Cold & Cough Remedies (Pharmacies) - Guatemala

Revenue in the Cold & Cough Remedies market is projected to reach US$72.02m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.76%, resulting in a market volume of US$109.60m by 2029.
In global comparison, most revenue will be generated China (US$7.83bn in 2024).
In relation to total population figures, per person revenues of US$3.92 are generated in 2024.

Definition:
The Cold and Cough market encompasses a range of over-the-counter (OTC) products sold through pharmacies. These products include both natural and synthetic agents designed to alleviate symptoms related to cough, cold, sore throat, expectorants, and flu-like infections. The market includes various forms of medication such as pills, syrups, lozenges, sprays, ointments, and granulates for both external and internal usage. However, the market excludes prescription medicines, products contrary to state regulations, or those not explicitly designed for cold or cough relief, such as painkillers. Some of the leading products in this market include nose sprays, Mucosolvan syrup, Grippostad C, Sinupret forte, Gelomyrtol, Dolo-Dobendan, Aspirin Complex, Bepanthen nose and eye cream, ACC Akut, Neo-Angin, Vick Vaporup, and Isla Moos. This market exclusively covers product sales through pharmacies.

Additional Information:
The Cold and Cough market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
In the form of pills, syrups, creams, lozenges, sprays and granulate
Expectorants and remedies to relieve cough

Prescription medicines
Homeopathic remedies
Painkillers
Candy

The Cold & Cough Remedies (Pharmacies) market in Guatemala is experiencing steady growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Cold & Cough Remedies (Pharmacies) market in Guatemala are driving the growth of the market. Consumers in Guatemala are becoming more health-conscious and are seeking remedies to alleviate cold and cough symptoms. They prefer over-the-counter medications available at pharmacies, as they are easily accessible and provide quick relief. Additionally, the demand for natural and herbal remedies is increasing, as consumers are becoming more aware of the potential side effects of chemical-based medications. Trends in the market also contribute to its development. The Cold & Cough Remedies (Pharmacies) market in Guatemala is witnessing a shift towards online sales. With the increasing penetration of smartphones and internet access, consumers are opting for the convenience of purchasing cold and cough remedies online. This trend is further fueled by the COVID-19 pandemic, which has led to an increase in online shopping across various sectors, including pharmaceuticals. Local special circumstances play a role in the development of the Cold & Cough Remedies (Pharmacies) market in Guatemala. The country has a high prevalence of respiratory diseases, including cold and cough. The tropical climate and pollution in urban areas contribute to the spread of respiratory infections. As a result, there is a constant demand for cold and cough remedies in the market. Moreover, Guatemala has a well-established network of pharmacies, making it easy for consumers to access these products. Underlying macroeconomic factors also contribute to the growth of the Cold & Cough Remedies (Pharmacies) market in Guatemala. The country's economy has been growing steadily, resulting in increased disposable income among the population. This allows consumers to spend more on healthcare and pharmaceutical products, including cold and cough remedies. Additionally, the government of Guatemala has been investing in the healthcare sector, which has improved access to healthcare services and increased awareness about the importance of treating respiratory illnesses. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Guatemala is developing due to customer preferences for over-the-counter medications, the trend towards online sales, the high prevalence of respiratory diseases, and the country's improving economy and healthcare sector. These factors are driving the steady growth of the market and creating opportunities for pharmaceutical companies operating in Guatemala.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.