Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Zimbabwe

Zimbabwe

In Zimbabwe, the revenue generated in the Cold & Cough Remedies market market in 2024 amounts to US$19.50m.
It is projected to experience an annual growth rate of -0.50% (CAGR 2024-2029).
When comparing 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 figures, each person in Zimbabwe generates revenues of US$1.15 in 2024.
Despite a struggling economy, the demand for cold and cough remedies in Zimbabwe remains high due to the prevalence of respiratory illnesses.

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

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Analyst Opinion

The Cold & Cough Remedies market in Zimbabwe has been experiencing significant growth in recent years.

Customer preferences: Customers in Zimbabwe have shown a strong preference for over-the-counter cold and cough remedies. This can be attributed to the convenience and accessibility of these products, as well as the relatively low cost compared to prescription medications. Additionally, customers in Zimbabwe tend to prefer natural and herbal remedies over synthetic ones, which has led to an increase in the demand for products that are made from natural ingredients.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Zimbabwe is the increasing demand for products that provide multi-symptom relief. Customers are looking for products that can effectively alleviate multiple cold and cough symptoms, such as congestion, sore throat, and coughing. This trend can be attributed to the desire for convenience and cost-effectiveness, as customers prefer to purchase a single product that can address all of their symptoms.Another trend in the market is the growing popularity of online retail channels. With the increasing availability of internet access in Zimbabwe, more customers are turning to online platforms to purchase cold and cough remedies. This trend has been further accelerated by the COVID-19 pandemic, which has led to a shift towards online shopping across various industries.

Local special circumstances: Zimbabwe has a high prevalence of respiratory illnesses, including colds and coughs. This can be attributed to various factors such as poor air quality, inadequate sanitation, and a lack of access to healthcare facilities. As a result, there is a constant demand for cold and cough remedies in the country. Additionally, the country's tropical climate and seasonal changes contribute to the occurrence of cold and flu-like symptoms throughout the year.

Underlying macroeconomic factors: The Cold & Cough Remedies market in Zimbabwe is influenced by several macroeconomic factors. One of the key factors is the country's economic stability and income levels. As the economy improves and disposable incomes increase, customers are more likely to spend on healthcare products, including cold and cough remedies.Another factor is the healthcare infrastructure in the country. Access to healthcare facilities and the availability of healthcare professionals play a crucial role in the demand for cold and cough remedies. As the healthcare infrastructure improves, customers are more likely to seek medical advice and purchase appropriate remedies for their cold and cough symptoms.In conclusion, the Cold & Cough Remedies market in Zimbabwe is experiencing growth due to customer preferences for over-the-counter remedies, the increasing demand for multi-symptom relief products, the popularity of online retail channels, the high prevalence of respiratory illnesses in the country, and the influence of macroeconomic factors such as economic stability and healthcare infrastructure.

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.