Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Southeast Asia

Southeast Asia

In 2024, the revenue in the Cold & Cough Remedies market market in Southeast Asia amounts to US$1.73bn.
It is projected to experience an annual growth rate of 8.24% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue in this market, reaching US$11,190.00m in 2024.
In terms of per capita figures, the revenue generated per person in Southeast Asia is US$2.49 in 2024.
In Southeast Asia, the demand for traditional herbal remedies for cold and cough is on the rise, reflecting the region's cultural preference for natural treatments.

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

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Analyst Opinion

The Cold & Cough Remedies market in Southeast Asia has been experiencing steady growth in recent years. Customer preferences in the region have been shifting towards more natural and herbal remedies for cold and cough symptoms. Consumers are becoming more health-conscious and are seeking products that are perceived as safer and more effective. This trend is driven by a growing awareness of the potential side effects of traditional over-the-counter medications, as well as a desire for more sustainable and eco-friendly options. As a result, there has been an increase in demand for natural and herbal remedies, such as honey-based cough syrups, herbal teas, and essential oils.Another trend in the market is the growing popularity of preventive measures to combat cold and cough symptoms. Consumers are increasingly focused on maintaining a healthy lifestyle and boosting their immune system to prevent illnesses. This has led to an increased demand for products that contain immune-boosting ingredients, such as vitamin C, zinc, and echinacea. Additionally, there has been a rise in the use of supplements and vitamins to support overall immune health.Local special circumstances in Southeast Asia have also contributed to the growth of the Cold & Cough Remedies market. The region is known for its tropical climate, which can lead to a higher prevalence of respiratory illnesses, including colds and coughs. The high humidity and temperature create an environment that is conducive to the spread of viruses and bacteria. As a result, consumers in Southeast Asia are more likely to experience cold and cough symptoms and are therefore more inclined to purchase remedies to alleviate their symptoms.Underlying macroeconomic factors have also played a role in the development of the Cold & Cough Remedies market in Southeast Asia. The region has been experiencing rapid economic growth, which has led to an increase in disposable income and improved living standards. As a result, consumers are more willing to spend on healthcare products, including cold and cough remedies. Additionally, the rise of e-commerce platforms has made it easier for consumers to access a wide range of products, including cold and cough remedies, from the comfort of their own homes.In conclusion, the Cold & Cough Remedies market in Southeast Asia is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards natural and herbal remedies, the focus on preventive measures, the tropical climate, and the region's economic growth have all contributed to the growth of the market. As the region continues to develop and consumers become more health-conscious, the Cold & Cough Remedies market is expected to continue its upward trajectory.

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.