Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Malaysia

Malaysia

In Malaysia, the revenue in the Cold & Cough Remedies market market in 2024 is estimated to be US$89.60m.
It is projected to experience an annual growth rate of 7.78% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue in this market, reaching US$11,190.00m in 2024.
In terms of per capita figures, each individual in Malaysia generates revenues of US$2.58 in 2024.
In Malaysia, the demand for herbal cold and cough remedies is on the rise due to the country's traditional medicine practices.

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

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Analyst Opinion

The Cold & Cough Remedies market in Malaysia is experiencing significant growth due to various factors.

Customer preferences: Customers in Malaysia have shown a growing preference for over-the-counter cold and cough remedies. This can be attributed to the convenience and accessibility of these products, as well as the increasing awareness about self-care and the importance of managing common ailments at home. Additionally, the affordability of these remedies compared to prescription medications is also a driving factor for customer preference.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Malaysia is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients used in the products they consume and are seeking alternatives to traditional pharmaceutical options. This trend is also influenced by the global shift towards natural and organic products.Another trend in the market is the growing popularity of combination cold and cough remedies. These products offer convenience to customers by addressing multiple symptoms with a single product. The demand for such combination remedies is driven by the desire for quick relief and ease of use.

Local special circumstances: Malaysia has a tropical climate, which makes it prone to certain weather-related health issues such as allergies and respiratory infections. This has created a specific need for cold and cough remedies in the market. Additionally, Malaysia has a large population and a growing middle class, which contributes to the overall demand for healthcare products, including cold and cough remedies.

Underlying macroeconomic factors: The growing economy in Malaysia has led to an increase in disposable income among consumers. This has resulted in higher healthcare spending and a willingness to invest in over-the-counter remedies for common ailments. Furthermore, the government's efforts to improve healthcare infrastructure and promote self-care have also contributed to the growth of the Cold & Cough Remedies market in Malaysia.In conclusion, the Cold & Cough Remedies market in Malaysia is witnessing growth due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, and the popularity of combination remedies. The local climate and population demographics also play a role in driving the market. Additionally, the growing economy and government initiatives have further fueled the market's expansion.

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.