The Cold & Cough Remedies market in Israel is experiencing steady growth due to various factors.
Customer preferences: Israeli consumers have a strong preference for natural and herbal remedies when it comes to treating cold and cough symptoms. They are increasingly seeking products that are free from artificial ingredients and chemicals. This preference for natural remedies is driven by a growing awareness of the potential side effects of conventional medications and a desire for more holistic approaches to healthcare. As a result, there has been a surge in demand for herbal supplements, homeopathic remedies, and essential oils in the Israeli market.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Israel is the rise of e-commerce. With the increasing popularity of online shopping, more and more consumers are turning to online platforms to purchase their cold and cough remedies. This trend is driven by the convenience and accessibility of online shopping, as well as the wide range of products available. E-commerce platforms also provide consumers with the opportunity to compare prices and read reviews, which helps them make informed purchasing decisions.Another trend in the market is the growing demand for natural and organic products. Israeli consumers are becoming more health-conscious and are actively seeking out products that are free from artificial ingredients and preservatives. This has led to an increase in the availability of natural and organic cold and cough remedies in the market. Manufacturers are responding to this demand by developing and marketing products that are made from natural ingredients and are certified organic.
Local special circumstances: Israel has a unique healthcare system that influences the Cold & Cough Remedies market. The country has a universal healthcare system, which means that most prescription medications are covered by the government. This has led to a lower demand for over-the-counter cold and cough remedies compared to other countries. However, there is still a significant market for these products, especially among consumers who prefer natural remedies or who are looking for immediate relief.
Underlying macroeconomic factors: The Cold & Cough Remedies market in Israel is also influenced by macroeconomic factors. The country has a stable economy with a high standard of living, which allows consumers to prioritize their health and well-being. Additionally, Israel has a well-developed healthcare infrastructure and a high level of healthcare expenditure per capita. This provides a favorable environment for the growth of the Cold & Cough Remedies market.In conclusion, the Cold & Cough Remedies market in Israel is driven by customer preferences for natural and herbal remedies, the rise of e-commerce, and the growing demand for natural and organic products. The unique healthcare system and underlying macroeconomic factors also play a role in shaping the market.
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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