Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in South America is experiencing steady growth due to several factors.
Customer preferences: Customers in South America have a high demand for cold and cough remedies, as these ailments are common in the region. The market is driven by the need for effective and affordable solutions to alleviate symptoms such as congestion, sore throat, and coughing. Customers prefer over-the-counter remedies that are easily accessible in pharmacies, as they provide convenience and immediate relief.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in South America is the increasing popularity of natural and herbal remedies. Customers are becoming more health-conscious and are seeking products that are perceived as safer and have fewer side effects. This trend is driven by the growing awareness of the potential risks associated with the long-term use of conventional medications. As a result, there is a rising demand for natural ingredients such as honey, ginger, and eucalyptus in cold and cough remedies. Another trend in the market is the expansion of product offerings by pharmaceutical companies. With the increasing competition, companies are introducing new and innovative products to cater to the diverse needs of customers. This includes the development of combination remedies that target multiple symptoms, as well as the introduction of specialized products for different age groups such as children and the elderly. Additionally, companies are investing in research and development to improve the efficacy of their products and provide more targeted relief.
Local special circumstances: South America has a diverse climate and geography, which contributes to the prevalence of cold and cough ailments. The region experiences both tropical and temperate climates, with varying levels of humidity and temperature throughout the year. These conditions create an environment conducive to the spread of respiratory infections, leading to a higher demand for cold and cough remedies. Additionally, South America has a large population, which further drives the market growth.
Underlying macroeconomic factors: The growing middle class in South America is a significant driver of the Cold & Cough Remedies (Pharmacies) market. As disposable incomes increase, customers have more purchasing power and are willing to spend on healthcare products. Additionally, the improving healthcare infrastructure and access to pharmacies in the region contribute to the market growth. The rising awareness of the importance of self-care and preventive healthcare also drives the demand for cold and cough remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in South America is growing steadily due to customer preferences for accessible and effective remedies, the increasing popularity of natural and herbal products, the expansion of product offerings by pharmaceutical companies, the prevalence of cold and cough ailments in the region, and the underlying macroeconomic factors such as the growing middle class and improving healthcare infrastructure.
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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