Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Southern Asia

Southern Asia

In Southern Asia, the revenue generated in the Cold & Cough Remedies market market in 2024 is US$1.98bn.
It is projected to experience an annual growth rate of 10.01% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States leads the market with a revenue of US$11,190.00m in 2024.
In terms of per capita income, each person in Southern Asia generates a revenue of US$1.03 in 2024.
In Southern Asia, the demand for traditional herbal remedies for cold and cough is on the rise, reflecting a preference for natural solutions in the region.

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

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Analyst Opinion

The Cold & Cough Remedies market in Southern Asia has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Southern Asia region have shifted towards natural and herbal remedies, as consumers become more health-conscious and seek alternatives to traditional pharmaceutical products. This trend is influenced by global market developments, as consumers worldwide increasingly prioritize natural and organic products. As a result, there has been a surge in demand for Ayurvedic and traditional remedies, which are perceived as safer and more holistic.Trends in the Cold & Cough Remedies market in Southern Asia reflect the region's diverse cultural and economic landscape. In countries like India and Sri Lanka, where Ayurveda has a strong presence, there is a growing market for herbal cold and cough remedies. These products often incorporate traditional ingredients such as ginger, turmeric, and honey, which are believed to have medicinal properties. Additionally, there is a rising demand for immune-boosting supplements and vitamins, as consumers seek to strengthen their immune systems to prevent illness.Local special circumstances also contribute to the development of the Cold & Cough Remedies market in Southern Asia. The region is prone to seasonal changes, with monsoon seasons and high humidity levels, which can lead to an increase in respiratory illnesses. This creates a need for effective remedies to alleviate cold and cough symptoms, driving the demand for over-the-counter products. Furthermore, Southern Asia has a large population, providing a significant consumer base for the market.Underlying macroeconomic factors play a crucial role in shaping the Cold & Cough Remedies market in Southern Asia. Economic growth and rising disposable incomes have enabled more consumers to afford healthcare products, including cold and cough remedies. Additionally, the increasing prevalence of urbanization and changing lifestyles have led to higher stress levels and exposure to pollution, contributing to the demand for remedies to combat respiratory issues.In conclusion, the Cold & Cough Remedies market in Southern Asia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards natural and herbal remedies, the demand for immune-boosting supplements, and the need for effective solutions in a region prone to respiratory illnesses are driving the market's development. As the region continues to evolve, it is expected that the market for cold and cough remedies will continue to expand.

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.