Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Burundi has been experiencing significant growth in recent years.
Customer preferences: Burundi, like many other countries, has seen an increasing demand for cold and cough remedies. This can be attributed to several factors, including the rise in respiratory illnesses and the desire for quick relief from symptoms. Customers in Burundi are increasingly looking for over-the-counter remedies that can provide immediate relief from cold and cough symptoms. They prefer products that are easily accessible in pharmacies and do not require a prescription.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Burundi is the growing popularity of natural and herbal remedies. Customers are becoming more health-conscious and are seeking out products that are perceived to be safer and have fewer side effects. This has led to an increase in the demand for herbal cough syrups and natural cold remedies. Additionally, there has been a shift towards combination products that offer relief from multiple symptoms, such as congestion, cough, and sore throat. Another trend in the market is the increasing availability of generic cold and cough remedies. Generic products are often more affordable than branded ones, making them a popular choice among price-sensitive customers. Pharmacies in Burundi are stocking a wide range of generic cold and cough remedies to cater to this demand.
Local special circumstances: Burundi is a low-income country with a significant portion of the population living in rural areas. This has implications for the Cold & Cough Remedies market, as access to healthcare facilities and pharmacies may be limited in these areas. As a result, customers in rural areas may rely more on traditional remedies or home remedies for cold and cough relief.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in Burundi can be attributed to several underlying macroeconomic factors. Firstly, the country has been experiencing steady economic growth in recent years, which has led to an increase in disposable income. As a result, customers have more money to spend on healthcare products, including cold and cough remedies. Secondly, the government of Burundi has been investing in the healthcare sector, with a focus on improving access to healthcare services and medicines. This has contributed to the growth of the Cold & Cough Remedies market, as more customers are able to access pharmacies and purchase the necessary remedies. In conclusion, the Cold & Cough Remedies market in Burundi is developing due to customer preferences for accessible and effective remedies, the increasing popularity of natural and herbal products, the availability of generic remedies, and the underlying macroeconomic factors of economic growth and government investment in healthcare. The market is also influenced by local special circumstances, such as limited access to healthcare facilities in rural areas.
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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