Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Southern Europe is experiencing steady growth due to various factors. Customer preferences in the region are driving the demand for these products, while local special circumstances and underlying macroeconomic factors are also contributing to the market's development.
Customer preferences: Customers in Southern Europe have a high demand for Cold & Cough Remedies (Pharmacies) due to the prevalence of cold and flu symptoms in the region. The Mediterranean climate in Southern Europe often leads to seasonal changes that can result in increased incidences of cold and cough. As a result, customers in the region prioritize having these remedies readily available in their local pharmacies.
Trends in the market: One trend in the Cold & Cough Remedies (Pharmacies) market in Southern Europe is the increasing demand for natural and herbal remedies. Customers in the region are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceutical options. This trend is driven by a growing interest in holistic health and wellness, as well as a desire to avoid potential side effects of certain medications. Another trend in the market is the rise of online sales. Customers in Southern Europe are increasingly turning to online platforms to purchase Cold & Cough Remedies (Pharmacies). This shift in consumer behavior is influenced by convenience and the ability to compare prices and products easily. Online sales also provide customers with a wider range of options, as they are not limited to the selection available at their local pharmacies.
Local special circumstances: Southern Europe is home to a large aging population, which contributes to the demand for Cold & Cough Remedies (Pharmacies). Older individuals are more susceptible to cold and cough symptoms, and they often rely on these remedies to alleviate their symptoms. Additionally, the region's high tourism industry also drives the market, as visitors from other countries may require these remedies while traveling.
Underlying macroeconomic factors: The economic stability and growth in Southern Europe play a significant role in the development of the Cold & Cough Remedies (Pharmacies) market. As the region continues to recover from the financial crisis, consumers have more disposable income to spend on healthcare products. This increased purchasing power contributes to the overall growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Southern Europe is growing steadily due to customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for these remedies is driven by the prevalence of cold and cough symptoms, the trend towards natural and herbal remedies, and the convenience of online sales. The region's aging population and thriving tourism industry also contribute to the market's development. Overall, the market's growth is supported by the economic stability and increased purchasing power in Southern Europe.
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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