Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Romania is experiencing steady growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Romania, customers have a strong preference for over-the-counter cold and cough remedies that can be easily purchased from pharmacies. This preference is driven by the convenience and accessibility of pharmacies, as well as the trust and confidence that customers have in the expertise of pharmacists. Customers also value the wide range of cold and cough remedies available in pharmacies, which allows them to choose products that best suit their needs.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Romania is the increasing demand for natural and herbal remedies. Customers are becoming more health-conscious and are seeking products that are perceived as being more natural and less reliant on synthetic ingredients. This trend is driven by a growing awareness of the potential side effects of certain pharmaceutical drugs, as well as a preference for products that are perceived as being more sustainable and environmentally friendly. Another trend in the market is the increasing popularity of combination products that offer multiple benefits in a single dosage. Customers are attracted to the convenience and efficiency of these products, as they can address multiple symptoms at once. Combination products that offer relief from both cold and cough symptoms, as well as other common symptoms such as fever or headache, are particularly sought after.
Local special circumstances: Romania has a high prevalence of cold and cough-related illnesses, especially during the winter months. The country experiences cold winters, which can contribute to the spread of respiratory infections. This creates a strong demand for cold and cough remedies, as customers seek relief from symptoms such as sore throat, runny nose, and coughing.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in Romania is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, customers have more purchasing power to spend on healthcare products, including cold and cough remedies. In addition, the healthcare system in Romania is undergoing reforms to improve access to healthcare services and increase the affordability of pharmaceutical products. These reforms are expected to further drive the demand for cold and cough remedies, as more people have access to healthcare and can afford to purchase these products. Overall, the Cold & Cough Remedies (Pharmacies) market in Romania is developing due to customer preferences for accessible and convenient remedies, market trends towards natural and combination products, local special circumstances such as the prevalence of cold and cough-related illnesses, and underlying macroeconomic factors such as economic growth and healthcare reforms.
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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