Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Kuwait is experiencing steady growth due to several factors. Customer preferences for over-the-counter remedies, increasing awareness of health and wellness, and a growing aging population are driving the demand for cold and cough remedies in the country. Customer preferences in Kuwait are shifting towards self-medication and over-the-counter remedies for common ailments like cold and cough. This trend is driven by convenience and cost-effectiveness, as consumers prefer to treat minor illnesses at home without the need for a doctor's visit. Additionally, the availability of a wide range of cold and cough remedies in pharmacies allows customers to choose products that suit their specific needs. The market is also benefiting from the increasing awareness of health and wellness among Kuwaiti consumers. People are becoming more proactive in taking care of their health and are seeking products that can alleviate symptoms and promote recovery. Cold and cough remedies are seen as essential items to have at home, especially during the flu season, and consumers are willing to invest in these products to maintain their well-being. The growing aging population in Kuwait is another factor contributing to the development of the cold and cough remedies market. As people age, their immune systems weaken, making them more susceptible to illnesses like cold and cough. The elderly population in Kuwait is increasing, creating a larger customer base for cold and cough remedies. Pharmacies are catering to the specific needs of older adults by offering a range of products suitable for their age group. Local special circumstances in Kuwait also play a role in the market's development. The country's hot and dry climate can contribute to respiratory issues, making cold and cough remedies essential for many residents. Additionally, the cultural norms in Kuwait encourage taking proactive measures to maintain health and prevent the spread of illnesses. This cultural emphasis on health and wellness further drives the demand for cold and cough remedies. Underlying macroeconomic factors in Kuwait, such as a stable economy and high disposable income, also contribute to the growth of the cold and cough remedies market. The country's strong economy allows consumers to afford healthcare products and invest in their well-being. The high disposable income enables them to purchase premium cold and cough remedies that offer additional benefits or are perceived as more effective. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Kuwait is developing due to customer preferences for over-the-counter remedies, increasing awareness of health and wellness, a growing aging population, local special circumstances, and underlying macroeconomic factors. As these factors continue to drive demand, the market is expected to experience further growth in the coming years.
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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