Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in EU-27 is experiencing steady growth due to changing customer preferences and underlying macroeconomic factors.
Customer preferences: Customers in the EU-27 are increasingly turning to pharmacies for their cold and cough remedies. This is because pharmacies offer a wide range of over-the-counter medications that are easily accessible to consumers. Additionally, pharmacies often have knowledgeable staff who can provide advice and recommendations on the best remedies for specific symptoms.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in the EU-27 is the growing 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 medications. As a result, pharmacies are expanding their offerings to include a variety of natural and herbal remedies, such as herbal teas, essential oils, and homeopathic treatments. Another trend in the market is the increasing popularity of online pharmacies. Customers are now able to conveniently purchase cold and cough remedies from the comfort of their own homes. Online pharmacies offer a wide selection of products and often provide discounts and promotions, making them an attractive option for price-conscious consumers.
Local special circumstances: In certain countries within the EU-27, there are specific local circumstances that are influencing the Cold & Cough Remedies (Pharmacies) market. For example, in countries with colder climates, such as Sweden and Finland, there is a higher demand for cold and cough remedies due to the prevalence of respiratory illnesses. In these countries, pharmacies may need to stock a larger variety of products to cater to the specific needs of their customers.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in the EU-27 can also be attributed to underlying macroeconomic factors. The increasing prevalence of cold and cough illnesses, coupled with rising healthcare costs, has led many consumers to seek self-care options. Purchasing over-the-counter remedies from pharmacies is often more affordable than visiting a doctor or hospital, making it an attractive option for cost-conscious consumers. Additionally, the aging population in the EU-27 is driving the demand for cold and cough remedies. As individuals age, their immune systems weaken, making them more susceptible to respiratory illnesses. This has created a larger customer base for pharmacies, as older individuals often rely on over-the-counter remedies to manage their symptoms. In conclusion, the Cold & Cough Remedies (Pharmacies) market in the EU-27 is experiencing growth due to changing customer preferences, such as the demand for natural and herbal remedies, and the convenience of online pharmacies. Local special circumstances, such as climate, also play a role in shaping the market. Furthermore, underlying macroeconomic factors, such as rising healthcare costs and an aging population, contribute to the steady growth of the 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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