Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Israel has been experiencing significant growth in recent years.
Customer preferences: Customers in Israel have shown a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This is largely due to the convenience and accessibility of these products in pharmacies, as well as the trust that customers have in the expertise of pharmacists in recommending appropriate remedies. Additionally, customers in Israel tend to prioritize natural and herbal remedies, leading to an increased demand for products that are perceived to be more holistic and have fewer side effects.
Trends in the market: One of the key trends in the Cold & Cough Remedies market in Israel is the increasing demand for natural and herbal remedies. Customers are becoming more health-conscious and are seeking out products that are perceived to be more natural and have fewer side effects. This has led to the introduction of a wide range of natural and herbal remedies in the market, including products made from ingredients such as honey, ginger, and Echinacea. Another trend in the market is the growing popularity of combination products that offer multiple benefits. Customers in Israel are increasingly looking for remedies that can address multiple symptoms, such as a combination of cough suppressant and expectorant or a combination of decongestant and pain reliever. This trend is driven by the desire for convenience and the need to manage multiple symptoms simultaneously.
Local special circumstances: One of the unique aspects of the Cold & Cough Remedies market in Israel is the strong influence of traditional medicine. Traditional remedies, such as herbal teas and homemade concoctions, are still widely used by many Israelis. This has created a market for both traditional and modern remedies, with customers often seeking a balance between the two. Pharmacies in Israel often stock a wide range of traditional remedies alongside modern pharmaceutical products to cater to the diverse preferences of customers.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies market in Israel can be attributed to several underlying macroeconomic factors. Firstly, the increasing prevalence of cold and cough-related illnesses in the country has created a higher demand for remedies. This can be attributed to factors such as changing weather patterns and increased exposure to allergens. Additionally, the rising disposable income of the population has allowed more people to afford over-the-counter remedies, leading to increased sales in the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Israel is experiencing growth due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, the popularity of combination remedies, the influence of traditional medicine, and underlying macroeconomic factors such as the prevalence of illnesses and rising disposable income.
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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