Cold & Cough Remedies (Pharmacies) - Gabon

  • Gabon
  • Revenue in the Cold & Cough Remedies market is projected to reach US$2.66m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.71%, resulting in a market volume of US$3.04m by 2029.
  • In global comparison, most revenue will be generated in China (US$7,826.00m in 2024).
  • In relation to total population figures, per person revenues of US$1.07 are generated in 2024.

Key regions: Canada, United Kingdom, United States, China, Europe

 
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Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Gabon is experiencing steady growth due to several factors.

Customer preferences:
Customers in Gabon have a strong preference for over-the-counter cold and cough remedies that are easily accessible in pharmacies. They value convenience and affordability when it comes to purchasing these products. Additionally, customers in Gabon tend to rely on traditional remedies and natural ingredients for treating cold and cough symptoms, which has influenced the market for these products.

Trends in the market:
One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Gabon is the increasing demand for herbal and natural remedies. Customers are becoming more conscious about the ingredients used in these products and are opting for those that are perceived to be safer and have fewer side effects. This trend is driven by a growing awareness of the potential risks associated with the long-term use of certain pharmaceutical drugs. Another trend in the market is the rising popularity of combination products that offer relief from multiple symptoms. Customers in Gabon prefer products that provide comprehensive relief from cold and cough symptoms, such as congestion, sore throat, and coughing. Manufacturers are responding to this demand by developing combination products that target multiple symptoms, which has contributed to the growth of the market.

Local special circumstances:
Gabon has a tropical climate, which makes it prone to certain respiratory illnesses such as colds and coughs. The prevalence of these conditions in the country creates a constant demand for cold and cough remedies. Additionally, Gabon has a growing population, which further contributes to the demand for these products.

Underlying macroeconomic factors:
The economic growth in Gabon has led to an increase in disposable income among consumers. As a result, more people are able to afford cold and cough remedies, which has positively impacted the market. Furthermore, the government of Gabon has implemented policies that promote the development of the healthcare sector, including the availability of pharmaceutical products. This has created a favorable environment for the growth of the Cold & Cough Remedies (Pharmacies) market in the country. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Gabon is developing due to customer preferences for accessible and affordable over-the-counter remedies, the increasing demand for herbal and natural products, the popularity of combination products, the prevalence of respiratory illnesses in the country, the growing population, and the favorable macroeconomic factors such as economic growth and government policies.

Methodology

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
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