The Cold & Cough Remedies market in Europe is witnessing significant growth and development due to various factors.
Customer preferences: Customers in Europe have shown a strong preference for over-the-counter (OTC) cold and cough remedies. This preference can be attributed to the convenience and accessibility of OTC products, as well as the increasing awareness about self-medication. Additionally, customers in Europe are increasingly seeking natural and herbal remedies for cold and cough, driving the demand for products that are perceived as safer and more gentle on the body.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Europe is the growing demand for combination products. Customers are increasingly looking for products that offer multiple benefits, such as relieving both cold and cough symptoms. Combination products that provide a comprehensive solution to common cold and cough are gaining popularity among customers.Another trend in the market is the increasing demand for innovative delivery formats. Customers are looking for products that are easy to consume and provide quick relief. This has led to the development of various innovative formats such as effervescent tablets, nasal sprays, and throat lozenges. These formats offer convenience and targeted relief, which is driving their adoption among customers.
Local special circumstances: Europe is a diverse region with different countries having their own unique market dynamics. For example, in countries like Germany and France, customers have a strong preference for natural and herbal remedies. This preference is driven by the cultural belief in the healing power of nature and the desire for more holistic approaches to healthcare. On the other hand, countries like the United Kingdom and Italy have a higher demand for combination products, as customers seek convenience and comprehensive relief.
Underlying macroeconomic factors: The growing Cold & Cough Remedies market in Europe can be attributed to several underlying macroeconomic factors. Firstly, the increasing prevalence of cold and cough-related illnesses is driving the demand for remedies. Factors such as changing weather patterns, pollution, and a high population density contribute to the spread of these illnesses.Secondly, the aging population in Europe is also driving the demand for cold and cough remedies. Older adults are more susceptible to cold and cough-related illnesses and tend to seek remedies to alleviate their symptoms. The increasing life expectancy and the rising number of elderly people in Europe are therefore contributing to the growth of the market.Lastly, the rising healthcare costs in Europe are pushing customers towards self-medication and OTC remedies. Customers are increasingly looking for cost-effective solutions for common ailments like cold and cough, and OTC remedies provide an affordable alternative to prescription medications.In conclusion, the Cold & Cough Remedies market in Europe is witnessing growth and development due to customer preferences for OTC products, the demand for combination products and innovative delivery formats, as well as local special circumstances and underlying macroeconomic factors.
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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