cough Remedies market in Ethiopia. One notable trend is the increasing availability and accessibility of these products in various retail outlets, including pharmacies, supermarkets, and convenience stores. This expansion of distribution channels has made it easier for consumers to purchase cold and cough remedies, further driving market growth.Local special circumstances in Ethiopia, such as the prevalence of respiratory infections and the changing climate, also play a role in the development of the Cold & Cough Remedies market. Ethiopia experiences a high incidence of respiratory infections, particularly during the colder months, which creates a consistent demand for cold and cough remedies. Additionally, the changing climate in certain regions of Ethiopia, with colder temperatures and higher humidity, can contribute to the spread of respiratory illnesses and increase the need for remedies.Underlying macroeconomic factors also contribute to the growth of the Cold & Cough Remedies market in Ethiopia. The country's improving economy and rising disposable incomes have allowed consumers to spend more on healthcare products, including cold and cough remedies. As people have more money to allocate towards their health and well-being, they are more likely to invest in products that can help them manage common cold and cough symptoms.In conclusion, the Cold & Cough Remedies market in Ethiopia is developing due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers prioritize their health and wellness, the demand for cold and cough remedies continues to grow. With increased availability, changing climate conditions, and improving economic conditions, the market is expected to further expand in the coming years.

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.