Cold & Cough Remedies (Pharmacies) - Namibia

Revenue in the Cold & Cough Remedies market is projected to reach US$2.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.01%, resulting in a market volume of US$3.01m 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$0.93 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 Namibia is experiencing steady growth due to several factors.

Customer preferences: Customers in Namibia have a strong preference for over-the-counter cold and cough remedies purchased from pharmacies. This is primarily because pharmacies offer a wide range of products that cater to different customer needs. Customers appreciate the convenience of being able to purchase these remedies without a prescription, allowing them to quickly and easily address their cold and cough symptoms. Additionally, customers trust the expertise of pharmacists in recommending the most suitable remedies for their specific symptoms.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Namibia is the increasing demand for natural and herbal remedies. Customers are becoming more health-conscious and are seeking alternatives to traditional pharmaceutical products. They are drawn to natural remedies that are perceived to have fewer side effects and are more aligned with their overall wellness goals. As a result, pharmacies in Namibia are expanding their product offerings to include a wider range of natural and herbal remedies to meet this growing demand. Another trend in the market is the rising popularity of combination remedies. Customers are looking for convenient solutions that address multiple symptoms at once. Combination remedies that target both cold and cough symptoms in a single product are gaining traction in the market. These products offer customers the convenience of treating multiple symptoms with a single purchase, saving them time and money.

Local special circumstances: Namibia has a dry and arid climate, which can contribute to an increased prevalence of cold and cough symptoms. The dry air can irritate the respiratory system, making individuals more susceptible to respiratory infections. This local special circumstance creates a higher demand for cold and cough remedies in Namibia compared to regions with different climates.

Underlying macroeconomic factors: Namibia has a growing middle class with increasing disposable income. This has resulted in higher healthcare expenditure, including spending on over-the-counter cold and cough remedies. As more individuals are able to afford these remedies, the market for cold and cough remedies in Namibia is expanding. Additionally, Namibia has a well-developed healthcare system with a strong emphasis on preventive care. This focus on maintaining good health and preventing illnesses contributes to the demand for cold and cough remedies. Customers in Namibia are proactive in addressing their cold and cough symptoms, seeking remedies at the early stages to prevent further complications. Overall, the Cold & Cough Remedies (Pharmacies) market in Namibia is driven by customer preferences for convenient and accessible remedies, the trend towards natural and herbal products, the demand for combination remedies, the local special circumstance of a dry climate, and the underlying macroeconomic factors of a growing middle class and a focus on preventive healthcare.

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.