The Cold & Cough Remedies market in Ireland has been experiencing steady growth in recent years, driven by several factors.
Customer preferences: Irish consumers have shown a growing preference for over-the-counter cold and cough remedies, as they seek quick relief from symptoms such as congestion, coughing, and sore throat. This trend can be attributed to the increasing awareness and knowledge about self-care and the convenience of purchasing these remedies without a prescription. Additionally, the availability of a wide range of products, including tablets, syrups, and nasal sprays, allows consumers to choose the most suitable option for their needs.
Trends in the market: One major trend in the Cold & Cough Remedies market in Ireland is the rising demand for natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceuticals. This shift towards natural remedies is driven by the perception that they are safer and have fewer side effects.Another trend is the growing popularity of combination products that offer relief from multiple symptoms. These products often combine ingredients such as decongestants, antihistamines, and cough suppressants to provide comprehensive relief. This trend can be attributed to the convenience and cost-effectiveness of purchasing a single product that addresses multiple symptoms.
Local special circumstances: One unique aspect of the Cold & Cough Remedies market in Ireland is the influence of traditional Irish remedies. While modern pharmaceuticals dominate the market, there is still a significant interest in traditional remedies passed down through generations. These remedies often include ingredients such as honey, lemon, and herbal infusions, which are believed to have soothing and healing properties.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in Ireland can also be attributed to several macroeconomic factors. Firstly, the increasing disposable income of Irish consumers has allowed them to spend more on healthcare products, including cold and cough remedies. Additionally, the aging population in Ireland has contributed to the growth of the market, as older individuals are more susceptible to cold and cough symptoms and are more likely to seek remedies.In conclusion, the Cold & Cough Remedies market in Ireland is experiencing steady growth due to customer preferences for over-the-counter remedies, the rising demand for natural and herbal products, and the popularity of combination remedies. The influence of traditional Irish remedies and underlying macroeconomic factors such as increasing disposable income and an aging population also contribute to the market's development.
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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