Key regions: Canada, United Kingdom, United States, China, Europe
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.
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