Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the revenue generated in the Cold & Cough Remedies market market in 2024 amounts to US$115.00m.
It is projected that the market will experience an annual growth rate of 3.94% (CAGR 2024-2029).
When compared to other countries around Worldwide, the in the United States generates the highest revenue in this market, with US$11,190.00m in 2024.
In terms of per capita figures, each person in Saudi Arabia generates revenues of US$3.07 in 2024.
Saudi Arabia's growing middle class and increasing urbanization are driving the demand for cold and cough remedies in the OTC Pharmaceuticals market.

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

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Analyst Opinion

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

Customer preferences: Saudi Arabia has a high prevalence of respiratory diseases, including colds and coughs, due to factors such as extreme weather conditions and air pollution. As a result, there is a strong demand for cold and cough remedies in the country. Customers in Saudi Arabia prefer over-the-counter (OTC) medications for the treatment of cold and cough symptoms, as they are easily accessible and do not require a prescription. Additionally, there is a growing preference for natural and herbal remedies among Saudi consumers, who are increasingly seeking products that are perceived as safer and more effective.

Trends in the market: One major trend in the Cold & Cough Remedies market in Saudi Arabia is the increasing availability and popularity of combination products. These products offer multiple active ingredients that target different symptoms of cold and cough, providing convenience and effectiveness to consumers. Combination products are particularly appealing to busy individuals who want quick relief from their symptoms. Another trend is the rising demand for pediatric cold and cough remedies, as parents are becoming more conscious about the health and well-being of their children. This has led to the development of specialized products that are specifically formulated for children, taking into consideration their unique needs and preferences.

Local special circumstances: Saudi Arabia has a young population, with a significant portion being under the age of 30. This demographic factor has contributed to the growth of the Cold & Cough Remedies market, as younger individuals are more prone to respiratory illnesses and are more likely to seek remedies for their symptoms. Additionally, the Saudi government has been actively promoting healthcare awareness and education, which has resulted in increased knowledge and understanding of cold and cough remedies among the population. This has further fueled the demand for these products.

Underlying macroeconomic factors: The Cold & Cough Remedies market in Saudi Arabia is influenced by several macroeconomic factors. The country has been experiencing steady economic growth, which has led to increased disposable income and purchasing power among consumers. This has translated into higher spending on healthcare products, including cold and cough remedies. Additionally, the government's focus on healthcare infrastructure development and the provision of affordable healthcare services has contributed to the growth of the market. The expansion of retail channels, such as pharmacies and online platforms, has also made cold and cough remedies more accessible to consumers, further driving market growth.

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.