Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Northern Europe

Northern Europe

In Northern Europe, the revenue generated in the Cold & Cough Remedies market market in 2024 amounts to US$296.40m.
It is projected to experience an annual growth rate of 5.69% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with US$11,190.00m in 2024.
In terms of per person revenues, US$8.75 is generated in 2024.
In Northern Europe, the demand for natural and herbal remedies for cold and cough is on the rise due to a growing preference for organic and sustainable products.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Cold & Cough Remedies market in Northern Europe has been experiencing steady growth in recent years. Customer preferences in the region have been shifting towards natural and herbal remedies, as consumers are becoming more health-conscious and are seeking products with fewer side effects. This trend is in line with the global shift towards natural and organic products, as consumers are becoming more aware of the potential risks associated with synthetic ingredients. As a result, there has been an increase in demand for cold and cough remedies that are made from natural ingredients, such as honey, ginger, and Echinacea.Another customer preference in the Northern European market is convenience. Consumers are looking for products that are easy to use and can be taken on the go. This has led to the development of innovative formats, such as liquid sachets and dissolvable tablets, that offer quick and easy relief from cold and cough symptoms.Trends in the market include the growing popularity of online sales channels. E-commerce has become increasingly popular in Northern Europe, as consumers are embracing the convenience of online shopping. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all product categories. As a result, many cold and cough remedy brands have expanded their online presence and are investing in digital marketing strategies to reach a wider audience.Local special circumstances in Northern Europe include the high prevalence of cold and flu during the winter months. The region experiences long and cold winters, which often result in a higher number of people falling ill with cold and flu symptoms. This creates a significant market opportunity for cold and cough remedy manufacturers, as consumers are actively seeking products to alleviate their symptoms and shorten the duration of their illness.Underlying macroeconomic factors that have contributed to the growth of the Cold & Cough Remedies market in Northern Europe include the increasing disposable income of consumers. Northern European countries have a high standard of living and strong economies, which has resulted in higher disposable incomes for consumers. This has enabled consumers to spend more on healthcare products, including cold and cough remedies.In conclusion, the Cold & Cough Remedies market in Northern Europe is developing in response to customer preferences for natural and convenient products. The market is also benefiting from the growing popularity of online sales channels and the high prevalence of cold and flu during the winter months. These trends, along with the underlying macroeconomic factors, are driving the growth of the market in the region.

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.