Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Brunei Darussalam is experiencing steady growth, driven by customer preferences for over-the-counter remedies, increasing awareness about the importance of self-medication, and a growing aging population. Customer preferences in Brunei Darussalam are shifting towards over-the-counter remedies for cold and cough symptoms. This is primarily due to the convenience and accessibility of these products in pharmacies, as well as the increasing awareness about the effectiveness of self-medication. Consumers are opting for remedies that provide quick relief from symptoms such as cough, congestion, and sore throat, without the need for a prescription. This preference for over-the-counter remedies is driving the demand for cold and cough remedies in pharmacies. The market is also benefiting from the growing aging population in Brunei Darussalam. As the population ages, the incidence of cold and cough symptoms tends to increase. Older individuals are more susceptible to respiratory infections and are more likely to seek remedies to alleviate their symptoms. This demographic trend is contributing to the growth of the Cold & Cough Remedies (Pharmacies) market in Brunei Darussalam. In addition to these customer preferences, there are several trends in the market that are driving its development. One such trend is the increasing availability of a wide range of cold and cough remedies in pharmacies. Pharmacies in Brunei Darussalam are expanding their product offerings to cater to the diverse needs of consumers. This includes a variety of cough syrups, lozenges, nasal sprays, and throat sprays, among others. The availability of these products in pharmacies is attracting more customers and fueling the growth of the market. Another trend in the market is the growing emphasis on natural and herbal remedies. Consumers in Brunei Darussalam are becoming more conscious about the ingredients and potential side effects of cold and cough remedies. As a result, there is a rising demand for natural and herbal alternatives that offer relief from cold and cough symptoms without the use of synthetic ingredients. Pharmacies are responding to this trend by stocking a range of natural and herbal remedies, thereby driving the growth of this segment in the market. Local special circumstances in Brunei Darussalam, such as the high prevalence of respiratory infections during the rainy season, are also contributing to the growth of the Cold & Cough Remedies (Pharmacies) market. The humid and rainy climate in the country creates favorable conditions for the spread of respiratory infections, leading to an increased demand for remedies to alleviate cold and cough symptoms. Pharmacies play a crucial role in providing access to these remedies, making them an essential part of the healthcare landscape in Brunei Darussalam. Underlying macroeconomic factors, such as increasing disposable income and improving healthcare infrastructure, are also supporting the growth of the Cold & Cough Remedies (Pharmacies) market in Brunei Darussalam. Rising disposable income levels enable consumers to afford over-the-counter remedies and seek healthcare solutions for their cold and cough symptoms. Furthermore, the government's efforts to improve healthcare infrastructure and promote self-medication are creating a favorable environment for the growth of the market. Overall, the Cold & Cough Remedies (Pharmacies) market in Brunei Darussalam is developing due to customer preferences for over-the-counter remedies, a growing aging population, increasing availability of diverse products, the demand for natural and herbal remedies, local special circumstances, and underlying macroeconomic factors.
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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