Cold & Cough Remedies (Pharmacies) - Guinea

Revenue in the Cold & Cough Remedies market is projected to reach US$5.56m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.39%, resulting in a market volume of US$8.70m 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$0.38 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 Guinea is experiencing steady growth due to changing customer preferences and local special circumstances.

Customer preferences: Customers in Guinea are increasingly seeking over-the-counter remedies for cold and cough symptoms. This shift in preference can be attributed to several factors. Firstly, there is a growing awareness among consumers about the effectiveness of self-medication for common ailments like cold and cough. Secondly, the convenience of purchasing remedies from local pharmacies without the need for a doctor's prescription is appealing to customers. Lastly, the affordability of over-the-counter remedies compared to prescription medications is also driving customer preferences.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Guinea is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the potential side effects of pharmaceutical drugs and are seeking alternative options. This trend is in line with the global shift towards natural and holistic healthcare solutions. As a result, pharmacies in Guinea are expanding their product offerings to include a wide range of natural remedies for cold and cough symptoms. Another trend in the market is the rising demand for combination cold and cough remedies. Customers prefer products that address multiple symptoms, such as congestion, sore throat, and cough, in a single medication. This trend can be attributed to the convenience and cost-effectiveness of combination remedies, as customers do not have to purchase multiple products to alleviate their symptoms.

Local special circumstances: One of the factors contributing to the growth of the Cold & Cough Remedies (Pharmacies) market in Guinea is the prevalence of cold and cough infections. Guinea's tropical climate, with its high humidity and fluctuating temperatures, creates favorable conditions for the spread of respiratory infections. As a result, there is a constant demand for remedies to alleviate cold and cough symptoms.

Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Guinea is also influenced by underlying macroeconomic factors. Guinea has experienced steady economic growth in recent years, which has led to an increase in disposable income among the population. This has resulted in higher healthcare spending, including the purchase of over-the-counter remedies. Additionally, the expansion of the healthcare sector in Guinea, with increased access to pharmacies and healthcare facilities, has also contributed to the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Guinea is growing due to changing customer preferences towards over-the-counter remedies, the demand for natural and combination remedies, the prevalence of cold and cough infections, and underlying macroeconomic factors such as economic growth and improved healthcare access.

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.