Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in CIS is experiencing significant growth due to several factors.
Customer preferences: Customers in the CIS region have a high demand for cold and cough remedies, as these are common ailments that affect a large portion of the population. The harsh winters in many CIS countries contribute to the prevalence of cold and cough symptoms, leading to a higher demand for remedies to alleviate these symptoms. Additionally, customers in the region prefer to purchase these remedies from pharmacies, as they trust the expertise of pharmacists and the quality of the products available in pharmacies.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in CIS is the increasing popularity of natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing awareness of the potential side effects of certain medications and a desire for more natural and holistic approaches to healthcare. As a result, pharmacies in the CIS region are expanding their offerings to include a wider range of natural and herbal remedies for cold and cough symptoms. Another trend in the market is the rise of online sales of cold and cough remedies. With the increasing penetration of internet and smartphones in the CIS region, customers are increasingly turning to online platforms to purchase healthcare products. This trend is particularly prominent in urban areas, where customers have easy access to internet connectivity and are more comfortable with online shopping. Pharmacies in the region are adapting to this trend by establishing online platforms and offering home delivery services to cater to the changing preferences of their customers.
Local special circumstances: The Cold & Cough Remedies (Pharmacies) market in CIS is also influenced by local special circumstances. For example, the region has a diverse population with different cultural backgrounds and traditional healing practices. This diversity has led to the availability of a wide range of cold and cough remedies in the market, including traditional remedies that are specific to certain ethnic groups. Pharmacies in the CIS region often stock these traditional remedies to cater to the specific needs and preferences of their customers.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in CIS is also supported by underlying macroeconomic factors. The region has seen steady economic growth in recent years, leading to an increase in disposable income and higher healthcare spending. As a result, customers in the CIS region are more willing to invest in healthcare products, including cold and cough remedies. Additionally, the growing middle class in the region has led to an increase in the demand for quality healthcare products, further driving the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in CIS is experiencing growth due to customer preferences for remedies to alleviate common cold and cough symptoms, the increasing popularity of natural and herbal remedies, the rise of online sales, local special circumstances such as diverse cultural backgrounds and traditional healing practices, and underlying macroeconomic factors such as economic growth and higher healthcare spending.
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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