Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Iraq has been experiencing significant growth in recent years.
Customer preferences: Customers in Iraq have shown a strong preference for over-the-counter cold and cough remedies, which are easily accessible at pharmacies. This preference can be attributed to several factors, including the convenience of purchasing these products without a prescription and the desire for immediate relief from cold and cough symptoms. Additionally, customers in Iraq often rely on traditional remedies and herbal medicines to treat cold and cough symptoms, which has further contributed to the demand for these products.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Iraq is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the potential side effects of conventional medications and are seeking alternative options. This trend is in line with the global shift towards natural and organic products. As a result, pharmacies in Iraq have started to stock a wider range of natural and herbal cold and cough remedies to cater to this growing demand. Another trend in the market is the rising prevalence of cold and cough symptoms, particularly during the winter months. Iraq experiences cold and dry winters, which often lead to an increase in respiratory infections and related symptoms. This seasonal demand for cold and cough remedies has driven the growth of the market, as customers seek relief from their symptoms.
Local special circumstances: Iraq has a large population, which presents a significant market opportunity for cold and cough remedies. Additionally, the country has a relatively underdeveloped healthcare infrastructure, with limited access to primary healthcare facilities. As a result, many people rely on pharmacies as their primary source of healthcare, including for the treatment of cold and cough symptoms. This reliance on pharmacies has further fueled the demand for cold and cough remedies in Iraq.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in Iraq can also be attributed to several underlying macroeconomic factors. Firstly, the improving economic conditions in the country have led to an increase in disposable income, allowing more people to afford healthcare products. This has contributed to the overall growth of the pharmaceutical market, including the Cold & Cough Remedies segment. Furthermore, the increasing urbanization in Iraq has resulted in a shift towards a more sedentary lifestyle, leading to a higher incidence of respiratory infections and related symptoms. This, in turn, has driven the demand for cold and cough remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Iraq is experiencing significant growth, driven by customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, the seasonal prevalence of cold and cough symptoms, the reliance on pharmacies as a primary source of healthcare, and the underlying macroeconomic factors such as improving economic conditions and urbanization.
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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