The Cold & Cough Remedies market in North America is experiencing steady growth due to several factors. Customer preferences for over-the-counter remedies, the increasing prevalence of cold and cough symptoms, and local special circumstances are all contributing to the development of the market in this region.Customer preferences in North America heavily favor over-the-counter remedies for cold and cough symptoms. Consumers in this region generally prefer to self-medicate and seek immediate relief from their symptoms. This preference for over-the-counter remedies is driven by convenience, cost-effectiveness, and the ability to choose from a wide range of products available in pharmacies and supermarkets. As a result, the market for over-the-counter cold and cough remedies is thriving in North America.In addition to customer preferences, the increasing prevalence of cold and cough symptoms is also driving the growth of the market in North America. Cold and cough symptoms are common in this region, especially during the winter months. The cold weather and close proximity of individuals in crowded areas contribute to the spread of viruses that cause these symptoms. As a result, there is a high demand for cold and cough remedies to alleviate the discomfort and inconvenience associated with these symptoms.Local special circumstances also play a role in the development of the Cold & Cough Remedies market in North America. The healthcare system in this region is primarily focused on primary care and self-care. Many individuals prefer to manage their cold and cough symptoms at home without seeking medical attention. This cultural preference for self-care further drives the demand for over-the-counter remedies and contributes to the growth of the market.Underlying macroeconomic factors also contribute to the development of the Cold & Cough Remedies market in North America. The region has a strong economy with high disposable income levels, allowing consumers to afford over-the-counter remedies. Additionally, the well-established pharmaceutical industry in North America ensures a steady supply of cold and cough remedies to meet the growing demand.In conclusion, the Cold & Cough Remedies market in North America is developing due to customer preferences for over-the-counter remedies, the increasing prevalence of cold and cough symptoms, local special circumstances that favor self-care, and underlying macroeconomic factors. These factors create a favorable environment for the growth of the market in this region.
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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