Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Finland is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Finland, customers have a strong preference for over-the-counter cold and cough remedies that can be easily purchased from pharmacies. This preference is driven by the convenience and accessibility of these remedies, as well as the trust that customers have in the quality and effectiveness of products sold in pharmacies. Customers also value the advice and recommendations provided by pharmacists, which further reinforces their preference for purchasing cold and cough remedies from pharmacies.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Finland is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume 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 use of synthetic chemicals. As a result, pharmacies in Finland are expanding their product offerings to include a wider range of natural and herbal cold and cough remedies to cater to this demand. Another trend in the market is the rising popularity of online pharmacies. Customers are increasingly turning to online platforms to purchase cold and cough remedies due to the convenience and competitive pricing offered by these platforms. Online pharmacies also provide customers with a wider selection of products and the ability to compare prices and read reviews before making a purchase. This trend is reshaping the traditional retail landscape and challenging brick-and-mortar pharmacies to adapt and enhance their online presence.
Local special circumstances: Finland's cold and harsh climate creates a higher demand for cold and cough remedies compared to countries with milder climates. The long and cold winters in Finland often lead to an increase in respiratory illnesses, such as the common cold and flu. As a result, customers in Finland are more likely to seek out cold and cough remedies to alleviate their symptoms and recover quickly. This local special circumstance contributes to the consistent demand for cold and cough remedies in the Finnish market.
Underlying macroeconomic factors: The overall economic stability and high disposable income levels in Finland contribute to the growth of the Cold & Cough Remedies (Pharmacies) market. Customers in Finland have the financial means to purchase cold and cough remedies, and they prioritize their health and well-being. Additionally, Finland has a well-developed healthcare system that provides affordable and accessible healthcare services, including pharmaceutical products. This enables customers to easily access and afford cold and cough remedies, further driving the market growth. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Finland is developing due to customer preferences for over-the-counter remedies, trends such as the demand for natural and herbal products and the rise of online pharmacies, local special circumstances related to the country's climate, and underlying macroeconomic factors such as economic stability and high disposable income levels.
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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