Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Australia is witnessing significant growth and development.
Customer preferences: Customers in Australia are increasingly seeking over-the-counter remedies for cold and cough symptoms. They prefer convenient and easily accessible options, such as purchasing these remedies from local pharmacies. This preference is driven by the desire for quick relief from symptoms and the convenience of obtaining medication without a prescription.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Australia is the growing demand for natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are opting for remedies that are perceived as more natural and less likely to have side effects. This trend is driving the development of new products and formulations that cater to this demand. Another trend in the market is the increasing availability of combination products that offer relief from multiple symptoms. These products combine ingredients that target different symptoms, providing a more comprehensive solution for cold and cough sufferers. The convenience and effectiveness of these combination products are driving their popularity among consumers.
Local special circumstances: Australia experiences seasonal variations in cold and flu outbreaks, with the winter months being the peak season for these illnesses. This seasonal pattern creates a higher demand for cold and cough remedies during these months, as consumers seek relief from symptoms. Pharmacies in Australia are well aware of this trend and stock up on cold and cough remedies to meet the increased demand during the winter season.
Underlying macroeconomic factors: The growing population and increasing urbanization in Australia are contributing to the development of the Cold & Cough Remedies (Pharmacies) market. As more people move to cities, the demand for convenient healthcare options, such as pharmacies, is on the rise. This, coupled with the increasing awareness and concern for personal health, is driving the growth of the market. Additionally, the rising disposable income levels in Australia are enabling consumers to spend more on healthcare products, including cold and cough remedies. As people have more financial resources, they are more willing to invest in their health and well-being, leading to increased sales of these remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Australia is developing due to customer preferences for over-the-counter remedies, the trend towards natural and combination products, the seasonal demand for these remedies, and the underlying macroeconomic factors of population growth, urbanization, and rising disposable incomes.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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