Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Brazil has been experiencing significant growth in recent years.
Customer preferences: Brazilian consumers have shown a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This preference can be attributed to several factors. Firstly, pharmacies in Brazil are widely accessible, with a large number of outlets spread across the country. This makes it convenient for consumers to purchase remedies for their cold and cough symptoms. Additionally, the availability of a wide range of products in pharmacies allows consumers to choose the remedies that best suit their needs. Finally, the affordability of over-the-counter remedies compared to prescription medications makes them an attractive option for consumers.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Brazil is the increasing demand for natural and herbal remedies. Brazilian consumers are becoming more conscious of the potential side effects of traditional pharmaceutical products and are seeking natural alternatives. This trend is driven by a growing awareness of the benefits of natural ingredients and a desire for more holistic approaches to healthcare. As a result, pharmacies in Brazil are expanding their offerings to include a wider range of natural and herbal remedies to cater to this demand. Another trend in the market is the rising popularity of combination remedies. These products offer multiple benefits in a single dosage, such as relieving both cold and cough symptoms. Combination remedies are favored by consumers as they provide convenience and cost savings compared to purchasing multiple individual remedies. Pharmacies in Brazil are responding to this trend by stocking a variety of combination remedies to meet the needs of their customers.
Local special circumstances: Brazil has a tropical climate, which makes it prone to the spread of respiratory illnesses such as colds and coughs. The high humidity and temperature create favorable conditions for the growth and transmission of viruses that cause these illnesses. This unique climate contributes to the high demand for cold and cough remedies in Brazil. Additionally, Brazil has a large population, which further drives the demand for cold and cough remedies. The country's population of over 200 million people provides a large consumer base for pharmacies to cater to.
Underlying macroeconomic factors: The growing middle class in Brazil has led to increased disposable income and improved access to healthcare. This has resulted in higher healthcare spending, including the purchase of cold and cough remedies. The improving economic conditions in Brazil have also led to increased consumer confidence, encouraging more people to seek remedies for their cold and cough symptoms. Furthermore, Brazil's aging population is another factor driving the growth of the Cold & Cough Remedies (Pharmacies) market. As the population ages, the incidence of cold and cough symptoms increases, leading to higher demand for remedies. Pharmacies in Brazil are capitalizing on this trend by offering a range of products targeted at the elderly population. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Brazil is experiencing growth due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, and the popularity of combination remedies. The unique climate and large population in Brazil, coupled with the improving economic conditions and aging population, are the underlying macroeconomic factors driving the market's development.
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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