Market Insights Health Pharmacies OTC Products

Cold & Cough Remedies (Pharmacies) - Zimbabwe

Zimbabwe

Revenue in the Cold & Cough Remedies market is projected to reach US$29.31m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.07%, resulting in a market volume of US$27.78m 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$1.72 are generated in 2024.

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

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Currency

Analyst Opinion

The Cold & Cough Remedies (Pharmacies) market in Zimbabwe has been experiencing significant growth in recent years.

Customer preferences: Zimbabwean consumers have shown a growing preference for over-the-counter cold and cough remedies available at pharmacies. This can be attributed to several factors. Firstly, the convenience of purchasing these remedies from pharmacies, which are easily accessible in urban areas. Secondly, the increasing awareness among consumers about the effectiveness and safety of these remedies. Lastly, the affordability of these products compared to prescription medications.

Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Zimbabwe is the rising demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of synthetic medications and are seeking alternative options. As a result, pharmacies in Zimbabwe are expanding their product offerings to include a wider range of natural and herbal remedies for cold and cough. Another trend in the market is the growing popularity of combination products. These products offer multiple benefits, such as relieving both cold and cough symptoms, and are preferred by consumers who want a comprehensive solution for their ailments. Pharmacies in Zimbabwe are stocking a variety of combination products to cater to this demand.

Local special circumstances: Zimbabwe has a high prevalence of respiratory infections, particularly during the winter season. The country's climate, coupled with poor living conditions in some areas, contributes to the spread of cold and cough viruses. This local special circumstance has created a steady demand for cold and cough remedies in the country.

Underlying macroeconomic factors: The improving economic conditions in Zimbabwe have also played a role in the growth of the Cold & Cough Remedies (Pharmacies) market. As the country's economy stabilizes, consumers have more disposable income to spend on healthcare products. This has led to an increase in the demand for cold and cough remedies, as consumers prioritize their health and well-being. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Zimbabwe is witnessing growth due to customer preferences for over-the-counter remedies, the rising demand for natural and herbal products, and the local special circumstance of high respiratory infections. The improving macroeconomic conditions in the country have also contributed 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.