Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Bhutan

Bhutan

In Bhutan, the revenue in the Cold & Cough Remedies market market reached US$0.43m in 2024.
It is projected to experience an annual growth rate of 7.94% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, amounting to US$11,190.00m in 2024.
In terms of per person revenues, in Bhutan generates US$0.54 in 2024.
The demand for traditional herbal remedies for cold and cough in Bhutan is on the rise, reflecting the country's rich cultural heritage and preference for natural healing methods.

Key regions: Australia, Japan, India, Brazil, Canada

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Analyst Opinion

The Cold & Cough Remedies market in Bhutan is experiencing significant growth and development.

Customer preferences: Customers in Bhutan have shown a growing preference for cold and cough remedies in recent years. This can be attributed to several factors. Firstly, increased awareness about the importance of maintaining good health and preventing illnesses has led to a greater demand for remedies that can alleviate symptoms and speed up recovery. Additionally, the changing lifestyles and dietary habits of Bhutanese consumers have made them more susceptible to colds and coughs, leading to a higher demand for remedies.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Bhutan is the increasing popularity of natural and herbal remedies. Bhutan has a rich tradition of using natural ingredients for medicinal purposes, and consumers are increasingly seeking out products that are made from natural sources. This trend is driven by a desire for more sustainable and environmentally friendly products, as well as a growing awareness of the potential side effects of synthetic medications. As a result, companies in the market are introducing new products that are made from natural ingredients and are marketed as being more gentle and effective.Another trend in the market is the rising demand for over-the-counter remedies. Bhutan has a relatively small healthcare system and access to doctors and prescription medications can be limited, especially in rural areas. As a result, consumers often rely on over-the-counter remedies to treat common ailments such as colds and coughs. This trend is further fueled by the convenience and affordability of over-the-counter remedies, as well as the increasing availability of these products in local pharmacies and stores.

Local special circumstances: Bhutan is a landlocked country located in the Eastern Himalayas. Its unique geography and climate present special circumstances that impact the Cold & Cough Remedies market. The country experiences cold winters and high altitudes, which can increase the risk of colds and coughs. Additionally, Bhutan has a predominantly rural population, with limited access to healthcare facilities. These factors contribute to a higher demand for remedies that can be easily accessed and used at home.

Underlying macroeconomic factors: The growth and development of the Cold & Cough Remedies market in Bhutan can also be attributed to underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, which has led to an increase in disposable incomes. As a result, consumers have more purchasing power and are able to afford remedies to alleviate their cold and cough symptoms. Furthermore, the government of Bhutan has been investing in healthcare infrastructure and services, which has improved access to healthcare and increased awareness about the importance of preventive measures and remedies.In conclusion, the Cold & Cough Remedies market in Bhutan is developing due to customer preferences for natural and over-the-counter remedies, as well as local special circumstances such as the country's geography and climate. The underlying macroeconomic factors of economic growth and government investments in healthcare have also contributed to the growth of the market.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.