Cold & Cough Remedies - Georgia | Statista Market Forecast

In the year 2024, the revenue generated in the Cold & Cough Remedies market market in Georgia amounts to US$20.57m.
According to projections, the market is expected to experience an annual growth rate of 7.26% (CAGR 2024-2029).
In comparison to other countries around Worldwide, the United States leads in terms of revenue generation in this market, with a total of US$11.19bn in 2024.
Taking into consideration the total population of Georgia, the per person revenue in the Cold & Cough Remedies market market is estimated at US$5.53 in 2024.
The demand for cold and cough remedies is on the rise in Georgia, as consumers prioritize self-care and seek over-the-counter solutions for their symptoms.

Definition:
The Cold and Cough market comprises over-the-counter natural and synthetic agents to relieve cough, expectorants and sore throat remedies, cold remedies and preparations against flu-like infections. Cough and cold medication includes medicines in the form of pills, syrups, lozenges, sprays, ointments and granulate for external and internal application. Not included are prescription medicines, preparations that are against the state law or are no explicit cold or cough drugs (e.g. painkillers). Among the top-selling medicines for cold and cough are nose sprays, Mucosolvan syrup, Grippostad C, Sinupret forte, Gelomyrtol, Dolo-Dobendan, Aspirin Complex, Bepanthen nose and eye cream, ACC Akut, Neo-Angin, Vick Vaporup, Isla Moos. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Additional Information:
The Cold and Cough market comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
In the form of pills, syrups, creams, lozenges, sprays and granulate
Expectorants and remedies to relieve cough

Prescription medicines
Homeopathic remedies
Painkillers
Candy

The Cold & Cough Remedies market in Georgia is experiencing steady growth due to several factors.

Customer preferences: Customers in Georgia have a preference for over-the-counter cold and cough remedies that provide quick relief from symptoms. They look for products that are easily accessible and affordable. Additionally, customers in Georgia also prefer natural and herbal remedies, as they are perceived to have fewer side effects.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Georgia is the increasing demand for combination products. These products offer a combination of ingredients that target multiple symptoms, providing customers with a convenient solution. Combination products are particularly popular among busy individuals who want to alleviate multiple symptoms with a single product. Another trend in the market is the rising popularity of online sales channels. Customers in Georgia are increasingly turning to online platforms to purchase cold and cough remedies. Online sales channels offer convenience and a wide range of product options, allowing customers to compare prices and read reviews before making a purchase.

Local special circumstances: Georgia has a relatively high prevalence of cold and cough due to its climate. The country experiences cold winters, which contribute to the spread of respiratory infections. As a result, there is a constant demand for cold and cough remedies throughout the year.

Underlying macroeconomic factors: The growing healthcare infrastructure and increasing disposable income in Georgia are driving the growth of the Cold & Cough Remedies market. As the economy continues to develop, more people have access to healthcare facilities and can afford to purchase over-the-counter remedies. This has led to an increase in the demand for cold and cough remedies in the country. In conclusion, the Cold & Cough Remedies market in Georgia is growing steadily due to customer preferences for quick relief, the trend of combination products, the rising popularity of online sales channels, the local climate, and the underlying macroeconomic factors. With these factors in play, the market is expected to continue its upward trajectory in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.