Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Europe is experiencing steady growth due to increasing customer preferences for over-the-counter remedies, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Europe have shown a growing preference for over-the-counter cold and cough remedies available in pharmacies. This shift can be attributed to the convenience and accessibility of these products, as customers can easily purchase them without a prescription. Additionally, customers are increasingly seeking remedies that provide quick relief from symptoms such as congestion, cough, and sore throat. As a result, pharmacies are expanding their product offerings to cater to these preferences, leading to a rise in the demand for cold and cough remedies.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Europe is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are opting for remedies that are perceived to be more natural and less likely to cause side effects. This trend has led to the introduction of a wide range of herbal and natural remedies in pharmacies across Europe. Furthermore, there is a growing trend of combining multiple active ingredients in a single product to provide comprehensive relief from cold and cough symptoms. This innovation in product formulation is driving the growth of the market.
Local special circumstances: Each country in Europe has its own unique set of circumstances that influence the Cold & Cough Remedies market. For example, in countries with colder climates, such as Scandinavia and Eastern Europe, there is a higher incidence of cold and cough infections, leading to a higher demand for remedies. Additionally, countries with higher population densities and urbanization rates tend to have a greater concentration of pharmacies, making it easier for customers to access cold and cough remedies. Moreover, cultural factors also play a role in shaping customer preferences. For instance, countries with a strong tradition of herbal medicine, such as Germany and France, have a higher demand for natural remedies.
Underlying macroeconomic factors: The Cold & Cough Remedies market in Europe is influenced by several macroeconomic factors. One such factor is the aging population in many European countries. As people age, they are more prone to respiratory infections and are likely to seek remedies to alleviate their symptoms. This demographic trend is driving the demand for cold and cough remedies. Additionally, the overall economic growth and disposable income levels in Europe play a significant role in the market's development. When the economy is thriving, customers have more purchasing power and are more likely to spend on healthcare products, including cold and cough remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Europe is growing due to customer preferences for over-the-counter remedies, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for natural and herbal remedies, the innovation in product formulation, and the influence of aging population and economic growth are driving the development 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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