Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in G20 is experiencing significant growth and development due to several factors. Customer preferences for over-the-counter medications, increasing healthcare awareness, and changing lifestyles are driving the demand for cold and cough remedies in the market. Additionally, local special circumstances and underlying macroeconomic factors are also contributing to the market's growth.
Customer preferences: Customers in the G20 countries have shown a strong preference for over-the-counter medications for treating cold and cough symptoms. This preference can be attributed to the convenience and accessibility of these remedies, as they can be easily purchased at pharmacies without a prescription. Moreover, customers prefer self-medication for common ailments like cold and cough, which further boosts the demand for over-the-counter remedies.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in G20 is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients used in the products they consume and are opting for natural alternatives. This trend is driven by the rising awareness about the potential side effects of synthetic drugs and the desire for more sustainable and eco-friendly options. Another trend in the market is the growing popularity of combination remedies. Customers are looking for products that offer multiple benefits and address multiple symptoms at once. Combination remedies that provide relief from both cold and cough symptoms are gaining traction in the market.
Local special circumstances: In each G20 country, there are specific local circumstances that contribute to the development of the Cold & Cough Remedies (Pharmacies) market. For example, in countries with high pollution levels, such as China and India, the prevalence of respiratory illnesses is higher, leading to increased demand for cold and cough remedies. Similarly, countries with colder climates, like Russia and Canada, experience higher incidences of cold and cough, driving the market growth.
Underlying macroeconomic factors: The overall growth of the Cold & Cough Remedies (Pharmacies) market in G20 is also influenced by underlying macroeconomic factors. Factors such as rising disposable incomes, increasing urbanization, and expanding middle-class population contribute to the market's growth. As people have more purchasing power, they are willing to spend on healthcare and wellness products, including cold and cough remedies. Additionally, the growing healthcare infrastructure and access to pharmacies in G20 countries also play a significant role in the market's development. The presence of a well-established network of pharmacies ensures easy availability of cold and cough remedies, further driving the market growth. In conclusion, the Cold & Cough Remedies (Pharmacies) market in G20 is witnessing growth and development due to customer preferences for over-the-counter medications, increasing healthcare awareness, and changing lifestyles. The market is also influenced by local special circumstances, such as pollution levels and climate, and underlying macroeconomic factors, including rising disposable incomes and healthcare infrastructure. As these factors continue to evolve, the market is expected to further expand in the coming years.
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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