Key regions: United States, Japan, Australia, United Kingdom, China
The Cold & Cough Remedies market in BRICS countries is experiencing significant growth due to several factors.
Customer preferences: Customers in BRICS countries are increasingly turning to Cold & Cough Remedies to alleviate symptoms and speed up recovery from common colds and coughs. The rising awareness about the importance of self-care and the increasing availability of over-the-counter remedies have contributed to the growing demand for these products. Additionally, the convenience and affordability of Cold & Cough Remedies make them a preferred choice for many consumers in BRICS countries.
Trends in the market: In Brazil, the Cold & Cough Remedies market is witnessing a surge in demand due to the high prevalence of respiratory infections and a growing aging population. The increasing urbanization and changing lifestyles have also led to a rise in the number of people seeking remedies for cold and cough symptoms.In Russia, the market for Cold & Cough Remedies is expanding due to the high incidence of respiratory diseases and the growing awareness about the importance of early treatment. The availability of a wide range of products, including herbal and natural remedies, has also contributed to the growth of the market.In India, the market for Cold & Cough Remedies is driven by a large population and the high incidence of respiratory infections, especially during the winter months. The increasing adoption of Western lifestyles and the growing middle class have also played a role in the rising demand for these products.In China, the market for Cold & Cough Remedies is growing rapidly due to the increasing urbanization and pollution levels, which contribute to respiratory problems. The rising disposable income and changing consumer preferences towards self-medication have also fueled the demand for these products.In South Africa, the market for Cold & Cough Remedies is expanding due to the high prevalence of respiratory diseases, especially among children. The increasing awareness about the importance of early treatment and the availability of affordable remedies have also contributed to the growth of the market.
Local special circumstances: In Brazil, the government's efforts to improve healthcare infrastructure and increase access to healthcare services have created opportunities for the Cold & Cough Remedies market. Additionally, the presence of a large number of local manufacturers and the availability of herbal and natural remedies have further boosted the market growth.In Russia, the Cold & Cough Remedies market is influenced by the country's cold climate and the high incidence of respiratory diseases. The government's focus on improving healthcare facilities and increasing healthcare spending has also contributed to the market growth.In India, the market for Cold & Cough Remedies is driven by the country's large population and the high prevalence of respiratory infections. The presence of a strong traditional medicine system and the availability of affordable remedies have also played a role in the market's growth.In China, the market for Cold & Cough Remedies is influenced by the country's high pollution levels and the increasing urbanization. The government's focus on improving healthcare infrastructure and increasing healthcare spending has also created opportunities for the market.In South Africa, the market for Cold & Cough Remedies is influenced by the high prevalence of respiratory diseases, especially among children. The government's efforts to improve healthcare facilities and increase access to healthcare services have also contributed to the market growth.
Underlying macroeconomic factors: The growing middle class and rising disposable income in BRICS countries have contributed to the increased affordability and accessibility of Cold & Cough Remedies. The expanding urban population and changing lifestyles have also created a demand for these products. Additionally, the increasing awareness about self-care and the importance of early treatment have further fueled the market growth.In conclusion, the Cold & Cough Remedies market in BRICS countries is experiencing significant growth due to customer preferences, local special circumstances, and underlying macroeconomic factors. The rising awareness about self-care, the availability of affordable remedies, and the high prevalence of respiratory diseases have contributed to the increasing demand for these products.
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.
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