Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Southern Asia is experiencing significant growth and development due to several key factors.
Customer preferences: Customers in Southern Asia have shown a strong preference for over-the-counter cold and cough remedies available at pharmacies. This preference can be attributed to the convenience and accessibility of these products, as well as the trust placed in the expertise of pharmacists. Additionally, customers in this region often prioritize self-medication and prefer to treat minor ailments at home rather than seeking medical attention.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Southern Asia is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing awareness of the potential side effects of certain medications and a desire for more holistic approaches to healthcare. Another trend in the market is the rising popularity of combination products that offer relief for multiple symptoms. Customers are looking for convenience and efficiency in their cold and cough remedies, and combination products that address a range of symptoms are meeting this demand. These products often include ingredients such as antihistamines, decongestants, and cough suppressants, providing comprehensive relief for customers.
Local special circumstances: One of the special circumstances in the Southern Asian market is the prevalence of tropical climates in many countries. This climate can contribute to the spread of viruses and increase the occurrence of cold and cough symptoms. As a result, customers in these countries may have a higher demand for cold and cough remedies compared to regions with milder climates. Additionally, cultural beliefs and practices may influence customer preferences in this market. Traditional medicine and home remedies are often deeply ingrained in the culture of Southern Asian countries. Customers may seek out remedies based on traditional practices, such as herbal teas or steam inhalation, alongside or instead of pharmaceutical options.
Underlying macroeconomic factors: The growing middle class in Southern Asia is a significant driver of the Cold & Cough Remedies (Pharmacies) market. As disposable incomes rise, more customers are able to afford over-the-counter remedies and are willing to spend on healthcare products. This increasing purchasing power is contributing to the growth of the market in the region. Furthermore, rapid urbanization and changing lifestyles are also impacting the market. Urban areas in Southern Asia are experiencing higher levels of pollution, stress, and exposure to crowded environments, all of which can increase the risk of cold and cough symptoms. As more people move to cities and adopt urban lifestyles, the demand for cold and cough remedies is expected to continue to grow. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Southern Asia is developing due to customer preferences for accessible and convenient remedies, the increasing demand for natural and combination products, local special circumstances such as tropical climates and cultural practices, and underlying macroeconomic factors such as the growing middle class and urbanization.
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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