Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Malaysia is experiencing steady growth due to several key factors.
Customer preferences: Customers in Malaysia have shown a growing preference for over-the-counter cold and cough remedies available at pharmacies. This is primarily due to the convenience and accessibility of these products. Consumers appreciate the ability to easily purchase these remedies without the need for a prescription, allowing them to quickly address their cold and cough symptoms. Additionally, customers value the wide range of options available at pharmacies, allowing them to choose products that best suit their needs and preferences.
Trends in the market: One major trend in the Cold & Cough Remedies market in Malaysia is the increasing demand for natural and herbal remedies. Consumers are becoming more health-conscious and are seeking products that are perceived as safer and more natural. As a result, there has been a rise in the popularity of herbal remedies that utilize ingredients such as ginger, honey, and turmeric. This trend is likely to continue as consumers prioritize their health and wellness. Another trend in the market is the growing demand for combination products that offer multiple benefits. Customers are increasingly seeking remedies that not only address cold and cough symptoms but also provide relief for other related ailments such as sore throat or nasal congestion. Manufacturers are responding to this demand by developing products that offer a comprehensive solution to multiple symptoms, providing convenience and effectiveness to consumers.
Local special circumstances: In Malaysia, the prevalence of cold and cough is relatively high due to various factors such as the tropical climate and air pollution. These conditions contribute to a higher incidence of respiratory infections, leading to a greater need for cold and cough remedies. The government has also implemented various healthcare initiatives to promote awareness and prevention of respiratory illnesses, further driving the demand for cold and cough remedies in the country.
Underlying macroeconomic factors: The growing middle-class population in Malaysia, coupled with increasing disposable income, has contributed to the growth of the Cold & Cough Remedies market. As people have more purchasing power, they are willing to spend on healthcare products to alleviate their cold and cough symptoms. Additionally, the expanding urban population and changing lifestyles have led to a higher demand for convenient and accessible healthcare solutions, further driving the market growth. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Malaysia is experiencing steady growth due to customer preferences for over-the-counter remedies, the trend towards natural and herbal products, and the demand for combination remedies. Local special circumstances such as the prevalence of respiratory infections and government healthcare initiatives also contribute to the market growth. The underlying macroeconomic factors of a growing middle-class population and increasing disposable income further support the development of the market in Malaysia.
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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