Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - South America

South America

In South America, the revenue in the Cold & Cough Remedies market market reached US$1.50bn in 2024.
It is projected to experience an annual growth rate of 6.86% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, amounting to US$11,190.00m in 2024.
In terms of per capita revenue, each person in South America generates US$3.64 in 2024.
In South America, there is a growing demand for natural and herbal remedies in the Cold & Cough Remedies market.

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

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Analyst Opinion

The Cold & Cough Remedies market in South America is experiencing steady growth due to various customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in South America play a significant role in the development of the Cold & Cough Remedies market. Consumers in this region often prioritize natural and herbal remedies over pharmaceutical options. This preference for natural remedies is driven by a desire for holistic and alternative healthcare solutions. As a result, there is a growing demand for herbal supplements, essential oils, and homeopathic remedies in the Cold & Cough Remedies market.Trends in the market also contribute to its development in South America. One notable trend is the increasing awareness and adoption of preventive healthcare practices. Consumers are becoming more proactive in maintaining their overall well-being, including taking measures to prevent illnesses such as colds and coughs. This trend has led to a rise in the consumption of immune-boosting products and supplements, as well as a focus on maintaining a healthy lifestyle through exercise and proper nutrition.Local special circumstances further shape the Cold & Cough Remedies market in South America. The region's diverse climate and geography contribute to the prevalence of respiratory illnesses, making cold and cough remedies essential for many individuals. Additionally, South America has a rich tradition of natural medicine, with indigenous communities using local plants and herbs for centuries to treat various ailments. This cultural heritage has influenced consumer preferences and the availability of natural remedies in the market.Underlying macroeconomic factors also play a role in the development of the Cold & Cough Remedies market in South America. Economic growth and increasing disposable incomes have led to a higher standard of living for many individuals in the region. As a result, consumers are more willing to invest in healthcare products and are increasingly seeking out effective remedies for colds and coughs. Furthermore, the COVID-19 pandemic has heightened awareness of the importance of maintaining a strong immune system, driving further demand for cold and cough remedies.In conclusion, the Cold & Cough Remedies market in South America is developing due to customer preferences for natural remedies, trends in preventive healthcare practices, local special circumstances such as climate and cultural heritage, and underlying macroeconomic factors such as economic growth and the COVID-19 pandemic. This market is expected to continue growing as consumers prioritize their health and seek out effective solutions for colds and coughs.

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.