Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in GCC is experiencing steady growth due to several factors.
Customer preferences: Customers in the GCC region have a high demand for Cold & Cough Remedies (Pharmacies) products. This can be attributed to the prevalence of cold and cough-related illnesses in the region, particularly during the winter months. Additionally, customers in the GCC region prefer to purchase these products from pharmacies rather than other retail outlets, as pharmacies are seen as more reliable and trustworthy sources of medication.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in the GCC region 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. As a result, pharmacies in the GCC region are expanding their range of natural and herbal cold and cough remedies to cater to this growing demand. Another trend in the market is the rising popularity of combination products. Customers in the GCC region are increasingly looking for cold and cough remedies that address multiple symptoms at once, such as relieving congestion, soothing sore throat, and reducing coughing. Pharmacies are responding to this trend by offering a wide range of combination products that provide comprehensive relief for cold and cough symptoms.
Local special circumstances: The GCC region has a unique climate, with hot and dry summers and relatively mild winters. However, the winter months can still bring cold and cough-related illnesses, especially in areas with lower temperatures. This creates a seasonal demand for Cold & Cough Remedies (Pharmacies) products, with peak sales occurring during the winter months. Pharmacies in the GCC region need to anticipate and prepare for this seasonal fluctuation in demand to ensure they have sufficient stock of cold and cough remedies during the peak winter season.
Underlying macroeconomic factors: The Cold & Cough Remedies (Pharmacies) market in the GCC region is also influenced by underlying macroeconomic factors. The GCC countries have experienced rapid economic growth in recent years, leading to an increase in disposable income and higher healthcare spending. As a result, customers in the GCC region are more willing to spend on healthcare products, including Cold & Cough Remedies (Pharmacies) products. This has contributed to the growth of the market in the region. In conclusion, the Cold & Cough Remedies (Pharmacies) market in the GCC region is developing steadily due to customer preferences for reliable pharmacy sources, the increasing demand for natural and herbal remedies, the popularity of combination products, the seasonal nature of cold and cough-related illnesses, 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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