Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - EU-27

EU-27

In the year 2024, the revenue generated in the Cold & Cough Remedies market market in the EU-27 amounts to US$7.69bn.
It is projected that the market will experience an annual growth rate of 5.56% from 2024 to 2029 (CAGR 2024-2029).
When comparing revenue on a global scale, the in the United States generates the highest amount with US$11,190.00m in 2024.
On a per capita basis, the revenue generated in the EU-27 is US$17.19 per person in 2024.
In the EU-27, Germany is leading the way in the Cold & Cough Remedies market with a strong emphasis on natural and herbal remedies.

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

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Analyst Opinion

The Cold & Cough Remedies market in EU-27 is experiencing steady growth due to customer preferences for over-the-counter remedies, increasing prevalence of cold and cough illnesses, and the presence of local special circumstances. Additionally, underlying macroeconomic factors such as population growth and changing lifestyles contribute to the development of the market.

Customer preferences: Customers in the EU-27 region prefer over-the-counter remedies for cold and cough symptoms. This preference is driven by the convenience of purchasing these remedies without a prescription and the perception that they provide quick relief. The availability of a wide range of products, including cough syrups, lozenges, nasal sprays, and tablets, caters to the diverse needs and preferences of customers in the region.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in EU-27 is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients used in the products they consume and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by the growing popularity of natural and holistic approaches to healthcare.Another trend in the market is the introduction of innovative delivery formats. Manufacturers are constantly developing new formulations and delivery methods to enhance the effectiveness and convenience of cold and cough remedies. For example, there has been an increase in the availability of fast-dissolving tablets and nasal sprays, which offer quick relief and ease of use.

Local special circumstances: One of the local special circumstances in the Cold & Cough Remedies market in EU-27 is the high prevalence of cold and cough illnesses during the winter season. The region experiences cold and damp weather conditions, which contribute to the spread of respiratory infections. As a result, there is a higher demand for cold and cough remedies during this period.Additionally, the EU-27 region has a strong healthcare infrastructure and regulatory framework, which ensures the safety and quality of cold and cough remedies available in the market. This gives customers confidence in the products they purchase and contributes to the overall growth of the market.

Underlying macroeconomic factors: The Cold & Cough Remedies market in EU-27 is influenced by underlying macroeconomic factors such as population growth and changing lifestyles. The region has a large and growing population, which increases the potential customer base for cold and cough remedies. Furthermore, changing lifestyles, including increased urbanization and a rise in disposable incomes, contribute to the demand for convenient and effective remedies for cold and cough symptoms.In conclusion, the Cold & Cough Remedies market in EU-27 is developing due to customer preferences for over-the-counter remedies, increasing prevalence of cold and cough illnesses, and the presence of local special circumstances. Additionally, underlying macroeconomic factors such as population growth and changing lifestyles contribute 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.