Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Lesotho is experiencing significant growth due to changing customer preferences and trends in the market.
Customer preferences: Customers in Lesotho are increasingly seeking over-the-counter cold and cough remedies from pharmacies. This shift in preference can be attributed to the convenience and accessibility of pharmacies, as well as the growing awareness of the effectiveness of these remedies. Customers value the ability to self-diagnose and treat common cold and cough symptoms without the need for a doctor's prescription. Additionally, the affordability of these remedies compared to prescription medications is another factor driving customer preferences towards pharmacies.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Lesotho is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients present in the remedies they consume and are opting for products that are perceived to be more natural and holistic. This trend is in line with the global shift towards natural and organic products in the healthcare sector. Pharmacies are responding to this trend by expanding their range of natural and herbal remedies to cater to the growing demand. Another trend in the market is the rising popularity of combination remedies. Customers are looking for products that provide relief from multiple symptoms, such as cough, congestion, and sore throat, in a single dose. Combination remedies offer convenience and cost savings for customers, as they eliminate the need to purchase multiple products for different symptoms. Pharmacies are capitalizing on this trend by stocking a wide variety of combination remedies to meet customer demand.
Local special circumstances: Lesotho, being a landlocked country, faces unique challenges in terms of access to healthcare. The limited availability of healthcare facilities and the high cost of healthcare services make pharmacies a crucial source of healthcare for many people. Pharmacies in Lesotho play a vital role in providing affordable and accessible cold and cough remedies to the population. The reliance on pharmacies for healthcare contributes to the growth of the Cold & Cough Remedies (Pharmacies) market in the country.
Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Lesotho can also be attributed to underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income and improved living standards. As a result, more people are able to afford healthcare products and are willing to spend on over-the-counter remedies for common ailments. The growing middle class in Lesotho is a key driver of the market growth. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Lesotho is developing due to changing customer preferences towards over-the-counter remedies, trends such as the demand for natural and herbal products, and the availability and affordability of healthcare services through pharmacies. The market is also influenced by the unique circumstances of Lesotho, such as limited access to healthcare facilities and the reliance on pharmacies for healthcare. The underlying macroeconomic factors, including economic growth and increased disposable income, further contribute to the growth of the market.
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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