Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Zambia

Zambia

Revenue in the Cold & Cough Remedies market is projected to reach US$3.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.01%, resulting in a market volume of US$5.08m 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$0.16 are generated in 2024.

Key regions: Canada, United Kingdom, United States, China, Europe

Market

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Region comparison

Currency

Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Zambia is experiencing steady growth due to several factors.

Customer preferences: Customers in Zambia have shown a growing preference for Cold & Cough Remedies purchased from pharmacies. This is primarily due to the convenience and accessibility of pharmacies, which are often located in urban areas and offer a wide range of healthcare products. Additionally, customers trust the expertise of pharmacists in recommending the right remedies for their cold and cough symptoms.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Zambia is the increasing demand for natural and herbal remedies. Customers are becoming more conscious about the ingredients in the products they consume and are seeking alternatives to traditional over-the-counter medicines. This trend is driven by a growing awareness of the potential side effects of certain chemical-based remedies. Another trend in the market is the rising demand for combination remedies that target multiple symptoms. Customers prefer products that provide relief from both cold and cough symptoms, as it saves them the hassle of purchasing multiple products. This trend is driven by the desire for convenience and cost-effectiveness.

Local special circumstances: The prevalence of cold and cough in Zambia is relatively high, especially during the colder months. This is due to the country's climate and environmental factors. As a result, customers in Zambia have a higher demand for Cold & Cough Remedies compared to other regions. This local special circumstance contributes to the growth of the market in Zambia.

Underlying macroeconomic factors: Zambia's growing population and increasing urbanization are key macroeconomic factors driving the growth of the Cold & Cough Remedies market. As more people move to urban areas, the demand for healthcare products, including Cold & Cough Remedies, is expected to rise. Additionally, the country's improving economic conditions and rising disposable incomes are enabling more people to afford these remedies. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Zambia is developing steadily due to customer preferences for pharmacy purchases, the trend towards natural and combination remedies, the local special circumstance of high cold and cough prevalence, and underlying macroeconomic factors such as population growth, urbanization, and increasing disposable incomes.

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.