Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Italy

Italy

Revenue in the Cold & Cough Remedies market is projected to reach US$0.69bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.11%, resulting in a market volume of US$0.78bn by 2028.
In global comparison, most revenue will be generated in China (US$7,826.00m in 2024).
In relation to total population figures, per person revenues of US$11.69 are generated in 2024.

Key regions: United Kingdom, South Korea, Europe, Japan, Germany

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Currency

Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Italy has been experiencing steady growth in recent years.

Customer preferences: Italian consumers have a high demand for cold and cough remedies, particularly during the winter months when cold and flu season is at its peak. This is driven by the desire to alleviate symptoms such as coughing, sneezing, and congestion. Customers are also increasingly seeking natural and herbal remedies, as they are perceived to be safer and have fewer side effects compared to traditional pharmaceutical products.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Italy is the increasing popularity of over-the-counter (OTC) products. These products are easily accessible and do not require a prescription, making them convenient for consumers. Additionally, the rising health consciousness among Italians has led to an increased demand for natural and organic cold and cough remedies. This trend is driven by the perception that natural remedies are more effective and have fewer side effects compared to traditional pharmaceutical products. Another trend in the market is the growing preference for combination products. These products offer multiple benefits in a single dose, such as relieving cough, congestion, and sore throat. Combination products are particularly popular among busy individuals who prefer the convenience of a single medication to address multiple symptoms.

Local special circumstances: Italy has a well-established healthcare system, which includes a network of pharmacies that play a crucial role in distributing cold and cough remedies. Pharmacies in Italy are easily accessible to consumers and provide a wide range of products, including both prescription and OTC medications. This accessibility and availability of cold and cough remedies contribute to the growth of the market.

Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Italy is also influenced by macroeconomic factors. Italy has a large aging population, which is more susceptible to respiratory illnesses and therefore has a higher demand for cold and cough remedies. Additionally, the rising disposable income among Italians has increased their purchasing power and ability to afford these products. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Italy is growing due to customer preferences for OTC and natural remedies, as well as the convenience and accessibility provided by pharmacies. The market is also influenced by the trend of combination products and the underlying macroeconomic factors such as the aging population and rising disposable income.

Methodology

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.