Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in South Africa is experiencing steady growth due to several factors.
Customer preferences: Customers in South Africa have a high demand for cold and cough remedies, which is driving the growth of the market. This can be attributed to the prevalence of cold and cough-related illnesses in the country, as well as the increasing awareness among consumers about the importance of maintaining good respiratory health. Additionally, the convenience and accessibility of purchasing cold and cough remedies from pharmacies make them a popular choice among customers.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in South Africa is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients used in the products they consume and are opting for remedies that are perceived to be more natural and less harmful. This trend is driven by the growing popularity of holistic health practices and the preference for traditional remedies. As a result, pharmaceutical companies are introducing new products that cater to this demand, such as herbal cough syrups and natural throat lozenges. Another trend in the market is the rise of combination products. Customers are looking for remedies that provide relief for multiple symptoms, such as cough, congestion, and sore throat, in a single product. This trend is driven by the convenience and cost-effectiveness of using combination products, as well as the desire to simplify the treatment process. Pharmaceutical companies are responding to this demand by developing and marketing combination products that target a wide range of cold and cough symptoms.
Local special circumstances: South Africa has a high burden of respiratory diseases, such as tuberculosis and HIV-related lung infections, which contribute to the demand for cold and cough remedies. Additionally, the country experiences seasonal outbreaks of respiratory illnesses, particularly during the winter months, further driving the need for these products. The prevalence of these special circumstances creates a favorable environment for the growth of the Cold & Cough Remedies (Pharmacies) market in South Africa.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in South Africa is also influenced by underlying macroeconomic factors. The country has a growing middle class with increasing disposable income, which allows consumers to spend more on healthcare products, including cold and cough remedies. Additionally, the expansion of the pharmaceutical industry and the increasing number of pharmacies in the country provide easy access to these products for customers. These macroeconomic factors contribute to the overall development and growth of the market.
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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