Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Suriname

Suriname

Revenue in the Cold & Cough Remedies market is projected to reach US$0.94m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.03%, resulting in a market volume of US$1.26m 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$1.49 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 Suriname is experiencing significant growth and development.

Customer preferences: In Suriname, customers have a strong preference for over-the-counter cold and cough remedies that can be purchased from pharmacies. This preference is driven by the convenience and accessibility of pharmacies, as well as the trust and reliability associated with these establishments. Customers in Suriname also value the professional advice and guidance provided by pharmacists when selecting cold and cough remedies.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Suriname is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients in the products they use and are seeking alternatives to traditional pharmaceutical options. This trend is in line with the global shift towards natural and holistic healthcare solutions. Another trend in the market is the growing popularity of combination cold and cough remedies. These products offer customers the convenience of addressing multiple symptoms with a single medication. Combination remedies often include ingredients such as antihistamines, decongestants, and cough suppressants, providing relief for a range of cold and cough symptoms.

Local special circumstances: Suriname's tropical climate and high humidity levels contribute to an increased prevalence of cold and cough infections. The country's geographical location and proximity to the equator make it susceptible to various respiratory illnesses. As a result, the demand for cold and cough remedies remains consistently high throughout the year.

Underlying macroeconomic factors: Suriname's growing economy and increasing disposable income levels have contributed to the development of the Cold & Cough Remedies (Pharmacies) market. As individuals have more purchasing power, they are more likely to invest in healthcare products to alleviate their cold and cough symptoms. Additionally, the expanding middle class in Suriname has led to a rise in healthcare awareness, prompting individuals to seek out remedies for their ailments. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Suriname is experiencing growth and development driven by customer preferences for over-the-counter remedies, the increasing demand for natural and herbal options, and the popularity of combination remedies. The country's tropical climate and high humidity levels contribute to a consistent demand for these products throughout the year. Suriname's growing economy and rising disposable income levels are also factors contributing to the market's development.

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.