Cold & Cough Remedies - Papua New Guinea

The revenue generated in the Cold & Cough Remedies market market in Papua New Guinea amounted to US$9.75m in 2024.
It is projected that the market will experience an annual growth rate of 3.60% (CAGR 2024-2029).
When compared to other countries worldwide, the United States generates the highest revenue with US$11.19bn in 2024.
In terms of per capita income, the revenue per person in Papua New Guinea in 2024 amounts to US$0.93.
Papua New Guinea is experiencing a growing demand for traditional herbal remedies in the Cold & Cough Remedies market.

Definition:
The Cold and Cough market comprises over-the-counter natural and synthetic agents to relieve cough, expectorants and sore throat remedies, cold remedies and preparations against flu-like infections. Cough and cold medication includes medicines in the form of pills, syrups, lozenges, sprays, ointments and granulate for external and internal application. Not included are prescription medicines, preparations that are against the state law or are no explicit cold or cough drugs (e.g. painkillers). Among the top-selling medicines for cold and cough are nose sprays, Mucosolvan syrup, Grippostad C, Sinupret forte, Gelomyrtol, Dolo-Dobendan, Aspirin Complex, Bepanthen nose and eye cream, ACC Akut, Neo-Angin, Vick Vaporup, Isla Moos. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Additional Information:
The Cold and Cough market comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
In the form of pills, syrups, creams, lozenges, sprays and granulate
Expectorants and remedies to relieve cough

Prescription medicines
Homeopathic remedies
Painkillers
Candy

The Cold & Cough Remedies market in Papua New Guinea is developing steadily due to customer preferences for over-the-counter remedies, increasing urbanization, and the prevalence of respiratory illnesses in the country.

Customer preferences: Customers in Papua New Guinea prefer over-the-counter remedies for cold and cough symptoms. This preference is driven by the convenience and accessibility of these products, as well as the relatively low cost compared to prescription medications. Additionally, many customers in the country have a strong belief in traditional remedies, which often include herbal and natural ingredients. As a result, there is a demand for cold and cough remedies that incorporate traditional ingredients.

Trends in the market: The Cold & Cough Remedies market in Papua New Guinea is experiencing growth due to several trends. Firstly, the increasing urbanization in the country has led to a higher concentration of people in cities, where cold and cough symptoms are more prevalent due to factors such as air pollution and close living quarters. This has resulted in a greater demand for remedies to alleviate these symptoms.Secondly, the prevalence of respiratory illnesses in Papua New Guinea is driving the demand for cold and cough remedies. Factors such as poor sanitation, limited access to healthcare, and a lack of awareness about preventive measures contribute to the high incidence of respiratory illnesses in the country. As a result, there is a need for effective remedies to treat these conditions.

Local special circumstances: Papua New Guinea is a country with diverse cultural practices and beliefs. Traditional medicine plays a significant role in the healthcare practices of many communities. This has led to a demand for cold and cough remedies that incorporate traditional ingredients and remedies. Manufacturers and retailers in the market have recognized this demand and have started offering products that cater to these preferences.

Underlying macroeconomic factors: The development of the Cold & Cough Remedies market in Papua New Guinea is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income among the population. This has allowed more people to afford cold and cough remedies, driving the demand in the market.Furthermore, the government of Papua New Guinea has been investing in improving healthcare infrastructure and services. This has led to better access to healthcare facilities and medications, including cold and cough remedies. The government's efforts to improve healthcare have contributed to the growth of the market by increasing awareness and availability of these products.In conclusion, the Cold & Cough Remedies market in Papua New Guinea is developing due to customer preferences for over-the-counter remedies, increasing urbanization, the prevalence of respiratory illnesses, and underlying macroeconomic factors. Manufacturers and retailers in the market should continue to cater to customer preferences for convenience, accessibility, and traditional remedies to capitalize on the growing demand.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.