Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Eastern Europe is experiencing significant growth and development.
Customer preferences: Customers in Eastern Europe have shown a strong preference for over-the-counter cold and cough remedies that are easily accessible in pharmacies. They value convenience and affordability, and often seek out products that provide quick relief from symptoms such as coughing, congestion, and sore throat. Additionally, customers in this region tend to prefer natural or herbal remedies over pharmaceutical options, as they perceive them to be safer and more gentle on the body.
Trends in the market: One major trend in the Cold & Cough Remedies (Pharmacies) market in Eastern Europe is the increasing demand for products that combine multiple active ingredients to target a range of symptoms. This trend is driven by the desire for convenience and effectiveness, as customers prefer to purchase a single product that can address all of their cold and cough symptoms rather than buying multiple individual remedies. Pharmaceutical companies are responding to this trend by developing and marketing combination products that offer comprehensive relief. Another trend in the market is the growing popularity of natural and herbal remedies. Customers in Eastern Europe have a long history of using traditional herbal remedies to treat common ailments, and this preference extends to cold and cough remedies as well. They believe that natural ingredients are less likely to cause side effects and are more in harmony with their bodies. As a result, there is a rising demand for cold and cough remedies that contain herbal extracts and other natural ingredients.
Local special circumstances: One unique aspect of the Cold & Cough Remedies (Pharmacies) market in Eastern Europe is the influence of traditional medicine and cultural beliefs. Many customers in this region have a strong belief in the power of traditional remedies and may rely on them as a first line of defense against cold and cough symptoms. This can impact the sales of pharmaceutical cold and cough remedies, as customers may be more inclined to try traditional remedies before turning to over-the-counter options. Additionally, the healthcare infrastructure in Eastern Europe can vary across countries, with some regions having limited access to medical professionals. This can lead to an increased reliance on self-medication and over-the-counter remedies, as customers may not have easy access to healthcare advice or prescription medications. Pharmacies play a crucial role in providing healthcare services and advice to customers in these regions.
Underlying macroeconomic factors: The development of the Cold & Cough Remedies (Pharmacies) market in Eastern Europe is also influenced by macroeconomic factors. As the economy in Eastern Europe continues to grow and improve, disposable incomes are increasing, allowing customers to spend more on healthcare products. This has led to a rise in demand for over-the-counter remedies, including cold and cough remedies. Additionally, the aging population in Eastern Europe is driving the demand for healthcare products, as older individuals are more susceptible to cold and cough symptoms and are more likely to seek out remedies to alleviate their symptoms. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Eastern Europe is developing due to customer preferences for convenient and affordable over-the-counter remedies, the increasing demand for combination products and natural remedies, the influence of traditional medicine and cultural beliefs, and the underlying macroeconomic factors such as economic growth and an aging population.
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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