Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Czechia is experiencing steady growth due to several factors.
Customer preferences: Customers in Czechia have shown a growing preference for over-the-counter cold and cough remedies purchased from pharmacies. This is primarily driven by the convenience and accessibility of these products, as well as the trust placed in the expertise of pharmacists. Customers value the ability to quickly and easily obtain remedies for common cold and cough symptoms without the need for a prescription.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Czechia 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 in line with the global shift towards natural and holistic healthcare solutions. As a result, pharmacies in Czechia are expanding their range of natural and herbal remedies to cater to this growing demand. Another trend in the market is the rising popularity of combination cold and cough remedies. Customers prefer products that offer relief for multiple symptoms, such as congestion, sore throat, and cough, in a single formulation. This trend is driven by the desire for convenience and cost-effectiveness, as customers can address multiple symptoms with a single product. Pharmacies are responding to this trend by stocking a wider range of combination remedies to meet customer demand.
Local special circumstances: One of the unique aspects of the Czech market is the high level of trust placed in pharmacists. Customers in Czechia rely on the expertise and advice of pharmacists when it comes to selecting the right cold and cough remedies. This trust is built on the long-standing tradition of community pharmacies in the country, where pharmacists play a central role in healthcare provision. As a result, pharmacies in Czechia have a competitive advantage over other retail channels in the sale of cold and cough remedies.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Czechia is also influenced by underlying macroeconomic factors. The country has a stable economy with a high level of disposable income, allowing customers to afford over-the-counter remedies. Additionally, the aging population in Czechia is contributing to the growth of the market, as older individuals are more prone to cold and cough symptoms and often seek remedies to alleviate their discomfort. These factors, combined with the convenience and accessibility of pharmacies, are driving the growth of the market in Czechia.
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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