Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Southern Africa is experiencing steady growth and development.
Customer preferences: Customers in Southern Africa have a strong preference for over-the-counter cold and cough remedies that are easily accessible and affordable. They value convenience and often rely on pharmacies for their healthcare needs.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Southern Africa is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are seeking alternatives to traditional pharmaceutical remedies. This trend is driven by a growing interest in holistic health and wellness, as well as a desire for products that are perceived to have fewer side effects. Another trend in the market is the rising popularity of combination remedies that target multiple symptoms. Customers are looking for products that provide relief from both cold and cough symptoms, as well as other related symptoms such as congestion and sore throat. Combination remedies offer convenience and cost savings, as customers can purchase a single product that addresses multiple symptoms.
Local special circumstances: Southern Africa is home to a diverse population with different cultural beliefs and practices. Traditional medicine plays a significant role in healthcare in many communities, and this influences customer preferences in the Cold & Cough Remedies (Pharmacies) market. Some customers may prefer traditional remedies over pharmaceutical products, seeking out herbal remedies and traditional healing practices.
Underlying macroeconomic factors: The Cold & Cough Remedies (Pharmacies) market in Southern Africa is influenced by various macroeconomic factors. Economic growth and rising disposable incomes contribute to increased healthcare spending, including the purchase of cold and cough remedies. Additionally, the prevalence of cold and cough illnesses in the region, particularly during the colder months, drives demand for these products. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Southern Africa is growing due to customer preferences for accessible and affordable over-the-counter remedies. The market is witnessing trends such as the demand for natural and herbal remedies, as well as combination remedies that target multiple symptoms. Local special circumstances, such as the influence of traditional medicine, also play a role in shaping customer preferences. Overall, the market is driven by underlying macroeconomic factors such as economic growth and the prevalence of cold and cough illnesses 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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