Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Indonesia

Indonesia

In Indonesia, the revenue in the Cold & Cough Remedies market market is projected to reach US$0.66bn in 2024.
It is anticipated that the market will experience an annual growth rate of 8.88% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States leads the market with revenue of US$11,190.00m in 2024.
In terms of per capita income, each person in Indonesia is estimated to generate revenues of US$2.35 in 2024.
The demand for herbal remedies in Indonesia's Cold & Cough Remedies market is driven by the country's rich traditional medicine heritage.

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

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Analyst Opinion

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

Customer preferences: Indonesian consumers have shown a growing preference for over-the-counter cold and cough remedies. This can be attributed to the convenience and accessibility of these products, as well as the increasing awareness of the importance of self-care and preventive measures. Additionally, the affordability of these remedies compared to prescription medications has made them a popular choice among consumers.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Indonesia is the shift towards natural and herbal remedies. Consumers are becoming more health-conscious and are seeking products that are perceived to be safer and more natural. This trend is driven by the global movement towards natural and organic products, as well as the traditional Indonesian belief in the healing properties of herbs and natural ingredients.Another trend in the market is the increasing demand for combination remedies. Consumers are looking for products that can provide relief for multiple symptoms, such as cough, congestion, and sore throat, in a single dose. This trend is driven by the desire for convenience and efficiency, as well as the effectiveness of combination remedies in providing comprehensive relief.

Local special circumstances: Indonesia is a country with a high prevalence of respiratory illnesses, such as colds and coughs. The tropical climate and high population density contribute to the spread of these illnesses. As a result, there is a constant demand for cold and cough remedies in the country. Additionally, Indonesia has a large young population, who are more susceptible to respiratory illnesses due to their weaker immune systems. This demographic factor further drives the demand for cold and cough remedies.

Underlying macroeconomic factors: The growing middle class in Indonesia has contributed to the growth of the Cold & Cough Remedies market. As disposable incomes rise, consumers are able to afford healthcare products and are willing to spend on preventive measures and self-care. Additionally, the increasing urbanization in the country has led to changes in lifestyle and dietary habits, which can contribute to the prevalence of respiratory illnesses and the demand for cold and cough remedies.In conclusion, the Cold & Cough Remedies market in Indonesia is developing due to customer preferences for over-the-counter remedies, the trend towards natural and herbal products, the demand for combination remedies, the high prevalence of respiratory illnesses, and the growing middle class and urbanization in the country.

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.