Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Mexico

Mexico

In Mexico, the revenue in the Cold & Cough Remedies market market reached a substantial amount of US$0.45bn in 2024.
It is projected to experience an annual growth rate of 4.47% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue with an impressive US$11,190.00m in 2024.
In terms of per person revenues, in Mexico generates US$3.45 in 2024, taking into account the total population figures.
In Mexico, the demand for natural and herbal remedies for cold and cough is on the rise, as consumers seek alternative and holistic approaches to healthcare.

Key regions: Australia, Japan, India, Brazil, Canada

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Analyst Opinion

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

Customer preferences: Mexican consumers are increasingly seeking over-the-counter remedies for cold and cough symptoms. This trend is driven by the convenience and accessibility of these products, as well as the desire to alleviate symptoms without the need for a prescription. Additionally, there is a growing awareness among consumers about the importance of self-care and taking proactive measures to manage their health.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Mexico is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious about the ingredients in the products they use and are opting for natural alternatives that are perceived to be safer and have fewer side effects. This trend is also influenced by the growing popularity of traditional medicine and natural remedies in Mexican culture.Another trend in the market is the rise of combination products that offer multiple benefits. Manufacturers are introducing products that not only provide relief from cold and cough symptoms but also address other related issues such as nasal congestion, sore throat, and headache. This trend is driven by the desire for convenience and cost-effectiveness, as consumers prefer to purchase a single product that can address multiple symptoms.

Local special circumstances: Mexico has a high prevalence of respiratory infections, which contributes to the demand for Cold & Cough Remedies. The country's climate and air pollution levels can exacerbate respiratory conditions, leading to a greater need for effective remedies. Additionally, the country's large population and urbanization rate further contribute to the demand for these products.

Underlying macroeconomic factors: The growing middle class in Mexico has increased disposable incomes, allowing consumers to spend more on healthcare products. This has led to increased demand for Cold & Cough Remedies as consumers are willing to invest in their health and well-being. Additionally, the expansion of the retail sector and the increasing availability of these products in pharmacies and convenience stores have made them more accessible to consumers.In conclusion, the Cold & Cough Remedies market in Mexico is experiencing growth due to the increasing preference for over-the-counter remedies, the demand for natural and combination products, the high prevalence of respiratory infections, and the growing disposable incomes of consumers. As these trends continue, the market is expected to further expand in the coming years.

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.