Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Ukraine is experiencing steady growth due to increasing customer preferences for over-the-counter medications, rising awareness about self-medication, and a growing geriatric population. Customer preferences in the Cold & Cough Remedies (Pharmacies) market in Ukraine are shifting towards over-the-counter medications. This is primarily due to the convenience and accessibility of these products, as customers can purchase them without a prescription. Additionally, over-the-counter medications are often more affordable compared to prescription drugs, making them a preferred choice for many consumers. The market is also benefiting from the rising awareness about self-medication among consumers in Ukraine. With the easy availability of information through the internet and other sources, individuals are becoming more knowledgeable about common cold and cough symptoms and are opting to treat themselves at home. This trend is driving the demand for over-the-counter cold and cough remedies, as consumers seek quick relief from their symptoms without the need for a doctor's visit. Another factor contributing to the growth of the Cold & Cough Remedies (Pharmacies) market in Ukraine is the increasing geriatric population. As the population ages, the incidence of cold and cough-related illnesses tends to be higher among older individuals. This has created a significant market for cold and cough remedies targeted specifically towards the elderly population. Pharmacies are catering to this demand by offering a wide range of products that are specifically formulated for the needs of older individuals. In addition to these customer preferences, there are some local special circumstances that are influencing the development of the Cold & Cough Remedies (Pharmacies) market in Ukraine. The country has a well-established healthcare system, with a large number of pharmacies spread across the country. This ensures easy access to cold and cough remedies for consumers in both urban and rural areas. Furthermore, the government has implemented regulations to ensure the quality and safety of over-the-counter medications, which has further boosted consumer confidence in these products. Underlying macroeconomic factors are also playing a role in the growth of the Cold & Cough Remedies (Pharmacies) market in Ukraine. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income among the population. As a result, consumers have more purchasing power to spend on healthcare products, including cold and cough remedies. Additionally, the growing middle class in Ukraine is becoming more health-conscious and willing to invest in preventive healthcare, further driving the demand for cold and cough remedies. Overall, the Cold & Cough Remedies (Pharmacies) market in Ukraine is developing due to customer preferences for over-the-counter medications, rising awareness about self-medication, a growing geriatric population, local special circumstances such as a well-established healthcare system, and underlying macroeconomic factors like stable economic growth and increasing disposable income.
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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