Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Southern Europe

Southern Europe

In Southern Europe, the revenue generated in the Cold & Cough Remedies market market reached US$2.10bn in 2024.
It is projected to experience an annual growth rate of 5.00% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue with US$11,190.00m in 2024.
In terms of per capita figures, each person in Southern Europe contributes US$8.86 in revenue in 2024.
In Southern Europe, Spain is experiencing a growing demand for natural and herbal cold and cough remedies in the OTC pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Cold & Cough Remedies market in Southern Europe has been experiencing steady growth in recent years.

Customer preferences: Customers in Southern Europe have been increasingly seeking out Cold & Cough Remedies to alleviate their symptoms and improve their overall health. This is due to several factors, including a growing awareness of the importance of self-care and prevention, as well as an aging population that is more susceptible to cold and cough symptoms. Additionally, customers in this region are becoming more health-conscious and are actively seeking out natural and herbal remedies to treat their ailments.

Trends in the market: One major trend in the Cold & Cough Remedies market in Southern Europe is the growing demand for natural and herbal remedies. Customers are increasingly turning to products that are perceived to be more gentle on the body and have fewer side effects. This has led to an increase in the availability and variety of natural and herbal remedies in the market, as well as the introduction of new products that cater to this demand.Another trend in the market is the rise of online sales channels. Customers in Southern Europe are increasingly turning to online platforms to purchase Cold & Cough Remedies, as it offers convenience and a wider range of product options. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors.

Local special circumstances: One unique aspect of the Cold & Cough Remedies market in Southern Europe is the influence of traditional medicine. Many customers in this region still rely on traditional remedies and practices to treat their cold and cough symptoms. This has created a niche market for products that combine traditional ingredients with modern formulations, catering to customers who prefer a more holistic approach to their health.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the development of the Cold & Cough Remedies market in Southern Europe. The region has experienced increasing disposable income levels, which has allowed customers to spend more on healthcare products, including Cold & Cough Remedies. Additionally, the aging population in Southern Europe has led to a higher demand for healthcare products, as older individuals are more prone to cold and cough symptoms. Finally, the growing focus on preventive healthcare and self-care has also contributed to the growth of the market, as customers are increasingly willing to invest in products that can help them maintain their health and well-being.

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.