Cold & Cough Remedies (Pharmacies) - Malta

Revenue in the Cold & Cough Remedies market is projected to reach US$22.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.64%, resulting in a market volume of US$26.78m by 2029.
In global comparison, most revenue will be generated China (US$7.83bn in 2024).
In relation to total population figures, per person revenues of US$41.74 are generated in 2024.

Definition:
The Cold and Cough market encompasses a range of over-the-counter (OTC) products sold through pharmacies. These products include both natural and synthetic agents designed to alleviate symptoms related to cough, cold, sore throat, expectorants, and flu-like infections. The market includes various forms of medication such as pills, syrups, lozenges, sprays, ointments, and granulates for both external and internal usage. However, the market excludes prescription medicines, products contrary to state regulations, or those not explicitly designed for cold or cough relief, such as painkillers. Some of the leading products in this market include nose sprays, Mucosolvan syrup, Grippostad C, Sinupret forte, Gelomyrtol, Dolo-Dobendan, Aspirin Complex, Bepanthen nose and eye cream, ACC Akut, Neo-Angin, Vick Vaporup, and Isla Moos. This market exclusively covers product sales through pharmacies.

Additional Information:
The Cold and Cough market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Natural and synthetic agents
In the form of pills, syrups, creams, lozenges, sprays and granulate
Expectorants and remedies to relieve cough

Prescription medicines
Homeopathic remedies
Painkillers
Candy

The Cold & Cough Remedies (Pharmacies) market in Malta has been experiencing significant growth in recent years.

Customer preferences: Customers in Malta have shown a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This preference can be attributed to several factors. Firstly, customers appreciate the convenience of being able to purchase these remedies without a prescription, allowing them to quickly and easily alleviate their symptoms. Additionally, customers trust the expertise of pharmacists in recommending the most suitable remedies for their specific needs.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Malta is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients in the products they consume and are seeking alternatives to traditional pharmaceutical remedies. This trend can be observed worldwide, as consumers are increasingly turning to natural and holistic approaches to healthcare. In response to this trend, pharmacies in Malta have started to stock a wider range of natural and herbal cold and cough remedies to cater to the changing preferences of their customers. Another trend in the market is the growing popularity of combination remedies. Customers are looking for products that provide relief for multiple symptoms, such as cough, congestion, and sore throat, in a single dose. This trend can be attributed to the convenience it offers, as customers can address multiple symptoms with a single medication. Pharmacies in Malta have responded to this trend by stocking a variety of combination remedies to meet the demands of their customers.

Local special circumstances: One of the unique factors influencing the Cold & Cough Remedies (Pharmacies) market in Malta is the country's high population density. With a small land area and a relatively large population, pharmacies in Malta are often located in close proximity to residential areas, making them easily accessible to customers. This accessibility contributes to the convenience and popularity of purchasing cold and cough remedies from pharmacies.

Underlying macroeconomic factors: The growth of the Cold & Cough Remedies (Pharmacies) market in Malta can also be attributed to the country's strong economy and high disposable income levels. As the economy continues to grow, consumers have more purchasing power, allowing them to spend on healthcare products and remedies. Furthermore, the government's focus on healthcare and wellness has also contributed to the growth of the market, as it encourages individuals to take proactive measures to maintain their health and well-being. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Malta is experiencing growth due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal alternatives, and the popularity of combination remedies. The country's high population density and strong economy also contribute to the market's development.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.