Key regions: United States, Japan, Australia, United Kingdom, China
The Cold & Cough Remedies market in Nordics is experiencing steady growth due to various factors such as changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Nordics have shifted towards natural and herbal remedies for cold and cough. There is a growing demand for products that are perceived as more organic and less reliant on chemicals. Customers are increasingly seeking products that are free from artificial additives and have minimal side effects. This preference for natural remedies is driving the growth of the herbal and homeopathic segment in the Cold & Cough Remedies market.Trends in the market indicate a rising awareness and concern for overall health and well-being among consumers in the Nordics. People are becoming more proactive in taking preventive measures to avoid cold and cough. This has led to an increased demand for immune-boosting products such as vitamins, supplements, and herbal remedies. Additionally, there is a growing trend of self-medication, with consumers seeking over-the-counter remedies to treat their cold and cough symptoms.Local special circumstances in the Nordics also contribute to the development of the Cold & Cough Remedies market. The region experiences long and harsh winters, which make people more susceptible to cold and cough. This creates a constant demand for remedies to alleviate symptoms and provide relief. Moreover, the high prevalence of cold and flu during the winter months drives the sales of cold and cough remedies.Underlying macroeconomic factors play a significant role in shaping the Cold & Cough Remedies market in the Nordics. The region has a strong healthcare system and high disposable income, allowing consumers to afford and access a wide range of remedies. Moreover, the increasing aging population in the Nordics is driving the demand for cold and cough remedies, as older individuals are more prone to respiratory illnesses.In conclusion, the Cold & Cough Remedies market in the Nordics is growing steadily due to changing customer preferences towards natural remedies, emerging trends in preventive healthcare, local special circumstances of long winters, and underlying macroeconomic factors such as a strong healthcare system and an aging population.
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.
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