Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Hungary has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Hungary have shifted towards self-medication and over-the-counter remedies for cold and cough symptoms. This is driven by a desire for convenience and cost-effectiveness, as well as increased awareness and knowledge about common cold and cough remedies. Consumers are increasingly seeking products that provide quick relief from symptoms such as congestion, coughing, and sore throat. They are also looking for products that are easy to use and have minimal side effects. Trends in the market reflect these customer preferences. There has been a rise in the availability and variety of cold and cough remedies in Hungarian pharmacies. Pharmacies are stocking a wide range of products, including nasal sprays, cough syrups, lozenges, and herbal remedies. This trend is driven by increased demand for these products and the desire to cater to the diverse needs and preferences of consumers. Additionally, pharmacies are investing in marketing and promotional activities to raise awareness about the benefits of their cold and cough remedies. Local special circumstances in Hungary have also contributed to the growth of the Cold & Cough Remedies market. Hungary experiences cold winters, which often lead to an increase in the incidence of cold and cough symptoms. This creates a high demand for remedies to alleviate these symptoms. Additionally, the country has a well-developed healthcare system, with a strong network of pharmacies that are easily accessible to the population. This allows consumers to conveniently purchase cold and cough remedies from their local pharmacy. Underlying macroeconomic factors have also played a role in the development of the Cold & Cough Remedies market in Hungary. The country has experienced stable economic growth in recent years, which has led to increased disposable income and higher healthcare spending. This has allowed consumers to afford and prioritize self-care products, including cold and cough remedies. Furthermore, the aging population in Hungary has contributed to the growth of the market, as older individuals are more susceptible to cold and cough symptoms and are more likely to seek remedies to alleviate these symptoms. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Hungary is developing due to customer preferences for self-medication, trends in the market towards a wider variety of products, local special circumstances such as cold winters and a well-developed healthcare system, and underlying macroeconomic factors such as stable economic growth and an aging population.
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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