Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Central & Western Europe is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Central & Western Europe have a strong preference for over-the-counter cold and cough remedies that are easily accessible in pharmacies. They value convenience and trust in the quality of the products offered in these establishments. This preference for pharmacy-based remedies is driven by the belief that pharmacists can provide expert advice and recommendations. Additionally, customers in this region tend to prioritize natural and herbal remedies, seeking products with fewer side effects.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Central & Western Europe is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing interest in holistic health and wellness, as well as a desire to minimize the potential side effects associated with certain medications. Another trend in the market is the rising popularity of combination products. Customers are looking for cold and cough remedies that offer multiple benefits, such as relieving congestion, reducing cough, and soothing sore throats. Combination products that address multiple symptoms in a single dose are seen as more convenient and cost-effective.
Local special circumstances: Central & Western Europe is known for its well-developed healthcare systems and high standards of pharmaceutical regulation. This creates a favorable environment for the Cold & Cough Remedies (Pharmacies) market, as customers have confidence in the safety and efficacy of the products available in pharmacies. The presence of trained pharmacists who can provide expert advice and recommendations further enhances the appeal of pharmacy-based remedies.
Underlying macroeconomic factors: The Cold & Cough Remedies (Pharmacies) market in Central & Western Europe is also influenced by underlying macroeconomic factors. The region has a stable and relatively affluent population, which enables customers to afford over-the-counter remedies. Additionally, the high incidence of cold and cough during the winter months contributes to the demand for these products. As a result, the market experiences seasonal fluctuations, with peak demand occurring during the colder months. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Central & Western Europe is driven by customer preferences for convenient and trusted pharmacy-based remedies, as well as trends towards natural and herbal products. The region's well-developed healthcare systems, high pharmaceutical standards, and stable macroeconomic conditions further support the growth of this market.
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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