Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Estonia

Estonia

In Estonia, the revenue in the Cold & Cough Remedies market market reached US$21.80m in 2024.
The market is projected to experience an annual growth rate of 6.74% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue, amounting to US$11,190.00m in 2024.
In terms of per capita figures, in Estonia generates US$16.53 in revenue per person in 2024.
Estonia's demand for natural and herbal cold & cough remedies is on the rise, reflecting a growing preference for alternative medicine in the country.

Key regions: United States, Japan, Australia, United Kingdom, China

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Analyst Opinion

The Cold & Cough Remedies market in Estonia has been experiencing steady growth in recent years.

Customer preferences: Estonian consumers have shown a strong preference for over-the-counter cold and cough remedies, particularly those that provide quick relief from symptoms. They value convenience and affordability, and are more likely to purchase products that are easily accessible in local pharmacies and supermarkets. Additionally, there is a growing demand for natural and herbal remedies, as consumers become more health-conscious and seek alternatives to traditional pharmaceutical products.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Estonia is the increasing popularity of combination products. These products offer multiple benefits, such as relieving congestion, reducing cough, and soothing sore throat, in a single formulation. This trend is driven by the convenience it offers to consumers, who prefer to purchase one product that addresses multiple symptoms.Another trend in the market is the growing demand for immune-boosting remedies. Estonian consumers are becoming more proactive in maintaining their health and are seeking products that can strengthen their immune system and prevent colds and coughs. This trend is driven by the increasing awareness of the importance of preventive healthcare and the desire to reduce reliance on medication.

Local special circumstances: Estonia has a cold climate, with long and harsh winters. This creates a higher prevalence of cold and cough symptoms among the population, leading to a greater demand for remedies to alleviate these symptoms. The seasonal nature of the market also contributes to fluctuations in sales, with peak demand occurring during the winter months.

Underlying macroeconomic factors: The growing Cold & Cough Remedies market in Estonia can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth, which has resulted in increased disposable income and higher healthcare expenditure. This has allowed consumers to spend more on self-care products, including cold and cough remedies.Additionally, the aging population in Estonia is driving the demand for cold and cough remedies. As people age, they are more susceptible to respiratory infections and are more likely to seek relief from cold and cough symptoms. The increasing life expectancy in Estonia has led to a larger elderly population, which further boosts the demand for these remedies.In conclusion, the Cold & Cough Remedies market in Estonia is growing due to customer preferences for convenient and affordable products, as well as the increasing demand for combination and immune-boosting remedies. The local special circumstances, such as the cold climate and seasonal nature of the market, also contribute to the market's development. Furthermore, underlying macroeconomic factors, such as economic growth and an aging population, are driving the demand for cold and cough remedies in Estonia.

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.