Cold & Cough Remedies (Pharmacies) - Baltics

Revenue in the Cold & Cough Remedies market is projected to reach US$66.83m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.40%, resulting in a market volume of US$100.00m by 2029.
In global comparison, most revenue will be generated China (US$7.83bn in 2024).
In relation to total population figures, per person revenues of US$11.48 are generated in 2024.

Definition:
The Cold and Cough market encompasses a range of over-the-counter (OTC) products sold through pharmacies. These products include both natural and synthetic agents designed to alleviate symptoms related to cough, cold, sore throat, expectorants, and flu-like infections. The market includes various forms of medication such as pills, syrups, lozenges, sprays, ointments, and granulates for both external and internal usage. However, the market excludes prescription medicines, products contrary to state regulations, or those not explicitly designed for cold or cough relief, such as painkillers. Some of the leading products in this market include nose sprays, Mucosolvan syrup, Grippostad C, Sinupret forte, Gelomyrtol, Dolo-Dobendan, Aspirin Complex, Bepanthen nose and eye cream, ACC Akut, Neo-Angin, Vick Vaporup, and Isla Moos. This market exclusively covers product sales through pharmacies.

Additional Information:
The Cold and Cough market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
In the form of pills, syrups, creams, lozenges, sprays and granulate
Expectorants and remedies to relieve cough

Prescription medicines
Homeopathic remedies
Painkillers
Candy

The Cold & Cough Remedies (Pharmacies) market in Baltics is experiencing steady growth due to the increasing demand for over-the-counter medications to treat cold and cough symptoms.

Customer preferences: Customers in the Baltics are increasingly turning to pharmacies to purchase cold and cough remedies. This can be attributed to several factors, including the convenience of being able to access these medications without a prescription, as well as the trust and reliability associated with pharmacy brands. Customers also prefer remedies that provide quick relief from symptoms and are easily accessible at affordable prices.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Baltics is the rising popularity of natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are seeking natural alternatives to traditional medications. This trend is driven by the growing awareness of the potential side effects of certain pharmaceutical drugs and the desire for more holistic approaches to healthcare. Another trend in the market is the increasing availability of combination products that offer multiple benefits. For example, cold and cough remedies that also provide relief from nasal congestion or sore throat symptoms are gaining popularity among customers. This trend reflects the demand for convenient and effective solutions that address multiple symptoms simultaneously.

Local special circumstances: The Baltic countries have a relatively high prevalence of cold and cough symptoms, particularly during the winter months. The cold and damp climate in the region, coupled with the close proximity of people in indoor spaces, contributes to the spread of respiratory infections. As a result, there is a consistent demand for cold and cough remedies throughout the year.

Underlying macroeconomic factors: The growing Cold & Cough Remedies (Pharmacies) market in the Baltics is also influenced by several macroeconomic factors. The increasing disposable income of the population has made healthcare more affordable and accessible, leading to higher demand for over-the-counter medications. Additionally, the aging population in the region is driving the demand for cold and cough remedies, as older individuals are more susceptible to respiratory infections. In conclusion, the Cold & Cough Remedies (Pharmacies) market in the Baltics is experiencing growth due to customer preferences for convenient and accessible remedies, the rising popularity of natural and combination products, and the local special circumstances of the region. These trends are further supported by underlying macroeconomic factors such as increasing disposable income and an aging population.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.