Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Belgium has been experiencing steady growth in recent years.
Customer preferences: Customers in Belgium have shown a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This preference can be attributed to the convenience of purchasing these products directly from a trusted healthcare professional. Additionally, customers in Belgium value the advice and recommendations provided by pharmacists, which further drives their preference for purchasing cold and cough remedies from pharmacies.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Belgium is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing interest in holistic health and wellness, as well as a desire to minimize the potential side effects of medication. As a result, pharmacies in Belgium are expanding their product offerings to include a wider range of natural and herbal remedies to meet this demand. Another trend in the market is the rising popularity of combination cold and cough remedies. Customers in Belgium are looking for convenient solutions that address multiple symptoms at once, rather than purchasing separate products for each symptom. Combination remedies that offer relief from both cold and cough symptoms have gained popularity as they provide a one-stop solution for customers. Pharmacies in Belgium are responding to this trend by stocking a variety of combination remedies to cater to customer preferences.
Local special circumstances: Belgium has a well-developed healthcare system with a strong emphasis on community pharmacies. Pharmacies play a crucial role in the healthcare ecosystem, providing not only medications but also healthcare advice and services. This has created a strong trust and reliance on pharmacies among the Belgian population, leading to a higher demand for cold and cough remedies from these establishments.
Underlying macroeconomic factors: The growth in the Cold & Cough Remedies (Pharmacies) market in Belgium can also be attributed to favorable macroeconomic factors. Belgium has a stable and prosperous economy, which has resulted in increased disposable income among the population. This has allowed customers to spend more on healthcare products, including cold and cough remedies. Additionally, the country has a high standard of healthcare, with a strong focus on preventive care. This emphasis on health and wellness has further contributed to the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Belgium is developing due to customer preferences for purchasing over-the-counter remedies from pharmacies, the increasing demand for natural and herbal remedies, and the rising popularity of combination remedies. The strong reliance on pharmacies in the Belgian healthcare system, as well as favorable macroeconomic factors, have also contributed to the growth 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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