Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Indonesia is experiencing significant growth and development.
Customer preferences: Customers in Indonesia have shown a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This preference can be attributed to several factors. Firstly, Indonesians often rely on self-medication for minor ailments such as colds and coughs, and pharmacies provide convenient access to a wide range of remedies. Secondly, there is a cultural belief in the effectiveness of traditional herbal remedies, and many pharmacies in Indonesia stock a variety of herbal cold and cough remedies to cater to this demand. Lastly, the affordability of over-the-counter remedies compared to prescription medications makes them a popular choice among customers.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Indonesia is the increasing demand for natural and herbal remedies. This trend is driven by a growing awareness and preference for natural products among consumers. As a result, pharmacies are expanding their product offerings to include a wider range of natural and herbal cold and cough remedies. This trend is also influenced by the traditional medicine practices that are deeply rooted in Indonesian culture. Another trend in the market is the rising popularity of combination remedies. Customers in Indonesia are increasingly opting for cold and cough remedies that provide relief for multiple symptoms. Combination remedies that offer relief for cough, congestion, and sore throat, for example, are gaining traction in the market. This trend can be attributed to the convenience and cost-effectiveness of purchasing a single product that addresses multiple symptoms.
Local special circumstances: Indonesia's tropical climate and high population density contribute to the prevalence of colds and coughs among its population. The country's humid weather creates an environment conducive to the spread of respiratory infections, leading to a higher demand for cold and cough remedies. Additionally, the crowded living conditions in urban areas and the high levels of air pollution further contribute to the prevalence of respiratory illnesses.
Underlying macroeconomic factors: Indonesia's growing middle class and increasing disposable income are key macroeconomic factors driving the growth of the Cold & Cough Remedies (Pharmacies) market. As more Indonesians enter the middle class, they have greater access to healthcare services and are more willing to spend on over-the-counter remedies. Furthermore, the government's efforts to improve healthcare infrastructure and promote access to affordable healthcare are also contributing to the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Indonesia is developing due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, and the rising popularity of combination remedies. The local special circumstances, such as the tropical climate and high population density, further drive the demand for cold and cough remedies. The underlying macroeconomic factors, including the growing middle class and increasing disposable income, are also fueling the market's growth.
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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