Key regions: United Kingdom, South Korea, Europe, Japan, Germany
The Cold & Cough Remedies (Pharmacies) market in Turkey has been experiencing significant growth in recent years.
Customer preferences: Turkish consumers have shown a growing preference for over-the-counter cold and cough remedies purchased from pharmacies. This can be attributed to several factors, including the convenience of purchasing these products without a prescription, the availability of a wide range of options, and the trust placed in pharmacists as healthcare advisors. Additionally, there is a cultural tendency in Turkey to seek immediate relief from cold and cough symptoms, leading to a higher demand for these remedies.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Turkey is the increasing popularity of natural and herbal remedies. Consumers 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 desire for more holistic and natural approaches to healthcare. As a result, pharmacies in Turkey are expanding their offerings to include a wider range of natural and herbal remedies for cold and cough relief. Another trend in the market is the growing demand for combination products that offer relief for multiple symptoms. Consumers are looking for convenience and efficiency in their healthcare choices, and combination products that address both cold and cough symptoms are becoming increasingly popular. These products often include ingredients such as decongestants, antihistamines, and cough suppressants, providing comprehensive relief for consumers.
Local special circumstances: Turkey has a high prevalence of cold and cough-related illnesses, particularly during the winter months. The country experiences cold temperatures and a humid climate, which can contribute to the spread of respiratory infections. This creates a significant demand for cold and cough remedies throughout the year, with peak seasons during the winter months. The Turkish healthcare system also encourages self-medication for minor ailments, further driving the demand for over-the-counter remedies.
Underlying macroeconomic factors: The growing middle class in Turkey and increasing disposable incomes have played a significant role in the development of the Cold & Cough Remedies (Pharmacies) market. As more consumers have the financial means to purchase healthcare products, the demand for cold and cough remedies has increased. Additionally, the expansion of the pharmacy retail sector in Turkey has made these products more accessible to a larger population. The government's efforts to improve healthcare infrastructure and promote self-care have also contributed to the market's growth. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Turkey is experiencing growth due to customer preferences for over-the-counter remedies, the popularity of natural and herbal products, the demand for combination products, the local prevalence of cold and cough-related illnesses, and underlying macroeconomic factors such as the growing middle class and government initiatives.
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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