Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Northern Europe is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Northern Europe, customers have a strong preference for natural and herbal remedies for cold and cough symptoms. This preference is driven by a growing awareness of the potential side effects of pharmaceutical drugs and a desire for more holistic and sustainable healthcare options. As a result, there is a high demand for natural cold and cough remedies in the region, including herbal teas, essential oils, and homeopathic treatments.
Trends in the market: One major trend in the Cold & Cough Remedies market in Northern Europe is the increasing popularity of online shopping. Customers in the region are increasingly turning to online platforms to purchase their healthcare products, including cold and cough remedies. This trend is driven by the convenience and accessibility of online shopping, as well as the wide range of products available. As a result, e-commerce is becoming a key distribution channel for cold and cough remedies in the region. Another trend in the market is the growing focus on preventive healthcare. Customers in Northern Europe are becoming more proactive in managing their health and are seeking ways to prevent cold and cough symptoms before they occur. This trend is driving the demand for immune-boosting supplements and vitamins, as well as products that promote overall wellness and immune system support.
Local special circumstances: Northern Europe is known for its cold and harsh winters, which often lead to an increase in cold and cough cases. This creates a constant demand for cold and cough remedies in the region, as customers seek relief from their symptoms. Additionally, the region has a well-developed healthcare system and a high level of healthcare awareness among the population, which further contributes to the demand for cold and cough remedies.
Underlying macroeconomic factors: The Cold & Cough Remedies market in Northern Europe is also influenced by underlying macroeconomic factors. The region has a high disposable income and a strong healthcare infrastructure, which allows customers to afford and access a wide range of cold and cough remedies. Additionally, the region has a well-established pharmaceutical industry, which contributes to the availability and variety of cold and cough remedies in the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Northern Europe is driven by customer preferences for natural remedies, trends such as online shopping and preventive healthcare, local special circumstances including harsh winters, and underlying macroeconomic factors such as high disposable income and a strong healthcare infrastructure. These factors are contributing to the steady growth of the market in the region.
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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