Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Bulgaria has been experiencing steady growth in recent years.
Customer preferences: Customers in Bulgaria have shown a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This preference can be attributed to the convenience and accessibility of these products, as well as the trust that customers place in the expertise of pharmacists. Additionally, customers in Bulgaria tend to prioritize natural and herbal remedies, leading to a demand for products that are perceived as more holistic and gentle on the body.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Bulgaria is the increasing demand for products that offer multi-symptom relief. Customers are seeking remedies that can address multiple cold and cough symptoms, such as congestion, sore throat, and coughing, in a single product. This trend can be attributed to the desire for convenience and cost-effectiveness, as customers prefer to purchase a single product that can provide relief for multiple symptoms. Another trend in the market is the growing popularity of natural and herbal remedies. Customers in Bulgaria are increasingly seeking out products that are made from natural ingredients and do not contain artificial additives or chemicals. This trend aligns with the broader global shift towards natural and organic products, as customers become more conscious of the potential side effects and long-term health implications of synthetic ingredients.
Local special circumstances: Bulgaria has a relatively high incidence of cold and cough due to its continental climate, which is characterized by cold winters and fluctuating temperatures. This creates a favorable market environment for cold and cough remedies, as customers are more likely to experience symptoms and seek relief. Additionally, the high prevalence of smoking in Bulgaria contributes to the demand for cough remedies, as smoking is a major risk factor for respiratory issues.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Bulgaria can also be attributed to favorable macroeconomic factors. The country has experienced stable economic growth in recent years, leading to increased disposable income and higher healthcare spending. This has allowed customers to allocate more resources towards self-care and preventative health measures, including the purchase of cold and cough remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Bulgaria is developing due to customer preferences for over-the-counter remedies, the increasing demand for multi-symptom relief and natural products, local special circumstances such as climate and smoking prevalence, and favorable 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
