Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Gambia is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Gambia have shown a growing preference for over-the-counter cold and cough remedies purchased from pharmacies. This is driven by the convenience and accessibility of these products, as well as the increasing awareness of the importance of self-care and managing minor ailments at home. Customers value the ability to quickly and easily purchase cold and cough remedies without the need for a prescription, allowing them to address their symptoms promptly and effectively.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Gambia is the increasing demand for natural and herbal remedies. Customers are seeking products that are perceived as more gentle on the body and have fewer side effects. This trend is in line with the global shift towards natural and alternative medicine, driven by a growing interest in holistic health and wellness. As a result, pharmacies in Gambia are expanding their product offerings to include a wider range of natural and herbal cold and cough remedies to cater to this demand.
Local special circumstances: Gambia's tropical climate and high humidity levels make it a favorable environment for the spread of cold and cough viruses. This, combined with the country's limited healthcare infrastructure, means that many individuals rely on pharmacies as their primary source of healthcare. Pharmacies in Gambia play a crucial role in providing accessible and affordable healthcare solutions, including cold and cough remedies, to the population. The reliance on pharmacies as a healthcare resource further drives the demand for cold and cough remedies in the market.
Underlying macroeconomic factors: Gambia's growing population and improving economic conditions contribute to the development of the Cold & Cough Remedies (Pharmacies) market. As the population increases, so does the potential customer base for cold and cough remedies. Additionally, improving economic conditions mean that more individuals have disposable income to spend on healthcare products. This allows for increased spending on over-the-counter remedies, including cold and cough products, further driving market growth. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Gambia is developing due to customer preferences for accessible healthcare solutions, the trend towards natural and herbal remedies, the local special circumstances of Gambia's climate and healthcare infrastructure, and the underlying macroeconomic factors of population growth and improving economic conditions.
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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