Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Ireland

Ireland

Revenue in the Cold & Cough Remedies market is projected to reach US$18.51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.51%, resulting in a market volume of US$22.00m by 2029.
In global comparison, most revenue will be generated in China (US$7,826.00m in 2024).
In relation to total population figures, per person revenues of US$3.64 are generated in 2024.

Key regions: Canada, United Kingdom, United States, China, Europe

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Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Ireland is experiencing steady growth due to various factors.

Customer preferences: Customers in Ireland have a strong preference for over-the-counter cold and cough remedies available in pharmacies. This preference is driven by the convenience of purchasing these products without a prescription and the trust placed in the expertise of pharmacists. Additionally, customers often seek remedies that provide relief from symptoms such as cough, congestion, and sore throat, which are common during the colder months.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Ireland is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they use and are opting for remedies that are perceived as more natural and less likely to cause side effects. This trend is in line with the global shift towards natural and organic products in the healthcare industry. Another trend in the market is the growing popularity of combination products that offer relief from multiple symptoms. Customers prefer products that provide comprehensive relief rather than having to purchase multiple individual remedies. This trend is driven by the convenience and cost-effectiveness of combination products.

Local special circumstances: Ireland experiences a significant increase in cold and cough cases during the winter months. The cold and damp climate, coupled with the prevalence of viral infections, contributes to a higher incidence of respiratory illnesses. This seasonal demand for cold and cough remedies creates a favorable market environment for pharmacies in Ireland.

Underlying macroeconomic factors: The growing population and increasing healthcare expenditure in Ireland are contributing to the growth of the Cold & Cough Remedies (Pharmacies) market. As the population expands, the demand for healthcare products, including cold and cough remedies, is expected to rise. Additionally, the government's focus on improving healthcare infrastructure and access to affordable healthcare is likely to drive the market further. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Ireland is growing steadily due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, and the seasonal demand for cold and cough remedies. The market is also influenced by the growing population and healthcare expenditure in Ireland.

Methodology

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.