Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Northern Africa

Northern Africa

Revenue in the Cold & Cough Remedies market is projected to reach US$0.59bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.08%, resulting in a market volume of US$0.87bn 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$2.25 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Northern Africa is experiencing steady growth due to various factors.

Customer preferences: Customers in Northern Africa have a high demand for Cold & Cough Remedies (Pharmacies) products. This can be attributed to the prevalence of cold and cough-related illnesses in the region, which increases the need for effective remedies. Additionally, customers in Northern Africa value convenience and accessibility when it comes to purchasing healthcare products. Therefore, they prefer to buy these remedies from pharmacies, as they offer a wide range of options and professional advice.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Northern Africa is the increasing popularity of natural and herbal remedies. Customers are becoming more conscious of the ingredients used in pharmaceutical products and are opting for natural alternatives. This trend is driven by the belief that natural remedies have fewer side effects and are more sustainable for long-term use. Another trend in the market is the growing demand for over-the-counter (OTC) medications. Customers in Northern Africa prefer to self-medicate for common cold and cough symptoms, rather than visiting a doctor. This trend is fueled by the convenience and affordability of OTC medications, which can be easily purchased from pharmacies without a prescription.

Local special circumstances: Northern Africa is home to a diverse population with varying cultural and traditional beliefs. In some countries, traditional herbal remedies have been used for centuries to treat cold and cough symptoms. This has created a niche market for herbal remedies in the region. Local manufacturers have capitalized on this demand by producing and marketing traditional remedies alongside pharmaceutical products.

Underlying macroeconomic factors: The Cold & Cough Remedies (Pharmacies) market in Northern Africa is influenced by several macroeconomic factors. Economic growth and rising disposable incomes in the region have increased the affordability of healthcare products, including cold and cough remedies. Additionally, improvements in healthcare infrastructure and access to pharmacies have made these products more readily available to customers. Furthermore, the COVID-19 pandemic has had a significant impact on the market. The increased awareness of respiratory illnesses and the importance of maintaining good health has led to a surge in demand for cold and cough remedies. Customers are now more proactive in seeking preventive measures and remedies to alleviate symptoms. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Northern Africa is growing due to customer preferences for convenience and accessibility, as well as the increasing demand for natural remedies. The market is also influenced by local special circumstances, such as the popularity of traditional herbal remedies. Additionally, macroeconomic factors, such as economic growth and the impact of the COVID-19 pandemic, are driving the market's growth.

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.