Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Benin is experiencing steady growth, driven by customer preferences for over-the-counter remedies and the increasing prevalence of cold and cough symptoms. Customer preferences in the Cold & Cough Remedies market in Benin are shifting towards over-the-counter remedies due to their convenience and accessibility. Consumers are increasingly seeking self-medication options that can be easily purchased without a prescription. This trend is in line with global market preferences, as consumers in many countries are opting for self-care and taking a proactive approach to managing their health. In addition to customer preferences, the increasing prevalence of cold and cough symptoms is driving the growth of the Cold & Cough Remedies market in Benin. Cold and cough symptoms are common ailments, and their occurrence is influenced by factors such as seasonal changes, exposure to viruses, and lifestyle habits. As the population in Benin continues to grow and urbanize, the risk of cold and cough symptoms also increases, leading to a higher demand for remedies to alleviate these symptoms. The trends in the Cold & Cough Remedies market in Benin are also influenced by local special circumstances. Benin is a low-income country, and access to healthcare services can be limited, especially in rural areas. This creates a greater reliance on pharmacies as a primary source of healthcare advice and remedies. Pharmacies play a crucial role in providing accessible healthcare services and products to the population, including cold and cough remedies. Underlying macroeconomic factors also contribute to the development of the Cold & Cough Remedies market in Benin. Economic growth and rising disposable incomes allow consumers to allocate more spending on healthcare and self-care products. As the economy in Benin continues to develop, the purchasing power of the population increases, leading to a higher demand for cold and cough remedies. Overall, the Cold & Cough Remedies market in Benin is developing due to customer preferences for over-the-counter remedies, the increasing prevalence of cold and cough symptoms, local special circumstances that rely on pharmacies for healthcare access, and underlying macroeconomic factors that drive consumer spending on healthcare products.
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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