Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Iran

Iran

In Iran, the revenue in the Cold & Cough Remedies market market is projected to reach US$225.00m by 2024.
It is anticipated that the market will experience an annual growth rate of 4.58% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue, amounting to US$11,190.00m in 2024.
In terms of per capita figures, each person in Iran generates revenues of US$2.51 in 2024.
Despite economic sanctions, Iran's demand for cold & cough remedies in the OTC Pharmaceuticals market continues to grow steadily.

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

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Analyst Opinion

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

Customer preferences: Iranian consumers are increasingly seeking out over-the-counter remedies for cold and cough symptoms. This shift in consumer behavior can be attributed to several factors. Firstly, there is a growing awareness among the population about the importance of self-care and taking proactive measures to manage common illnesses. As a result, many Iranians are turning to cold and cough remedies as a convenient and affordable way to alleviate their symptoms. Additionally, the rising healthcare costs and limited access to healthcare facilities in Iran have also contributed to the popularity of over-the-counter remedies. Many consumers find it more convenient and cost-effective to purchase these products from local pharmacies rather than visiting a doctor for a prescription.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Iran is the increasing demand for natural and herbal remedies. Iranian consumers are becoming more health-conscious and are seeking out products that are perceived to be safer and more natural. This trend is in line with the global shift towards natural and organic products, and it is driving the development of new cold and cough remedies that are based on traditional herbal ingredients. Manufacturers are capitalizing on this trend by introducing a wide range of natural remedies, such as herbal teas, essential oils, and herbal supplements, which are gaining popularity among Iranian consumers.Another trend in the market is the growing popularity of combination products. These products offer multiple benefits in a single dosage form, such as relieving both cold and cough symptoms. Combination products are favored by consumers who prefer convenience and simplicity. They eliminate the need to purchase multiple products and allow consumers to address multiple symptoms with a single remedy. This trend is driving the development of innovative combination products in the Cold & Cough Remedies market in Iran.

Local special circumstances: Iran has a young and growing population, which is driving the demand for cold and cough remedies. Younger consumers are more likely to experience cold and cough symptoms, and they are also more likely to seek out over-the-counter remedies. Additionally, the Iranian healthcare system is primarily focused on acute care rather than preventive care. This means that many Iranians rely on self-care and over-the-counter remedies to manage common illnesses, including cold and cough symptoms.

Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in Iran can also be attributed to several underlying macroeconomic factors. Firstly, Iran has experienced economic growth in recent years, which has led to an increase in disposable incomes. This has allowed more Iranians to afford over-the-counter remedies for cold and cough symptoms. Additionally, the expansion of the retail sector in Iran has made cold and cough remedies more accessible to consumers. The establishment of new pharmacies and the growth of e-commerce platforms have made it easier for Iranians to purchase these products. Finally, the increasing urbanization in Iran has also contributed to the growth of the market. Urban dwellers are more likely to have access to a wider range of cold and cough remedies and are more likely to seek out these products to manage their symptoms.

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.