Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - CIS

In 2024, the revenue in the Cold & Cough Remedies market market in the CIS amounts to US$1.50bn.
It is projected to grow annually by 5.28% (CAGR 2024-2029).
When compared to the global market, the in the United States generates the highest revenue, reaching US$11,190.00m in 2024.
In terms of per person revenues, US$6.19 are generated in 2024.
The demand for Cold & Cough Remedies in the CIS market is driven by the harsh winter climate and high prevalence of respiratory infections.

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

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Analyst Opinion

The Cold & Cough Remedies market in CIS is experiencing steady growth due to several factors. Customer preferences for over-the-counter remedies, the increasing prevalence of cold and cough illnesses, and the influence of local special circumstances are driving the market's development. Additionally, underlying macroeconomic factors are contributing to the growth of the market.Customer preferences in the CIS region play a significant role in the development of the Cold & Cough Remedies market. Consumers in this region have a preference for self-medication and over-the-counter remedies. This preference is driven by factors such as convenience, cost-effectiveness, and the desire for immediate relief. As a result, there is a high demand for cold and cough remedies that can be easily purchased without a prescription.The increasing prevalence of cold and cough illnesses in the CIS region is another factor driving the market's growth. Cold and cough illnesses are common in this region, particularly during the winter months. The harsh climate and the close proximity of individuals in crowded spaces contribute to the spread of these illnesses. As a result, there is a constant demand for effective remedies to alleviate the symptoms of cold and cough illnesses.Local special circumstances also influence the development of the Cold & Cough Remedies market in the CIS region. For example, the region has a diverse population with different cultural backgrounds and healthcare practices. This diversity creates opportunities for market players to cater to specific customer needs and preferences. Additionally, the presence of local herbal remedies and traditional medicine practices adds to the variety of products available in the market.Underlying macroeconomic factors are also contributing to the growth of the Cold & Cough Remedies market in the CIS region. The region has been experiencing steady economic growth, which has resulted in increased disposable income and improved living standards. As a result, consumers are more willing to spend on healthcare products, including cold and cough remedies. Furthermore, the growing middle class in the region is driving demand for higher-quality products and innovative remedies.In conclusion, the Cold & Cough Remedies market in the CIS region is developing due to customer preferences for over-the-counter remedies, the increasing prevalence of cold and cough illnesses, local special circumstances, and underlying macroeconomic factors. Market players can capitalize on these trends by offering a wide range of products that cater to specific customer needs and preferences. Additionally, innovative remedies and higher-quality products can help meet the growing demand in this 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.