Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - New Zealand

New Zealand

Revenue in the Cold & Cough Remedies market is projected to reach US$28.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.82%, resulting in a market volume of US$39.80m by 2029.
In global comparison, most revenue will be generated in China (US$7,826.00m in 2024).
In relation to total population figures, per person revenues of US$5.43 are generated in 2024.

Key regions: Canada, United Kingdom, United States, China, Europe

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Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in New Zealand is experiencing steady growth due to changing customer preferences and underlying macroeconomic factors. Customer preferences in the Cold & Cough Remedies (Pharmacies) market in New Zealand are shifting towards natural and herbal remedies. This trend is driven by increasing consumer awareness about the potential side effects of traditional over-the-counter medications. Customers are seeking products that are perceived to be safer and have fewer adverse effects on their health. As a result, there is a growing demand for natural and herbal remedies in the market. Another customer preference that is driving the growth of the Cold & Cough Remedies (Pharmacies) market in New Zealand is convenience. Customers are looking for products that are easily accessible and can be purchased without a prescription. Pharmacies are capitalizing on this trend by offering a wide range of cold and cough remedies that can be purchased over the counter. This convenience factor is attracting more customers to pharmacies for their cold and cough remedies needs. In addition to changing customer preferences, there are several local special circumstances that are contributing to the growth of the Cold & Cough Remedies (Pharmacies) market in New Zealand. The country has a high prevalence of respiratory illnesses, such as asthma and allergies, which increases the demand for cold and cough remedies. The cold and damp climate in certain regions of New Zealand also contributes to the occurrence of cold and cough symptoms, further driving the demand for remedies. Furthermore, the underlying macroeconomic factors in New Zealand are also playing a role in the growth of the Cold & Cough Remedies (Pharmacies) market. The country has a stable economy with a growing middle class population. This population segment has higher disposable income and is willing to spend on healthcare products, including cold and cough remedies. The government's focus on promoting and improving healthcare infrastructure also contributes to the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in New Zealand is experiencing growth due to changing customer preferences towards natural and herbal remedies, as well as the convenience factor offered by pharmacies. Local special circumstances, such as the high prevalence of respiratory illnesses and the cold climate, further drive the demand for remedies. The underlying macroeconomic factors, including a stable economy and government support for healthcare, also contribute to the growth of the market.

Methodology

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.