Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Pakistan

Pakistan

Revenue in the Cold & Cough Remedies market is projected to reach US$77.71m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.43%, resulting in a market volume of US$103.50m 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$0.32 are generated in 2024.

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

Market

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Currency

Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Pakistan is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Pakistan are increasingly seeking over-the-counter cold and cough remedies from pharmacies to alleviate their symptoms. The convenience and accessibility of pharmacies make them a popular choice for consumers looking for quick relief. In addition, the affordability of these remedies compared to prescription medications also attracts customers.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Pakistan is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious about the potential side effects of conventional medications and are opting for natural alternatives. This has led to the introduction of a wide range of herbal and natural cold and cough remedies in pharmacies across the country. Another trend in the market is the growing demand for combination products that offer relief from multiple symptoms. Cold and cough remedies that provide relief from congestion, sore throat, and cough in a single product are gaining popularity among consumers. This trend is driven by the convenience and cost-effectiveness of using a single product for multiple symptoms.

Local special circumstances: Pakistan has a high prevalence of respiratory diseases, especially during the winter season. The cold and dry weather conditions make people more susceptible to cold and cough. This creates a significant demand for cold and cough remedies in pharmacies throughout the country. Additionally, the lack of access to healthcare facilities in remote areas further drives the reliance on pharmacies for healthcare needs, including cold and cough remedies.

Underlying macroeconomic factors: The growing population and increasing disposable income in Pakistan are contributing to the growth of the Cold & Cough Remedies (Pharmacies) market. As more people have the means to afford healthcare products, the demand for cold and cough remedies is expected to continue rising. Furthermore, the expansion of the retail sector and the increasing number of pharmacies across the country provide greater accessibility to these remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Pakistan is witnessing growth and development due to customer preferences for over-the-counter remedies, the demand for natural and combination products, local special circumstances such as weather conditions, and underlying macroeconomic factors such as population growth and increasing 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.