Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in North Macedonia has been experiencing significant growth in recent years.
Customer preferences: Customers in North Macedonia have shown a strong preference for over-the-counter cold and cough remedies available in pharmacies. This preference can be attributed to the convenience and accessibility of these products. Customers appreciate being able to easily purchase remedies without a prescription, allowing them to quickly address their cold and cough symptoms. Additionally, customers value the expertise and advice provided by pharmacists, who can recommend the most suitable remedies based on individual needs.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in North Macedonia is the increasing demand for natural and herbal remedies. Customers are becoming more health-conscious and are seeking products that are perceived as more natural and less likely to have side effects. This trend is in line with the global shift towards natural and alternative medicines. As a result, pharmacies in North Macedonia have been expanding their offerings to include a wider range of natural and herbal cold and cough remedies. Another trend in the market is the growing popularity of combination remedies. Customers are looking for products that provide relief for multiple symptoms, such as congestion, cough, and sore throat, in a single dose. Combination remedies offer convenience and efficiency, allowing customers to address multiple symptoms with a single product. Pharmacies have responded to this trend by stocking a variety of combination remedies to cater to customer demand.
Local special circumstances: North Macedonia has a relatively high incidence of cold and cough due to its continental climate. The country experiences cold winters, which can contribute to the spread of respiratory infections. As a result, the demand for cold and cough remedies is consistently high throughout the year. This local special circumstance creates a favorable market environment for pharmacies, as they can rely on a steady customer base seeking relief from cold and cough symptoms.
Underlying macroeconomic factors: The growing Cold & Cough Remedies (Pharmacies) market in North Macedonia can also be attributed to favorable macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income. As disposable income rises, customers are more willing to spend on healthcare products, including cold and cough remedies. Additionally, the government's focus on improving healthcare infrastructure and accessibility has also contributed to the growth of the market. Increased access to pharmacies and healthcare services has made it easier for customers to seek remedies for their cold and cough symptoms. In conclusion, the Cold & Cough Remedies (Pharmacies) market in North Macedonia is developing due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, the popularity of combination remedies, the local special circumstance of a high incidence of cold and cough, and favorable macroeconomic factors such as economic growth and improved healthcare infrastructure.
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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