Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Austria is experiencing steady growth due to several factors. Customer preferences for over-the-counter medications, the emergence of new product innovations, and the increasing prevalence of cold and cough symptoms are all contributing to the expansion of the market. Customer preferences in Austria are shifting towards self-care and convenience, leading to a higher demand for over-the-counter medications. Consumers are increasingly seeking remedies that they can easily purchase without a prescription, allowing them to quickly alleviate their cold and cough symptoms. This preference for convenience is driving the growth of the Cold & Cough Remedies market in Austria, as pharmacies are able to meet this demand by offering a wide range of over-the-counter options. In addition to customer preferences, the market is also being driven by new product innovations. Pharmaceutical companies are constantly developing and introducing new cold and cough remedies that are more effective and have fewer side effects. These innovations are attracting consumers who are looking for more targeted and efficient solutions to their symptoms. As a result, the Cold & Cough Remedies market in Austria is experiencing growth as these new products gain popularity among consumers. The increasing prevalence of cold and cough symptoms is another key factor contributing to the growth of the market. Cold and cough symptoms are common, especially during the winter months, and many individuals seek relief from over-the-counter medications. The rising number of people experiencing these symptoms is driving the demand for Cold & Cough Remedies in Austria. Local special circumstances in Austria also play a role in the growth of the Cold & Cough Remedies market. The country has a well-developed healthcare system, with a high number of pharmacies that are easily accessible to the population. This accessibility makes it convenient for consumers to purchase cold and cough remedies, further contributing to the growth of the market. Underlying macroeconomic factors, such as population growth and increasing disposable income, are also driving the expansion of the Cold & Cough Remedies market in Austria. As the population grows, so does the potential customer base for these products. Additionally, increasing disposable income allows consumers to spend more on healthcare products, including over-the-counter medications for cold and cough symptoms. In conclusion, the Cold & Cough Remedies market in Austria is experiencing growth due to customer preferences for over-the-counter medications, new product innovations, the increasing prevalence of cold and cough symptoms, local special circumstances, and underlying macroeconomic factors. As these factors continue to drive demand, the market is expected to expand further in the coming years.
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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