Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Burkina Faso

Burkina Faso

In Burkina Faso, the revenue in the Cold & Cough Remedies market market reached US$12.22m in 2024.
The market is projected to experience an annual growth rate of 7.65% (CAGR 2024-2029).
Comparing globally, the in the United States generates the highest revenue in this market, with US$11,190.00m in 2024.
When considering the population, the per person revenue in Burkina Faso amounts to US$0.51 in 2024.
Despite the prevalence of traditional medicinal practices, Burkina Faso is experiencing a growing demand for over-the-counter cold and cough remedies.

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

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Analyst Opinion

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

Customer preferences: Burkina Faso has a high prevalence of respiratory infections, including colds and coughs, due to factors such as poor sanitation, limited access to clean water, and dusty environments. As a result, there is a strong demand for cold and cough remedies among the population.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Burkina Faso is the increasing popularity of herbal and traditional remedies. Many consumers in Burkina Faso have a preference for natural products and traditional medicine. They believe that herbal remedies are safer and have fewer side effects compared to synthetic medications. This trend has led to the growth of local manufacturers and suppliers of herbal cold and cough remedies in the country.Another trend in the market is the rising awareness and adoption of over-the-counter (OTC) medications. As the healthcare system in Burkina Faso is still developing, many consumers prefer to self-medicate for common ailments such as colds and coughs. This has led to an increase in the demand for OTC cold and cough remedies, which are easily accessible and affordable.

Local special circumstances: One of the special circumstances in Burkina Faso that is impacting the Cold & Cough Remedies market is the limited availability of healthcare facilities and healthcare professionals. Many people in rural areas of Burkina Faso do not have easy access to healthcare services, which makes self-medication with cold and cough remedies a common practice. This has created a significant market opportunity for manufacturers and suppliers of OTC cold and cough remedies.

Underlying macroeconomic factors: Burkina Faso is experiencing economic growth, which has led to an increase in disposable income among the population. As a result, consumers have more purchasing power and are able to afford cold and cough remedies. This has contributed to the growth of the market.Additionally, the government of Burkina Faso has been taking steps to improve healthcare infrastructure and access to healthcare services. This includes increasing the availability of essential medicines, including cold and cough remedies, in healthcare facilities and pharmacies. These efforts have further contributed to the growth of the Cold & Cough Remedies market in Burkina Faso.In conclusion, the Cold & Cough Remedies market in Burkina Faso is developing due to customer preferences for herbal and traditional remedies, the increasing adoption of OTC medications, limited access to healthcare facilities, and underlying macroeconomic factors such as economic growth and government initiatives to improve healthcare infrastructure.

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.