Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Angola is experiencing significant growth due to increasing customer preferences for over-the-counter remedies, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Angola are increasingly seeking over-the-counter remedies for cold and cough symptoms. This shift in preference can be attributed to several factors. Firstly, customers are becoming more health-conscious and are actively seeking self-care options for common ailments. They prefer the convenience and accessibility of over-the-counter remedies available at pharmacies. Additionally, customers are becoming more informed about the effectiveness and safety of these remedies, leading to increased trust in these products.
Trends in the market: The Cold & Cough Remedies market in Angola is witnessing several trends that are driving its growth. Firstly, there is a growing demand for natural and herbal remedies. Customers are increasingly seeking products that are perceived to be safer and have fewer side effects. This trend is in line with the global shift towards natural and organic products. Pharmacies in Angola are responding to this trend by expanding their range of natural and herbal remedies. Another trend in the market is the increasing availability of private label products. Pharmacies in Angola are launching their own brands of cold and cough remedies, offering customers a more affordable alternative to branded products. This trend is driven by the desire to cater to price-sensitive customers and increase customer loyalty.
Local special circumstances: Angola has a high prevalence of respiratory diseases, which has contributed to the growth of the Cold & Cough Remedies market. The country has a tropical climate, which can lead to respiratory infections and allergies. Additionally, poor air quality in urban areas and a high smoking rate further contribute to the prevalence of respiratory diseases. These local circumstances have created a significant demand for cold and cough remedies, driving the growth of the market.
Underlying macroeconomic factors: The Cold & Cough Remedies market in Angola is also influenced by underlying macroeconomic factors. The country has been experiencing economic growth in recent years, leading to an increase in disposable income. As a result, customers have more purchasing power and are willing to spend on healthcare products. This economic growth has also led to an expansion of the middle class, who are more likely to seek over-the-counter remedies for common ailments. Furthermore, the government of Angola has been investing in healthcare infrastructure and improving access to healthcare services. This has increased awareness about the availability of cold and cough remedies in pharmacies and has contributed to the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Angola is growing due to increasing customer preferences for over-the-counter remedies, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customers are seeking convenient and accessible options for self-care, leading to a shift towards over-the-counter remedies. Trends such as the demand for natural and herbal remedies and the availability of private label products are driving the growth of the market. The high prevalence of respiratory diseases in Angola, along with economic growth and government investments in healthcare, are also contributing to the expansion of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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